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BEST PRACTICES FOR ENGAGING THE FRONT OFFICE DURING TECHNOLOGY TRANSFORMATION SERVICES AND PROJECTS
It takes special management within a client’s front office technology. Think of the traditional Business Analyst (BA) and Project Manager (PM) skills. Some of the best practices to improve access can include:
BUILDING RELATIONSHIP CAPITAL
Building trust with the front office team is crucial as a business analyst or project management consultant for investment operations and technology transformation services in a digital consulting office. Earning the trust of the front office is no easy feat, but it is an essential aspect of your job. The front office trusts you to represent and instruct them when applying modern methodologies to everyday tasks and technology.
You must consistently do what you say you will do while being an active and attentive listener who can adjust your approach to align with their needs and goals. When you consistently demonstrate reliability and flexibility within modern applications, you will earn their trust and be better positioned to provide effective guidance.
UNDERSTANDING COMMUNICATION PARAMETERS
Effective communication is essential for any successful project, especially with the front office. Relying solely on email can be ineffective due to the sheer volume of emails front office team members receive.
As a business analyst or project manager consultant, it is crucial to understand preferences and personalities to communicate effectively. In-person communication is often preferred, allowing for more efficient and concise information exchanges without disruption. Many times, employees only communicate and provide specific services through technology. This communication does not build strong relationships with the front office.
A Front Office Project Manager should be visible and accessible. Sitting on the same floor as the front office can provide the opportunity to interact with them frequently, thus enhancing communication through technology or in-person and promoting a better understanding of each other’s roles, services, and responsibilities.
RESPECTING THE CADENCE OF THEIR DAILY SCHEDULE
When possible, avoid scheduling meetings with the front office. When meetings are necessary, it’s important to be considerate of their schedule. Meradia’s recommendation is to schedule meetings to begin after 1:00 pm and to end before 4:00 pm. This schedule will allow them to manage their revenue-generating activities without interruption through technologies.
When possible, conduct meetings on the same floor as the front office and in the same conference room. This meeting space will minimize disruption and make it easier for everyone involved.
On the day of, remind the front office of the meeting through communication technologies. Give them an indication when a meeting is about to start while on your way to the conference room. This will ensure everyone is on the same page and that the meeting can start on time.
PEOPLE MANAGING, NOT PROJECT MANAGING
Understand that the front office is the brain behind any firm’s investment strategy and to prioritize their objectives above all else through innovation and technologies. Meradia knows their job is to support the front office without disrupting their workflow or services.
ACKNOWLEDGING THE FRONT OFFICE’S WORKLOAD WILL SIGNIFICANTLY INCREASE DURING THE PROJECT
The front office team starts their day and services earlier than others, and their work is crucial to the company’s success. Working on projects outside their regular hours without extra compensation is tough for them since they have no backup resources to handle their primary duties.
The front office does not usually have involvement in large-scale GSA’s technology transformation services and projects, so they do not have regular, increased workloads. The consultant services should encourage their cooperation and make sure they understand the benefits of participating in such projects. It can also give them the competitive edge they will need to improve alpha.
CONVEYING THE BENEFITS OF THE PARTNERSHIP
A good goal is to ensure that front office teams feel glad to be working with us during a transformation project. Large, GSA’s technology transformation services receive funding from a separate budget, which means that the team may not be responsible for the contract.
Meradia’s goal is to create a sense of unity through their services so clients feel like they are a part of their team, not just consultants. This approach allows them to deliver superior results and helps clients to achieve their goals more effectively.
PROVIDING SUPPORT AND LOYALTY
To be successful, there needs to be a balance between leading with a light touch, performing with the rigor of a project manager, and acting with the grace of a guest. Make sure to manage responsibilities and services while respecting clients’ time. Make the team’s jobs easier by becoming the point person for all project-related matters
Communication is key; try to deliver information clearly, concisely, and without disruption. Meradia is a professional at covering end-to-end project phases, including expected durations. Their depth of knowledge and experience enables them to guide clients through technology transformation services and changes, ensuring their investment operations run smoothly.
SPECIFICS OF A TRADING AND PORTFOLIO MANAGEMENT PLATFORM IMPLEMENTATION: A CONSULTANT SERVES AS AN INTERMEDIARY BETWEEN THE FRONT OFFICE SOFTWARE SOLUTIONS AND THE VENDOR
As a consultant managing trading and portfolio management platform implementations, you should keep a few key points in mind. Always prioritize the client’s objectives over those of the vendor. However, it is equally important to find a way to incorporate both perspectives into a unified vision. Do not try to pit them against each other – instead, work to build a positive relationship between the client and the vendor.
Collaboration is key to success, both for you as the consultant and for the project as a whole. The vendor is usually the subject matter expert on the implementation, but there is always room for interpretation and potential solutions.
Here are some examples of scenarios consultants should notice and remediate:
THE CLIENT IS NOT FULLY GRASPING WHAT THE VENDOR IS COMMUNICATING TO THEM.
- When a client does not fully grasp the concept, it could be a result of a communication gap. They might assign their skills to a wrongly picked position that involves the front office and vendor. Both teams should be on the same page and fully understand the key terms used within a project.
CERTAIN INDIVIDUALS ON THE CLIENT AND/OR VENDOR TEAMS ARE NOT GETTING ALONG WELL.
- Step back and see the root cause of a conflict like this. After that, try to resolve it as equally as possible. One way to do this is by changing the front office or vendor points of contact, but only if absolutely necessary. If this does not work, you may need to escalate the issue to vendor or client management.
CERTAIN MEETING TOPICS AND/OR DURATIONS OVERWHELM OR FRUSTRATE THE CLIENT.
- Make it clear to the front office why specific topics need to be focus points and why attending meetings is important. Giving them this heads up can reassure them to support the subject matter in a different, more positive way.
HOW MERADIA CAN HELP WITH TECHNOLOGY STRATEGY
What sets Meradia apart from its competitors is its proven process in modern applications which it recognizes through years of experience in the industry. This process ensures that they handle projects with poise and precision and that they keep client stakeholders in the loop every step of the way.
Unlike traditional project plans, which often fail when attempting to manage a complex tech transformation through software solutions, Meradia’s approach is unique to each client’s needs and requirements.
Meradia is an investment company that has established itself as a trusted partner for companies looking to transform their tech infrastructure. With a team of expert consultants and a proven process in modern applications, Meradia is ready to help companies of all sizes and industries, in navigating the challenges of the modern digital landscape and thrive in the ever-evolving world of finance and technology.