Digital enablement through mobile and web releases, search engine management and search engine optimisation, social media strategy and USSD roll-out |
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- Accenture have completed their work on the digital architecture with the internal team and are now scoping implementation of the board-approved digital strategy
- Enhance the stability of the digital IT environment
- Single digital entry point
- Single digital identity
- Digital UX redesign
- Enterprise core capabilities and future digital operating model
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- To continue delivering the digital strategy to the group as planned, where mobile and web are seen as an enterprise asset to orchestrate various underlying capabilities, applications and architecture into a unified interface for Alexander Forbes’s clients, aligned to our group client value proposition
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- Digitally enabled business with full digital delivery capability
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- Internal risks: resource allocation, budget planning and skills set shortage
- External risks: natural and political disasters, major macroeconomic shifts
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Group-wide modernisation programme:
- Establish a group enterprise programme management office (EPMO)
- Define the future business and enterprise architecture, and finalise future state
- Set in place group data programme
- Establish an enterprise change management capability
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- A contract with Sapiens has been concluded to provide new line of business systems, digital enablement, enterprise data and business intelligence services over the next 36 months according to a detailed scope of work and programme
- The EPMO is fully established to deliver group-wide project execution, prioritisation and governance
- The enterprise architecture centre of excellence has been established to architect group-wide blueprints (target states) and road maps (plans to get from current state to target state) that support the realisation of the Alexander Forbes strategic pillars while increasing enterprise agility
- Immediate focus is to define a group data strategy supported by an effective data governance programme to enable the organisation to harness the data asset, drive better decision-making and sharing data across the group whilst ensuring data quality and integrity are maintained. The journey will include implementing policies, standards and a group data model required to manage our data as a strategic asset
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- The next few years will offer Alexander Forbes an exciting opportunity to digitally enable our organisation and bring in ‘best-in-class’ capabilities to help us achieve our strategic objectives. The modernisation team will be key in enabling and executing this change across all the business units
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- New enterprise-wide technology platform delivering the Alexander Forbes client value proposition complete with single view of client and all regulatory enablement
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- Internal risks: resource allocation, budget planning and skills set shortage
- External risks: natural and political disasters, major macroeconomic shifts
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Working with strategic partners:
- Assessing all support and operational services within the group and defining a future insourced vs outsourced model
- Reviewing all outsourced services arrangements
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- Work identifying all such services and outsource providers is under way, with future work on building business cases around each service or opportunity to either in- or outsource
- A review of vendor partners and ongoing vendor management in the IT division has commenced
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- Reorganising certain functions within the group will create positive operating leverage, which will deliver greater shareholder value
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- Enhanced efficiency through utilising partners that can offer greater cost and scalability advantages than performing services in-house. Insourcing of key services (currently outsourced) that are critical to control as part of the Alexander Forbes client value proposition and risk management framework
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- Regulatory constraints prevent commercially viable insourced or outsource arrangements
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Profitably grow the member base:
- Create capacity in administration and support services to profitably grow both organically and inorganically
- Support client pillars in new business acquisition
- Specifically target a range of pre-identified large clients in the admin-only space
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- The institutional and retail administration areas have been reorganised around specific product sets and functions
- Group-wide support around managing operational risk, system support and operational finance has been finalised. This creates clear accountability and allows capacity to be brought on seamlessly to support growth initiatives
- Partnerships and acquisitions are being looked at in conjunction with various group initiatives
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- A pipeline of targeted new business is being developed with a specific segment and with a client value proposition that will enhance chances of success as opposed to competing in open tender processes where price is largely the determinant
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- Grow the total member base at market or above market growth rates across all segments profitably
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- Macro conditions inhibit long-term formal sector employment growth
- Delivery of the modernisation programme fails to provide scalab
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