Suma Soft Revolutionizes Strategic Portfolio Management for a Global Retail Giant

Client's Background

A multinational retail corporation with a significant global presence operates a hybrid business model, combining a network of physical brick-and-mortar stores with a robust suite of digital platforms. The organization's key focus is maintaining its market leadership and embarking on a digital transformation journey with ServiceNow as a central component. The company prides itself on its strong brand recognition, established supply chain, and dedication to providing a seamless omnichannel experience.

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Challenges

  • Complex Portfolio Management:

    The corporation faced the challenge of managing a diverse and complex portfolio of IT and business projects across multiple regions and business units.

  • Digital Transformation Alignment:

    A key concern was ensuring that all projects aligned with the digital transformation strategy and contributed to the desired business outcomes.

  • Visibility and Control:

    It was a significant challenge to gain comprehensive visibility and control over project progress, resource allocation, and financial performance across the portfolio.

  • Modernizing Project Management:

    Moving from older project management practices to a modern, scalable, and adaptable system.

Project Requirements

  • Integrated system:

    A modern and integrated solution that tracks progress and manages risks, resources, and underutilized assets for effective communication and collaboration, aiming for a 60% improvement in cross-functional team communication.

  • Prioritization of initiatives:

    A team better at prioritizing multiple demands, which promotes well-informed decisions leading to accelerated return on investment, targeting a 35% increase in the number of high-priority projects completed on time.

  • Resource management:

    A ServiceNow system that provides an overview of the staff capacities, allocations, and availability to track work across teams, reducing bottlenecks in critical areas by atleast 45%.

  • Complete visibility:

    Real-time insights to monitor progress, make strategic adjustments, and 50% improvement in project forecasting accuracy, predict risks and dependencies to make informed decisions.
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ServiceNow Solution

  • Unified platform:

    The enhanced ServiceNow SPM module provided the client with a unified platform for managing its diverse project portfolio, leading to a 40% improvement in portfolio oversight efficiency, achieving better organization, promoted well-informed decisions.

  • Real-time insights:

    Decision-makers gained access to real-time analytics and insights, enabling them to monitor project health, resulting in a 60% improvement in project reporting accuracy, resource utilization, and overall performance.

  • Automated workflows:

    Automated workflows helped reduce manual tasks, improving efficiency and ensuring timely approvals and updates, contributing to a 35% reduction in project cycle times.

  • Scalable design:

    The scalable SPM system allowed the client to adapt quickly to evolving business demands and future growth.

Business Outcome

  • Increased Operational Efficiency:

    Our Strategic Portfolio Management enabled greater efficiency across operations through optimized workflow, leading to a 25% improvement in overall operational efficiency.

  • Data-Driven Decisions:

    Integrating ServiceNow's SPM module empowered the client to make data-driven decisions, resulting in a 40% improvement in strategic decision-making effectiveness.

  • Optimized Resource Allocation:

    Optimized resource allocation maximized team effectiveness and led to to a 45% reduction in project costs achieving maximum impact.

  • Faster Project Delivery:

    With ServiceNow SPM Services, the client achieved projects delivered faster, accelerating improvement in time-to-market by 30% for new initiatives and realized benefits sooner.
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