Providian Trust
Providian Trust Case Study
Executive Summary:
Providian Trust is a company which is rich in tradition, experience, and a high level of customer service, but was void of technology, information management, and therefore also void of an IT competitive advantage. Providian Trust was in major need of reengineering and simply implementing a new software system (Access Plus) was not going to give the company a competitive advantage. The company was going to need a dramatic redesign of business processes and intense “reprogramming” of most of the employees as well as the implementation of leading edge software and information technology solutions if it was to again be profitable and become a competitive player. With the implementation of the Access Plus system, came the reduction of 180 jobs within the company. This put a tremendous strain on the Human Resources Department, causing the department to resist the implementation of the project. CEO Stephen Walsh faced much scrutiny over the decision to convert from Providian’s outdated information system. After much reflection, Walsh decided to move ahead with the conversion process. His decision would play a role in redesigning the Providian image.
Overview:
Providian Trust was a major trust company that provided financial and fiduciary services. Its principal source of revenue came from residential and commercial mortgages, and consumer and corporate loans. Michael LeBlanc, the Senior Vice President of Trust, Investment and Treasury, led the project aimed at reengineering Providian Trust's business processes by implementing a major software system called Access Plus- an asset management system developed by Select One. In 2004, Providian Trust was slowly slipping away from profitability and was allowing competitors to become more attractive to new and existing clients. The problems that Providian were facing were not going to be resolved by only implementing new technology, but rather a new environment and
Executive Summary:
Providian Trust is a company which is rich in tradition, experience, and a high level of customer service, but was void of technology, information management, and therefore also void of an IT competitive advantage. Providian Trust was in major need of reengineering and simply implementing a new software system (Access Plus) was not going to give the company a competitive advantage. The company was going to need a dramatic redesign of business processes and intense “reprogramming” of most of the employees as well as the implementation of leading edge software and information technology solutions if it was to again be profitable and become a competitive player. With the implementation of the Access Plus system, came the reduction of 180 jobs within the company. This put a tremendous strain on the Human Resources Department, causing the department to resist the implementation of the project. CEO Stephen Walsh faced much scrutiny over the decision to convert from Providian’s outdated information system. After much reflection, Walsh decided to move ahead with the conversion process. His decision would play a role in redesigning the Providian image.
Overview:
Providian Trust was a major trust company that provided financial and fiduciary services. Its principal source of revenue came from residential and commercial mortgages, and consumer and corporate loans. Michael LeBlanc, the Senior Vice President of Trust, Investment and Treasury, led the project aimed at reengineering Providian Trust's business processes by implementing a major software system called Access Plus- an asset management system developed by Select One. In 2004, Providian Trust was slowly slipping away from profitability and was allowing competitors to become more attractive to new and existing clients. The problems that Providian were facing were not going to be resolved by only implementing new technology, but rather a new environment and