The importance of collaboration in achieving cost savings and business benefits within digital transformation projects

In today’s constantly evolving world, businesses must embrace digital transformation and strive for innovation in order to remain competitive

For many companies, this often involves undergoing a digital transformation project, a process of adopting new technologies and digital solutions to improve their operations, processes and their customers’ experiences. In this landscape, success often hinges on a company’s ability to effectively collaborate and form strategic partnerships.

Metfriendly are financial experts dedicated to providing effective and valuable products and services to members of the police service within the UK. In early 2021, they approached software solutions provider BBD to assist them with a project to replace their current Policy Management system and improve member servicing processes in order to provide cost savings to the business and their Members.

The engagement kicked off with an initial Health Check that allowed BBD to work closely with business and technology stakeholders at Metfriendly to assess the current operational environment and to determine the issues and challenges that they were facing. The Health Check meant that BBD had exposure to all relevant areas of Metfriendly, gathering knowledge and listening to the team in order to thoroughly understand the business, the business challenges, and the wider IT landscape – with the Members’ needs always at the heart of each discussion. Trust developed as the teams became more comfortable working together and it was this trust that became the key to successful project work.

Metfriendly understood the need for a real partnership with BBD at this stage. This collaborative approach allowed both companies to leverage their respective strengths and bring together a wealth of knowledge and expertise to ultimately create a truly innovative solution.

The level of commitment and effort that was required from the business was evident and Metfriendly committed to organisational change to free up key individuals to be involved in the transformation project. The effort needed from the Subject Matter Experts and Product Owners as well as Project Sponsors was vital in ensuring that the solution would deliver the improvements, benefits, and defined project objectives.

This collaborative approach allowed both companies to leverage their respective strengths and bring together a wealth of knowledge and expertise to ultimately create a truly innovative solution.

Based on the success of the POC, a project was then initiated to develop a bespoke Policy Administration System with a customisable workflow that could easily be evolved in the future and that would mitigate the chance of manual error. This was not just an automation of existing process but a transformation project which would deliver a more cost-effective and resilient model for future system development and growth that could deliver exceptional service to the Members. Mapping strategic objectives to measured outcomes is also essential in tracking real benefits and reaching those targeted goals.

As of January 2023, the project has already enabled faster application processing for both for the Members and the Members Services team. It has delivered a significant reduction in paper usage within Metfriendly, increasing the use of online communications while continuing to support Members who prefer to engage outside of the digital process.

As the project progresses, the collaboration between BBD and Metfriendly continues to be critical to its success. The teams continue to work closely together always maintaining the high standards of quality that are so important to both organisations.

In conclusion, the collaboration and partnership between BBD and Metfriendly serves as a prime example of the value that can be achieved through effective teamwork and strategic partnerships. By leveraging their strengths and expertise, the two companies will be able to develop a bespoke system that will not only replace but improve processes and overall resilience to growth. This partnership has also been key to creating an exceptional team that is able to strive and to listen, understand and develop a technology solution that will allow Metfriendly to grow and provide a best-in-class service to their Members.

If you’re interested in learning more about digital transformation projects, click here.

Metfriendly
Metfriendly provides a range of flexible financial solutions designed for members of the extended police services in the UK. In operation for 130 years, the company’s mission is to be a commercially strong and modern mutual society with the financial security of the police family at its heart. Metfriendly offers services for regular savings, investments, protection and insurance.
www.metfriendly.org.uk