American Credit Union Leverages Acorio’s Advisory Services to Mitigate Risk and Drive Employee Satisfaction

Today’s financial institutions must navigate shifting customer values, offer an unparalleled customer experience, capitalize on emerging technology, and deal with new regulatory demands – all while attracting and retaining the best talent to stay relevant. Lately, the global COVID-19 pandemic has hastened the impact of existing trends affecting the industry, such as a growing wealth gap, the steady switch to cashless transactions, and empowering new kinds of customer experiences beyond traditional brick and mortar models.

One financial institution facing these pressures decided to embark on a ServiceNow transformation that grew enterprise-wide. One of the largest Credit Unions in the United States, the organization prides itself on delivering a fantastic experience for its employees and members alike. Their inclusion on multiple lists of best places to work is a testament to their unique culture and strong commitment to their team and members.

Striving to deliver the agility and innovation needed to ensure long-term success, the organization realized a strong workplace culture and world-class product offerings wouldn’t be enough to differentiate them for employees and members alike. This was particularly important in the face of increasing competition from popular cash-processing apps like Venmo and Zelle, as well as rising M&A activity within traditional banks.

Looking to lock down their status as one of the best places to work for many years to come, they started exploring ways to increase retention and satisfaction by transforming the daily lives of their employees through enterprise service management and next-gen technology.

Spurred into Action

Aiming to redefine their employee experience to unlock a better customer experience for their members, the firm sought out ServiceNow’s unique ability to connect and streamline siloed business processes and provide accurate reporting and clear audit trails. Yet like many organizations implementing the platform, the team lacked the critical experience needed to develop a realistic long-term roadmap that would deliver its transformative value.

“According to Acorio’s 2020 Insight & Vision report, endlessly-growing roadmaps were a challenge for 43% of survey respondents. Without a clear vision and steadfast understanding of their end goal, companies struggle to create a clear and actionable plan.”

An Asset audit facing the Credit Union also hit the gas on their digital transformation efforts. They knew that their current IT environment did not provide sufficient visibility, agility, and real-time reporting to enable long-term security.

Implementing a true Enterprise Service Management platform that would give a holistic overview of all operations would transform not only their security and risk management but also their employee and customer experience.

To begin their ServiceNow journey the right way, the leadership team decided they needed a guiding force to help them create an effective roadmap that would realize all of their long-term organizational goals.


Driving Employee Engagement and Satisfaction through Meaningful Transformation

At the heart of the Credit Union’s mission is providing excellent service to their members. Because of the company’s strong commitment to their team, any digital transformation efforts needed to also align with this promise and their rich history of being one of the best places to work.

The project wouldn’t be a simple change of tools, but rather a multi-step organizational shift – the Credit Union knew they needed to understand how they were currently operating, evaluate how effective the current model was, and only then could they build a solution that aligned with their long-term goals.

The main project objectives were:

  • Achieve Audit Readiness: Demonstrate tangible and marked progress towards Audit requirements by establishing a single source of truth for assets and asset-related data, including appropriate views into that data and cross-functional collaboration.
  • Improve the Employee Experience: Optimize Enterprise Service Management to deliver a delightful experience for consumers of services (meaning the entire employee base) as well as the service providers (IT and HR only).
  • Revamp the Member Experience: Use the improved employee experience to bring benefits to members, as employees will be better equipped to serve their needs.  The project should also build a foundation for future expansion into CSM.


The Right Culture Fit Forges a Lasting Partnership

The Credit Union found the right partner in Acorio, the largest partner in the Service Management ecosystem 100% exclusively focused on ServiceNow. Acorio’s mix of expert consultants, established practices across the platform, unparalleled experience creating tailored roadmaps, and equally employee-centric culture was the perfect fit for the storied organization.

The Acorio team began with an Advisory project that first identified the institution’s desired outcomes, then crafted a tailored Roadmap by working backward from those goals. Throughout the project timeline, the Acorio project team prioritized:

  • Enabling self-sustaining capabilities for the Credit Union through Knowledge Transfer, Training and Guidance
  • Utilizing the voices of members and employees to empathically design service capabilities
  • Establishing a long-term foundation for ServiceNow expansion across the organization


Phase 1: A Streamlined ITSM Instance in ServiceNow

Empowered with an exhaustive roadmap that would streamline IT services and revamp the employee experience, the Credit Union and Acorio first rolled out ServiceNow with a strong focus on Audit readiness, Asset Management, Discovery, and a baseline ITSM instance in a 13-week phased approach – keeping in mind that the platform would continue to expand across the organization once this solid foundation was in place.

The final solution:

  • Provided a single, harmonized instance for Enterprise IT
  • Covered organizational change management & governance
  • Included Knowledge transfer & persona-based enablement
  • Established a foundation for future expansion across the ServiceNow platform


Moving through a Holistic ServiceNow Roadmap (with the Right Partner)

With its new baseline in ServiceNow, the Credit Union now has a single system of truth that allows them to confidently pass audits with less time and effort. While successfully reducing risk and driving connectivity across ITSM processes, they have also granted employees and leadership more visibility and reduced entropy making their employees more effective and empowered than ever before.

But they’re not stopping there – the organization recognizes that meaningful digital transformation is not a one-and-done process. With Acorio at their side, they’re hard at work journeying through the rest of their strategic roadmap with ITBM, GRC, SecOps, and HRSD next on the docket.

By defining an effective, strategic vision for the platform upfront, the Credit Union was able to start small with an actionable goal in mind. They didn’t focus on polishing up their current operating model – they reimagined what was possible and drove real transformation.