This key player in the financial services sector was having trouble with its Information Technology costs. In order to remain competitive, they knew they needed to lower their cost of operations. They had assembled a team from across their technology operations organization to develop a strategy. But so far, the team had only been able to identify tactical initiatives that were 10-20% of the cost reduction needed to achieve their goal.
- Octave's Contribution
The problem was tightly defined. The ideas to help resolve it needed to be developed quickly. Octave used the Resonate Approach to design a 4 day
Resonate Workshop, focused specifically on solution generation. Guided by Octave's process, the client team generated 250 new ideas which were distilled into 16 potential initiatives during those 4 days. Those initiatives were then presented to an executive panel for evaluation on the 4th day.
The initiatives developed during the workshops were forecast by the client as able to drive their technology operations costs down by 75% in 18 months.