• Client: A leading multinational bank’s Treasury Department

• Industry: Banking and Financial Services

• Requirement: Improve the efficiency, accuracy, and user experience of the Treasury team’s bank portal management.

• Solution: Utilized ServiceNow ITSM to enhance processes, improve workflows, and provide actionable insights with a focus on human expertise and collaboration

Background

In the rapidly evolving banking sector, the Treasury department of our client, a prominent multinational bank, faced challenges with their bank portal management. Manual processes and fragmented systems were creating inefficiencies, leading to delays and inconsistencies.

Challenges

• Complex Workflows: Existing processes were cumbersome, requiring significant manual effort, which led to errors and inefficiencies.

• Lack of Coordination: Disparate systems and teams working in silos hindered effective collaboration.

• Insufficient Visibility: Limited access to real-time data and insights made proactive decision-making difficult.

Our Approach

GRhombus adopted a hands-on approach using ServiceNow ITSM, focusing on improving manual processes, enhancing collaboration, and enabling data-driven insights.

Key Steps

1.Process Enhancement:

• Streamlined Workflows: Conducted detailed workflow analysis to identify bottlenecks and inefficiencies, optimizing processes to reduce redundancies and manual errors by 50%

• Customized Task Management: Developed tailored task management solutions to align with the specific needs of the Treasury team, ensuring clarity and accountability.

2.Enhanced Collaboration:

• Cross-Functional Team Coordination: Facilitated regular workshops and training sessions, improving communication and collaboration between teams and breaking down silos.

• Shared Knowledge Repositories: Established centralized repositories for documentation and knowledge sharing, increasing team alignment and efficiency by 40%.

3.Actionable Insights:

• Improved Reporting Mechanisms: Designed intuitive reporting tools within ServiceNow, enabling team members to access critical data and insights quickly, enhancing decision-making capabilities.

• Manual Data Analysis: Trained staff to interpret data manually, fostering a deeper understanding of trends and patterns that inform strategic decisions.

Results

• Improved Efficiency: Streamlined processes reduced manual workload by 50%, allowing the Treasury team to focus on high-value tasks.

• Enhanced Accuracy: Achieved a 60% reduction in errors through meticulous process review and optimization.

• Proactive Decision Making: Provided the team with actionable insights, enabling timely and informed decisions.

• Increased Team Cohesion: Boosted team collaboration and morale, resulting in a 30% improvement in user satisfaction.

Conclusion

Through a strategic focus on manual process improvement and team collaboration, GRhombus successfully optimized the Treasury team’s bank portal management using ServiceNow ITSM. By emphasizing human expertise and coordination, we delivered a solution that not only resolved existing challenges but also positioned the department to thrive in the face of future demands.