Kanbay Announces Strategic Partnering Model at Gartner Financial Services Technology Summit 2005
Kanbay's Governance Model Helps Financial Services Firms Gain Strategic Value from Global Sourcing
NEW YORK, Aug. 30 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (Nasdaq: KBAY), a global IT services firm focused on providing solutions to the financial services industry, announced its Spectrum6(TM) strategic partnering model today at the Gartner Financial Services Technology Summit in New York.(http://www.gartner.com/us/fstechsummit).
Spectrum6 is a structured model used as the governing foundation for managing globally sourced engagements. Spectrum6 consists of a six point framework that instills a discipline for accountability by allowing CEOs and CIOs to monitor metrics and foster desired behaviors between the service provider and the client, evolving a tactical sourcing relationship to a strategic sourcing partnership. The six components of the framework are:
- Relationship Management to ensure peer-to-peer collaboration to evolve from a tactical to a strategic partnership,
- Service Level Management to define, configure and assess service level agreements and ensure an escalation procedure to resolve problems,
- Communication Management to facilitate formal information sharing across levels of a client and service provider organization which includes scorecards, dashboards and performance reports,
- Change Management to ensure cultural alignment and a focus on business results,
- Risk Management to provide assessments and impact analysis that promote risk mitigation and sharing, and
- Contract Management to establish the rules of engagement, roles, responsibilities, and scope of work.
"Objectives and expectations from outsourcing are different at various levels in the organization," said Roy Stansbury, Executive Vice President- Global HSBC Services for Kanbay. "Therefore, it is absolutely necessary to establish expectations at all business and technical levels to ensure success."
Kanbay's model leverages the company's 15 years of experience in global delivery across multiple sites. "We believe this model goes beyond established governance practices by placing the emphasis on working business relationships. Spectrum6 is a proven framework that is currently used with over 50 Kanbay clients," said Roy Stansbury.
Kanbay's Spectrum6 strategic partnering model is the focus of a joint presentation given by Kanbay and HSBC at 11:15 a.m. on Tuesday, August 30th. The presentation will demonstrate how this framework has enabled them to evolve their sourcing relationship into a strategic partnership over the past 15 years.
About Kanbay
Founded in 1989, Kanbay International, Inc. (Nasdaq: KBAY) is a global IT services firm focused on the financial services industry. With over 4,700 associates, Kanbay provides its services primarily to banking institutions, credit service companies, insurance companies, and securities and investment firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India. Further information about Kanbay can be found at http://www.kanbay.com.
