- Case study
Protecting business continuity with ServiceNow
How an operational resilience framework helped a financial services company predict, adapt, and thrive
Who we worked with
A leading financial organization that serves individual customers and global corporations
What the company needed
- A better way to predict and manage business disruption
- To cut down the time and money spent on maintaining business continuity
- To improve compliance with industry regulations
How we helped
Delivered an operational resilience solution that blends Genpact's business, technology, and industry expertise with the ServiceNow Integrated Risk Management (IRM) platform.
What the company got
- The ability to monitor resilience indicators in real time
- 50% reduction in the manual effort needed to maintain business continuity
- 40% fewer incidents thanks to early warning indicators (EWIs)
- A more effective regulatory reporting process
Challenge
Limited tracking and lacking automation
A leading financial services organization was eager to tackle business disruption. It needed to keep all its services running smoothly in the face of any challenge. However, the company was struggling to identify its important business services. This made asset mapping – the process of identifying and protecting critical business assets – very time-consuming.
The absence of clear visibility of the business services and its interdependencies, including the underlying assets, was also a major roadblock to building resilience services for our client's customers.
To make matters worse, senior management approval processes in the face of disruption were long and complex. Real-time problems call for real-time solutions, but the company's highly manual processes left much to be desired.
After a failed attempt to improve operational resilience with another vendor, the organization realized it needed a blend of business, technology, and industry expertise. That's when they turned to Genpact.
Solution
Standardized, simplified, and scalable
First, we did a thorough assessment of the company's needs and requirements. Using these insights, we knew that Genpact's operational resilience solution, built on the ServiceNow IRM platform, was the perfect fit.
Genpact successfully assisted the organization in the journey to transition from a heavily customized system to the ServiceNow IRM platform, with an aim to reduce technical debt through a standardized solution.
Once it was up and running, our solution fixed fragmented systems, automated manual processes, and addressed compliance issues. We were able to build real-time operational dashboards with EWIs to identify risks before they become problems. Plus, it's flexible enough to adapt, scale, and grow as new business challenges emerge.
But technology is only as good as the people who implement it. The company appreciated our deep understanding of operational resilience and industry regulatory requirements, which played a key role in its success.
Impact
Fewer incidents and greater governance
Today, the company finds it much easier to protect its important business services and track business resiliency indicators. This has cut down the time spent on asset mapping by 50%.
The company can also monitor and act on EWIs, which has reduced the number of business continuity-related incidents by 40%. And smoother processes and approvals have improved its ability to meet changing regulatory requirements.
Lastly, the solution has given the company an opportunity to experiment with scenario testing. This means leaders have an opportunity to test different scenarios and plan effectively for whatever the future may hold.
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