The financial services sector has become dependent on spending vast amounts of money with large consultancies and systems integrators that fail to deliver any major changes or reap any benefits.

Jan Joubert, CEO at digital transformation specialist Rainmaker, passionately shares his view:

His blunt message to chairmen and chief executives is that they need to break the habit fed by the IT industry, big consultancies and IT departments.

He warns: Corporate IT and outdated procurement practices perpetuate this archaic approach to systems and contracts. It often comes in the guise of a seemingly shiny, but actually ill-fated target operating model. Requirements are set at a fixed moment in time and are often spurious, bearing little resemblance to user, customer and market needs.

To make things worse, they spend up to 18 months procuring a supplier to deliver this mess and lock them in for five to ten years.

This is sheer lunacy because by the time it is implemented, it will be two to three years out of step with the business, users and clients. It is obsolete on delivery.

Read more in the Raconteur article: Stamp out archaic practices.

We think you may also like.

Standardised IT integration for M&A success

Standardised IT integration for M&A success

  Political and economic uncertainty has contributed to the UK social housing sector undergoing significant consolidation during recent years. A large number of mergers and acquisitions have taken place in an attempt to save costs and create efficiencies.   A...

Remote Habits interview with Jan Joubert

Remote Habits interview with Jan Joubert

  Remote work is built into Rainmaker Solutions' DNA. See the beliefs that push us forward and the virtual activities that are building organisational trust. This interview is also available on remotehabits.com. What made you develop a remote work policy for your...

Remote working and wellbeing: download the guide.

Remote working and wellbeing: download the guide.

  Rainmaker has developed a white paper to support senior leaders responding to COVID-19.  It explores the current issues faced by organisations adapting to remote working and team management. The guide also outlines high level strategies, new ways of working and...

Rainmaker News

Sign up to get Rainmaker thinking direct to your inbox, just add and send your email in the field below

    Email Address Sent!

    By signing up with your email address you are giving us the permission to send you Rainmaker related news. We will not share or sell your data with 3rd parties.

    Giving Back

    We believe everyone should have the opportunity to reach their full potential. This is why why we are part of…

    Rainmaker News

    Sign up to get Rainmaker thinking direct to your inbox, just add and send your email in the field below

      Email Address Sent!

      By signing up with your email address you are giving us the permission to send you Rainmaker related news. We will not share or sell your data with 3rd parties 🙂

      Giving Back

      We believe everyone should have the opportunity to reach their full potential. This is why why we are part of…

      Visit us

      One Alfred Place

      1 Alfred Place

      London

      WC1E 7EB

      United Kingdom

       

      Google Map

      Get in touch

      +44 (0) 330 223 4407

      hello@rainmaker.solutions

      Copyright ©Rainmaker Solutions ltd 2020. All rights reserved. For company information and other legal stuff, see our Legal Page and Privacy Policy.