Cost Reduction to Drive Profitability Improvement

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The European CEO of a Global Financial Services player wanted to transform the business to work with greater European-wide coordination to drive better customer outcomes and increase profitability.

The business was predominantly run as country silos, with front office resource allocation misaligned with the market opportunity. Back office functions were fragmented and sub-scale, with processes inconsistent across geographies and reliant on manual activities.

SSA & Company evaluated front-office productivity and sized the market opportunity in each European Country. Based on this bottom-up analyses, we ranked the 15+ European markets and 25+ products, and identified markets and products for investment and areas for headcount rationalization.

The performance of back-office functions was evaluated, and the operating model redesigned to rationalize, standardize, automate, and centralize back-office activities in low-cost countries, to drive efficiency, and address current customer pain points.

Through high-impact analytical rigor and comprehensive stakeholder management across all country and product teams, initiatives resulting in 10+% headcount reduction across operations and corporate functions, and investment in select front-office capabilities were approved. SSA & Company helped the client develop the implementation approach, including Workers Council / Trade Union consultation, to ensure success.

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