Reinvigoration Saved NatWest Millions in Redirected Resources

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    Reinvigoration Saved NatWest Millions of Pounds Through Elimination of Unnecessary Projects

    Executive Summary

    In a period of rapid change, NatWest was under increasing pressure to deliver effective operational performance. There was no clearly articulated strategic plan in place, creating a significant disconnect between the strategic intent of the executive team and the change activities being led further down the organisation.

    Reinvigoration worked with the executive team, helping them to define breakthrough strategic objectives through a series of workshops and discovery activities. All current change efforts were assessed, and resources and investment were redirected toward projects that contributed to the achievement of the new objectives. This process saved NatWest millions in redirected resources and ensured that change activity aligned with strategic direction.

     

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    2. NatWest GroupClient Overview

    NatWest Group is a leading financial services company headquartered in the United Kingdom.

    It offers a wide range of banking and financial products and services to retail, commercial and corporate customers through its three main brands: NatWest, Royal Bank of Scotland (RBS), and Ulster Bank.

     

    The Challenge

    During a period of rapid change, driven by both the parent group and the regulator, NatWest was under increasing pressure and unable to effectively prioritise strategic change activity, whilst maintaining effective operational performance.

    There was no clearly articulated strategic plan in place, creating a significant disconnect between the strategic intent of the executive team and the change activities being led further down the organisation.

    These challenges led to expensive resources and investment being consumed on change efforts that didn’t contribute to the strategic direction of the business. That’s when they decided to engage Reinvigoration.

     

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    The Solution

    NatWest decided to seek Reinvigoration’s expertise to resolve those challenges and provide operations strategy support that would help NatWest develop a clear strategic plan.

    How Reinvigoration helped:

    1. We worked with the executive team, helping them to define breakthrough strategic objectives through a series of workshops and discovery activities.
    2. We deployed the objectives throughout the organisation
    3. We assessed all current change efforts to direct resources and investment towards projects that contributed to the achievement of the new objectives.
    4. We helped NatWest implement the strategic objectives across the organisation.

     

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    The Outcomes

    Reinvigoration helped NatWest to:

    • Successfully develop a new set of strategic objectives
    • Execute a thorough review of all existing change activity, with each activity re-assessed against the new strategic plan and paused activity where necessary
    • Redirect expensive resources and investment, helping them save millions of pounds
    • Develop a KPI dashboard, utilising our data visualisation expertise, allowing the executive team to see how their strategic plans were progressing
    • Leverage data to ensure all change activities are aligned with their business strategic direction

    The Conclusion

    Reinvigoration played a pivotal role in helping NatWest to transform its operations. By assisting the executive team in defining breakthrough strategic objectives and redirecting change activity, we helped the company save millions of pounds in resources and investment. We also ensured that change activity was aligned with strategic direction, making NatWest more efficient and effective in meeting the needs of its customers.


     

    To learn more about how Reinvigoration can help, connect with our experts.

     

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