A Kepa Case Study
AppO in Finance - Superannuation
AppO developed a large not-for-profit Superannuation Fund Manager’s transformation pipeline, enabling the discovery of “hidden” initiatives along the way.
Contact Kepa
This case study is anonymised to protect the client
Client Challenge
AppO was utilised by a Superannuation client with:
- 350 employees
- $36 Billion AUD assets under management
- $25 Million per annum transformation budget
- Burgeoning but still immature approach to transformation project, program and portfolio management
- 25 known transformation initiatives in flight
No initiative prioritisation
With 25 initiatives in flight, the company had no prioritisation process in place. This caused confusion with regard to resource allocations and priorities, planned outcomes and their benefits.
Poor processes
The business had limited business case support for transformation initiatives and poor governance and gating processes. Thus transformation and portfolio management processes were immature, and there was a widely held suspicion of "pet" and hidden projects.
The Process
The following actions were undertaken by the client in order to optimise the client’s project portfolio.
- Survey management to identify all published transformation initiatives proposed for the organisation (what, who, why) including business as usual initiatives
- Identify accountability for the “what”
- Perform key stakeholder interviews with regard to resource allocations and the “what” and “why”
- Use collected data and interview outcomes to populate AppO investment options
- Implement existing strategic drivers as criteria into AppO
- Implement interview outcomes into AppO as performance of the options against the strategic drivers
- Survey C-Suite individuals to establish relative importance of strategic drivers, report on C-Suite differences, generate and agree consensus view
- Implement rigorous governance and transformation capital allocation processes
- Analyse options against strategic driver importance and option performance
- Identify initiatives of least value as candidates to defer or stop
- Identify initiatives of highest value as candidates to accelerate, continue, or begin execution
Initiatives Prioritised and Strategically Aligned
12 previously unknown initiatives were included within the portfolio making 37 known initiatives in total.
13 initiatives were in flight and 24 initiatives prioritised.
All projects are now demonstrably strategically aligned with universally understood planned project outcomes.
Improved processes and savings
Rigorous governance and gating, capital allocation processes ensure the problem never recurs. Transformation budget was temporarily increased from $24 Million AUD to $47 Million AUD per annum to reflect known business imperatives.
The total spend was lower than the previous actual spend because of the identification of pet and undisclosed (hidden) initiatives.
Savings estimate of around $3 Million AUD per annum.
Outcomes
AppO achieved significant results within a small timeframe, aligning transformation efforts to the strategic plan, and saving the client a relatively large amount of time and money.
Find out how you can utilise Kepa Software below.
Get in Touch with Kepa
Ready to Transform Your Business?
Fill out the form and Kepa will get in touch to see how we can help your business
