Suma Soft Enhances IT Efficiency for a Leading Financial Institution

Client's Background

A prominent multinational financial institution operates within a highly regulated sector. The institution aimed to ensure the security and integrity of sensitive financial data, operational efficiency, and a seamless experience for its internal users. The institution's vision was to create a robust and scalable ServiceNow environment that would enable them to address IT challenges and drive business agility proactively.

Challenges

  • Data Integrity:

    Inconsistencies and inaccuracies in its ServiceNow data led to unreliable reporting and hindered effective decision-making.

  • Process Efficiency:

    ServiceNow's existing IT processes were often manual and inefficient, resulting in delays and increased operational costs.

  • System Scalability:

    The organization struggled to handle the growing volume of data and increasing user demands, posing a performance risk.

  • Regulatory Compliance:

    Maintaining compliance with strict industry regulations was a significant challenge, requiring continuous monitoring and updates.

Project Requirements

  • Data Management:

    Data management practices that provide consistent record-keeping. Proactive monitoring and security measures that protect data and improve data accuracy and integrity by 95%.

  • Automated Workflows:

    Streamlined ticketing and approval processes, and automated workflows empowering employees to focus on achieving business goals and reducing compliance-related workload by 30%.

  • Scalable System:

    With growth and unexpected challenges, ServiceNow Managed Service provider can scale businesses by adjusting our resources and services to meet their evolving needs and reduce critical IT incident resolution time by 50%.

The Suma Soft Approach

Suma Soft provided customized ServiceNow Managed Services that were aligned with the financial institution's needs, focusing on compliance, process automation, and system scalability. Continuous monitoring and support ensured consistent performance during peak operational demands, enhancing user satisfaction and service reliability.

ServiceNow Solution

  • Robust Data Governance Framework :

    Suma Soft's ServiceNow solution established a robust data governance framework that ensured the accuracy and compliance of all records. This resulted in a 98% data accuracy rate, exceeding the project goal.

  • Streamlined Ticketing and Approval Workflows :

    Advanced automation streamlined ticketing and approval workflows, providing seamless operation of your platform. The average time to process a service request was reduced by 40%.

  • Reduced Delays and Manual Interventions :

    Workflow automation reduced delays and the need for manual interventions, ensuring a seamless, well-managed, high-quality service delivery model. Manual intervention in incident management was reduced by 60%, and change management was reduced by 50%.

  • Enhanced System Scalability :

    Performance tuning and adjusting our resources and services to meet your evolving needs enhanced the system's scalability, enabling smooth operations even during high-demand periods.

  • Proactive Monitoring and Support :

    Proactive monitoring and support bolstered system reliability, ensuring uninterrupted services. System downtime was reduced by 90%.

  • Compliance with Industry Regulations :

    The solution supported compliance with industry regulations. The overall approach created an efficient, compliant, and scalable IT environment. The time spent on compliance-related tasks was reduced by 45%, exceeding the project goal.

Conclusion: Empowering IT to Support Compliance and Growth

Implementing ServiceNow Managed Services helped the financial institution overcome its IT challenges and meet regulatory requirements, leading to the following:

  • 98% Uptime for critical IT services

  • Met Regulatory Requirements

  • 40% Reduction in IT operating costs

  • 45% Reduction in compliance-related tasks

  • Robust IT Environment

  • 75% increase in user satisfaction with IT services

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