Supporting shared IT services to
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It’s imperative to respond to new market dynamics and downward cost pressures. But this presents a challenging conundrum for life sciences companies. Globalization creates new opportunities but increases competitive pressures. Competition from generics is growing, as patents on blockbuster drugs expire. Big swings in global demand and broader regulatory oversight create even more challenges.
Life sciences companies must look to IT to help shape their business strategies and drive innovation. To achieve this goal, IT executives need to understand business goals and create strong partnerships between IT and business units. By evolving their IT models and systems to be more agile, companies can make it easy to work together across their ecosystems, sustain a competitive edge, meet regulatory and privacy requirements, leverage global economies of scale and support business innovation.
Join BearingPoint Managing Director, Lowell Alcorn, as he explores the strategies needed to understand loss mitigation. In recent weeks we’ve seen all the turbulence within some huge financial services organizations, and many are wondering what lessons can be learned from this crisis. When speaking with Lowell Alcorn, he explained that the two most important take-aways from the crisis are the need to improve risk management and managing data through aggressive loss mitigation. Key executives need to understand their risks and be able to report those risks. Many organizations also need to tighten up their aggressiveness around loss mitigation. Each and every company out there should be able to fulfill those two requirements when conducting business.
For future success, key executives should outline clear incentives, process and partnership changes. These three elements will keep a disaster from happening again. For example, as loans are being put together, we need to ensure that securitization documents need to be reviewed and possibly rewritten; a great case for proper process changes. The investors who own the loans need to form a tighter relationship to outline some common incentives. This will define a clear partnership where incentives are agreed upon. These investors also need to have leeway. Right now it’s contractually based, but there needs to be more agreement to ensure a successful outcome.
By making the necessary changes outlined, it will provide the end customer with more flexibility and stability in the future. This flexibility might provide someone with the opportunity to stay in their home, or different options to make payments. This will also ensure that the end customer has provided a lot more documentation prior to being granted funds they’ve requested. This crisis has taught us that we need improved risk management and reporting both internally and externally to ensure that risk is managed appropriately and that everyone involved is up-to-speed on how and why the transaction transpired.
Join BearingPoint Managing Director, Brian Hart, as he explores the importance of an adequate risk and performance platform and how it can help companies deal with the credit crisis. Given the scope, depth, and length of this crisis, our clients are clearly being forced to re-examine how they conduct business. The issues that we see are the most prevalent are the need to access capital, how to fund a balance sheet, earnings, acquisitions and dispositions, government intervention, and most importantly- the speculation around change. When an organization deals with these issues on a day-to-day basis, like we see happening now, we know we’ve entered crisis mode. This has many companies wondering what went wrong and how can we better equip ourselves for the future?
The single most important thing that needs to be addressed is the realization of how much capital is being used at a given time. Most people don’t realize how much capital they’re using because of their lack of transparency, and when they finally realize it, it’s too late. To come out of this, we’re asking people to watch very closely how much capital they are spending and to cut any unnecessary costs. This can be done by acknowledging the need for better data management and risk capabilities. BearingPoint has addressed this with a seven point analytical strategy that can assist clients with understanding what changes they need to make. In the podcast, you will hear important points, such as how to manage data, estimate risk, change current business processes and how to implement an integrated risk and performance framework.
Clearly this crisis has exposed a number of weaknesses in risk management across the sector. Most organizations still have basic issues around risk and transparency. This podcast addresses key areas that are lacking in the risk management sector; such as understanding your risks, what risks are making you money and how effectively your trading machine is working? There are many changes that need to be made across the entire financial services sector, and the key points that are addressed in the podcast can help you itemize an action plan to take the appropriate measures to ensure future success.
Join BearingPoint Managing Director, Paul Ringmacher, as he discusses how BearingPoint recently helped a major North American bank replace a paper-based loan origination system for its small-business customers.
When completed, the project took small-business banking loan origination to a new level. An inefficient manual, paper-based system was transformed into an intelligent Web-based, front-end loan capture system used by bankers in the field. The project also features automatic interactions with back-office systems. In the first three months, the initiative became a field-tested success.
Today, it delivers straight-through processing, significantly decreasing front-end submission times, reducing decision times from up to six hours to less than 10 minutes—in most cases—and significantly lowering administrative overhead and application processing costs.
Environmental concerns are not new and Green IT efforts are gaining ground at many companies, both big and small. Green IT solutions are available of course, but how else can businesses become more green? BearingPoint is searching for some new thinking on the topic.
We launched a contest on Facebook for the best new opinions on how businesses can become more environmentally conscious in their operations. Facebook users can contribute their ideas for the enterprise and pass those (and others) along to their friends and the larger Facebook community to vote on by Nov. 15. (And yes, the winner gets a green prize.) While a contest or giveaway on Facebook is not new, the use of Facebook as a method of cultivating ideas is something few companies are doing. The contest hopes to unearth some new approaches that businesses can take to increase their environmental efforts while also increasing their bottom line.
Join BearingPoint Senior Business Advisor, Larry Taylor, as he explores some of the risk strategies that can assist with market survival. With all the turmoil in the financial services space in recent weeks, it’s important to know how the industry got in to this ‘mess’ to prevent future occurrences. In this podcast, we discuss the fundamental changes that every company needs to make, as well as steps to go about implementing.
The major change all companies need to make is to dispose of non-working assets. If an asset hasn’t been profitable in over a year, it’s time to move on. Another change that is focused on is the need for regulatory compliance. Each and every organization needs to emphasize regulatory requirements efficiently. Lastly, you need to “shrink smart” and manage risk management in an appropriate fashion.
Throughout this podcast you will learn the “right” way to cut expenses and how to keep the regulators happy. We also found that there are many financial institutions that have remained successful despite the recent downturn. Tune in to learn the secret to their success and ways to bring their strategies into your own environment.
A podcast with Nancie Leibowitz, Director of HR Technology, Constellation Energy. Series 1 of 2
We joined our Oracle team at the recent Oracle OpenWorld event in San Francisco, CA. The event gave us the opportunity to sit down with new thinkers in various industries and get their take on Oracle and the future of IT strategies.
In this podcast, we caught up with Nancie Leibowitz, Director of HR Technology at Constellation Energy. Nancie discusses exciting developments in the utilities industry and the opportunity for information technology to improve efficiencies in HR operations. She talks about onboarding and SOA and how Constellation Energy is hoping to use Oracle’s future Workforce Lifecycle Management solution to become more productive and provide better services.
(Oracle Open World 2008 – Constellation Energy)
About Nancie Nancie Leibowitz is Director of HR Technology at Constellation Energy, the nation’s largest competitive supplier of electricity and wholesale power seller. Responsible for their entire suite of HR Applications, Nancie is currently leading the Employee Onboarding initiative in support of Constellation’s overall HR strategic plan.