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Co-Sourcing – First Principles First; Simple Best practices to get the most out of an outsourcing relationship “ In this joint customer success stories session, Rajiv Pant, North America President, Hexaware Technologies and Hong Loh, Managing Director IT, Legg Mason shared their views from both sides of a successful co-sourcing relationship. They also discussed about the benefits derived and lessons learned from their strategic relationship.
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Co-Sourcing – First Principles First; Simple Best practices to get the most out of an outsourcing relationship
www.IAOP.org
Copyright © 2011 IAOP. All Rights Reserved.
• Hexaware Overview• Legg Mason Overview• Engagement Overview• Benefits Derived• Lessons Learned
Agenda
Copyright © 2011 IAOP. All Rights Reserved.
Proximity CenterDelivery CenterSales Office
Singapore
Sydney
TokyoMumbai
PuneChennai Bangkok
Frankfurt
London
Paris
Brussels
DubaiSan Jose
Chicago
Toronto
Boston
New JerseyAtlanta
MexicoBengaluru
Nagpur
• Leaders category for The 2010 Global Outsourcing 100 by IAOP
• Ranked N0: 18 in the NASSCOM’s Top 20 IT Service Providers India
• Best Employers for five consecutive years (2005 – 2009) - Data Quest IDC
• Top 100 Innovative service Provider by Global Services
• CIO 100 Ingenious Award
• #22 Employee Satisfaction Survey ‘09 DQ- IDC
6500 Employees globally (Sep’10)
60+Fortune/Global 500 clients (Sep’10)
32Offices worldwide
167Active Clients served worldwide
(Sep’10)
214.7 USD mn Revenues in CY ’09
Delivery centers in Mumbai, Chennai, Nagpur, Pune, Mexico, Bangalore, New Jersey
Industry Recognitions
Golden Peacock Award
CertificationsCMMI Level 5, ISO 27001, PCIDSS
Hexaware Overview: Key Facts
Copyright © 2011 IAOP. All Rights Reserved.
• A diversified global asset management firm, founded in 1899
• Headquartered in Baltimore, Maryland, USA
• $672 billion in assets under management as of December 31, 2010
• Approximately 3,550 employees with 34 offices around the world including New York,
Miami, London, Tokyo, Singapore, Hong Kong and Australia
• Principal affiliates include: Western Asset Management (Fixed Income), Permal Group
(Fund of Hedge Fund), Royce and Associates (Small-Cap), ClearBridge Advisors
(Equity), Legg Mason Capital Management (Equity Value), Brandywine Global (Fixed
Income, Equity) and Batterymarch (Quantitative)
• Global distribution capabilities with leading partners, including banks, brokerage firms,
insurance companies and independent advisors
Legg Mason Overview: Key Facts
Engagement Overview
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Copyright © 2011 IAOP. All Rights Reserved.
Key Drivers for the Initiative
• Reduce IT costs per resource hour• Create shrink & grow ADM capacity• Expand breadth & depth of expertise at LM• Improve process capability• Increase operational excellence
– Quality– Productivity– Time to market
• Leverage resource pooling model
Expectations from Strategic Partner
• Help achieve cost reduction through global execution model
• Be a partner-advisor rather than a vendor: Guide, Handhold and work jointly to make the relationship successful
• Provide the right blend of resources:– Technical– Domain– Process – Management
• Bring in the Best of Breed methodology • Ability to ramp-up and ramp-down resources
using a flexible execution model• Proven Track Record• Continuous Improvement through operational
excellence and solution accelerators
Legg Mason’s Objectives
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• RFP released to vendors based on previous relationships & analyst recommendations
• Score-card to short list vendors
RFP Evaluation Process
Industry Knowledge & Experience Vendor 1 Vendor 2
Experiences specific to the LM business & technology context
Company Qualifications:
Ability to service requirements
Transition Methodology
Governance Framework
Risk Management & Exit Strategy
• Detailed due diligence with workshops to identify final partner
– Measure depth of expertise by meeting hands on Project Managers, SMEs through simulation of specific project scenarios
– Reference checks
• Measure alignment of cultural values of the 2 organizations
• Successful deployments of projects
• Contract Negotiation
Copyright © 2011 IAOP. All Rights Reserved.
• Hexaware strengths are very closely aligned to the LM global sourcing objectives
– Experience in similar engagements with multiple Asset Managers
– Domain & technology experts in line with the LM context
– Relationships with relevant product companies – Eagle, Thomson Reuters
– Leadership in PeopleSoft Services
– Specialized QA Solutions
• BPT Accelerators
• Pre-built test scenarios for Asset Management
– Strong Execution Capabilities combined with Solution Accelerators in J2EE, .Net, BI & BA tools
• Key Customer References
• Company Size & Values
– Flexibility & Scale
– Service oriented
– Alignment with long term cost objectives
Why Hexaware?
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Engagement Approach
Planning
• Envisioning
• Setup Governance Model
• SLA Definition
Transition
&
Execution
• Infrastructure • Setup
• PMO and Delivery Team creation
• Project Specific Transition
• Execution
• Measurement for SLA
Value Adds
• Improved SLAs
• Process optimization
• Y-o-Y Cost Savings
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Process Harmonization Framework
Service PhaseService Phase
Process Harmonization Framework Process Harmonization Framework
Planning PhasePlanning Phase Pilot PhasePilot Phase
Legg Mason’sMethodology
HexawareMethodology
Initialmethodology
ODC Specific Process 1
ODC Specific process2
ODC Specific Process 3
ODC Specific Process 4
GoingForward
Methodology
RefineDefine Optimize
Hexaware processes
Legg Mason
ODCSpecific
Processes
Process Tailoring
ODC Specific Process 1
ODC Specific process2
ODC Specific Process 3
ODC Specific Process 4
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Phase 1PlanningPhase 1Planning
Phase 2 Knowledge Transfer
Phase 2 Knowledge Transfer
Phase 3 Responsibility Transfer
Phase 3 Responsibility Transfer
Phase 4Steady State
Phase 4Steady State
Responsibility Matrix SLA
Offshore Development Center - Knowledge Base
Hexaware’s Proprietary Transition Framework
Legg Mason Hexaware
Phase 5 Value Add
Phase 5 Value Add
Reverse Shadow Onsite
Reverse Shadow Offshore
Project Planning
KTOnsite
ShadowSMEs
BusinessAs
Usual
Value AdditionPlan &
Delivery
Knowledge Transfer Offshore
Project Specific Transition
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Domain Center of Excellence Program Management Technology Center of Excellence
Legg Mason Hexaware Onsite Hexaware Offshore
Acquire Business Knowledge
Analyze and document the existing functionality
Business Specifications for new systems
Technical Specifications
Coding and Unit Testing
Maintenance & Support
Documentation
Dis
cove
r &
A
naly
ze D
evel
opm
ent
Transition Process
Planning
Implementation/ Production Rollout
Knowledge Transfer & Responsibility Transfer
Testing and QA Activities
UAT
Tools, Adaptors, Components, Accelerators
System Testing
AS
M
On-Site / Offshore Execution Model
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CoE Model
Standardization Of
Development PracticesImprove Operational
Efficiency
• Project Initiation / setup• Technical Helpdesk• Improvements/Innovation
• Project Initiation / setup• Technical Helpdesk• Improvements/Innovation
• Whitepapers• Reusable Components• Best Practices sharing
• Whitepapers• Reusable Components• Best Practices sharing
Benchmarking
Performance
Cost Of Delivery
Focus
• Methodologies• Tools• Framework
• Methodologies• Tools• Framework
• Expertise Building• Role Based Training• Prototypes / Pilots
• Expertise Building• Role Based Training• Prototypes / Pilots
Center Of Excellence
1 2
4 3
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Suggestion Analysis
Project Specificprocess
Process Assessments
Causal Analysis
Non-conformanceAnalysis
Metrics Analysis
ProcessImprovement
Plan
ProcessImprovement
Plan
Process Improvements
Process Improvements
Improved Performance
Improved Process
•Goals and objectives•Impact Analysis•Work Planning
Reviews, Audits, Senior Management reviews,
Metrics, Quantitative goals, Status reporting
Reviews, Audits, Senior Management reviews,
Metrics, Quantitative goals, Status reporting
Defect prevention
Technology Change
Customer Feedback
Improved Capability
•Build IP/Tools/
Accelerators•Use IP/Tools
for improvement
•Change Management•Configuration Control
•Process Release •Process Training
Continuous Improvements Framework
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Governance Model
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SLA Data Capture SLA Tracking SLA Analysis SLA Reporting SLA Performance Review
Tools
Help Desk
Project Manager
Team Leader
Team Member
Project Director
Steering Committee (SC)
Update Call Log
Prioritize / Assign
Case Tracking Tool
Daily Consolidation
Inquiry Reports
Weekly Consolidation
SLA Weekly
Analysis
Analysis Reports
Generate SLA Report
SLA Report
SLA Review
Monthly Operational
Review
Presentation Template
SLA Tracking & Reporting Process
Benefits Derived & Lessons Learned
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Benefits
• Flexibility to scale the resource pool up & down
• Resource risk mitigation
• Standardized processes & documentation
• Continuous development
• Test Accelerators & other IP
• Flexibility in Account Management
• ‘Near-shore’ center
• Alignment with long term cost objectives
Benefits Derived
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Lessons learned
• Cultural differences
• Issues with night-shift
• Fitment issues with re-badging
• Continuous fact-based refinement of metrics for defining success
• Continuous education of the organization about the model beyond the initial months
Lessons Learned