Business Change & Cost Transformation

What We Do>Our Capabilities>Business Change & Cost Transformation

To stay relevant and competitive, banks and insurers need to respond effectively and timeously to changes in their environments.

This can only be achieved if these institutions continuously implement operating and strategic change within their businesses, driving costs down and revenue up.

Often these kinds of change projects involve extensive systems, architecture, business, operating model and people changes, which significantly impact how data is managed and leveraged to make better business decisions. This is Monocle’s sweet spot – integrating these different aspects and enabling the execution of meaningful strategic change.

One of our key capabilities with respect to business change is the design and implementation of data governance and data management processes, procedures and frameworks for our financial services clients. This has become a critical area of concern for these organisations, who have realised that their data, and their clients’ data, is hugely valuable as an asset, to be cared for and properly governed, to meet all regulatory standards and to maximise the business benefit it provides.

At Monocle, we specialise in the execution of highly complex change projects that address multi-functional problems – for example, the integration of risk, finance and treasury processes, where one of those disciplines is undergoing significant change. We have been the lead consultants on major change projects at large financial institutions, specifically because we possess multidisciplinary domain knowledge and a sound technical skillset, and because we take a strong collaborative approach to every project we are involved with.

Our expertise in business change and cost transformation further includes technology business management, target operating model design and implementation, process and system automation and optimisation, cost excellence and cost transparency, strategic revenue enhancement, and fee structure optimisation.