The client is a leading expense and asset management solutions provider managing over $15B in technology spend annually for 1,000+ clients, including 50% of Fortune 500 companies. It optimizes spend and resources across telecom, mobile, cloud and IoT.
The client needed to optimize spend across several IT categories in order to improve operations. The small IT team faced challenges evolving the IT function and delivering infrastructure that could support innovation and growth. They needed to reduce existing IT complexity, improve automation, and control cost. They were looking for a partner that could help them achieve their goals by up-skilling the team with greater expertise and better tools while upgrading the entire IT operations including service desk, SOC/NOC, end user computing, and infrastructure.
Persistent had a successful track record supporting other portfolio companies which were controlled by the private equity partnership that had acquired the client in 2017. Persistent agreed to a multiyear IT outsourcing and transformation contract to rebadge company in-scope resources and transform the large enterprise IT landscape.
Persistent proposed an approach to future-proof IT operations and improve alignment to business growth, while reducing the spend on IT operations. The dual transition and transformation approach enabled a proprietary Persistent Intelligent Operations 2.0 framework and several tools such as SummitAI, LogicMonitor, CoreStack, and Anakage to modernize the client’s IT landscape while executing a zero disruption transition.
Persistent helped simplify operations, consolidate its delivery centers, and transform with an automation first approach. With Persistent’s support, the client launched a new comprehensive technology expense and asset management platform.
Persistent deployed a global support team across US, Europe, India, and Australia with a lean and right-shored blended taskforce of client SMEs and technology practitioners.
The IT transformation program resulted in a 30% improvement in KPIs and enabled the client to position themselves as a next-gen technology expense management platform, focus on strategic initiatives, and improve the customer experience. The company also is on track to achieve a 30% cost savings in OPEX over 5 years with the flexibility to improve it year-on-year and improved accuracy in predicting costs through a unit pricing model.
The client unlocked important budgets, doubled its revenue, expanded operating margins, and ultimately delivered industry leading shareholder returns.
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