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Integrated reference models to translate vision into action

Apr 25, 2013

A White Paper by Sopra Banking Software

To face changing customer demands and regulatory requirements – while benefitting from new technologies – banks must undertake major transformation efforts. However, planning and achieving this transformation is a complex task. When a business defines a certain strategy to respond to specific needs, the case can arise that IT and business provide different – or even contradictory – responses, as a result of miscommunication. In the case of major business transformation, many organizations are confronted with the need to better align their business and IT strategies.

When undertaking a transformation project, it is essential that the focus point be on delivering a solution that responds to the business needs. IT and business must understand each other’s needs and issues, and work together towards a shared objective, one that will offer an outcome that serves the organization’s objective. But how do you keep the focus on something as big and complex as a transformation project? How do you stay focused when the number and diversity of stakeholders – hence interests – is so large? How do you make sure all parties are on the same page and understand what’s at stake and what the ultimate goal is? How do you make sure that everything is taken into account and acted upon? How can you verify that each task done is part of a larger project with a common objective?

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