Our client, an electric vehicle company that builds and sells luxury electric vehicles in the US and abroad, faced significant challenges in scaling their operations from a startup mentality to a structured growth phase. The transition demanded enhanced visibility, strategic decision-making and a unified source of truth for effective management and communication.
To address these challenges, HCLTech supported the firm by leveraging Strategic Portfolio Management (SPM) to align business objectives through an internal customer lens and facilitate a Lean-Agile engagement model for IT. Our approach prioritized value delivery over specific features and was designed to guide the client through this critical growth phase.
The Challenge
- Limited visibility into resource alignment to work across the high-demand portfolio
- Limited scalability in viewing data holistically and across portfolios
- Excessive effort and time in compiling reports
- Decisions based on untimely data forcing reactive responses
The Objective
- Break down barriers, standardize data and align processes for improved execution and decision-making
- Address fragmented systems, data inconsistencies and misaligned processes to enhance execution and strategic planning
- Improve data standardization, process alignment and tool integration for better execution and strategic decisions
- Overcome system fragmentation, data issues and process misalignment to boost execution and decision-making
The Solution
The approach to designing and deploying the proper Strategic Portfolio Management (SPM) solution began with the client's vision:
- Aligned long-term management of value streams, TCO and enterprise resource planning, focused on short-term management
- Used the 'floors' analogy to explain the deployment journey
- Deployed basic SPM solution for a single source of truth and data-driven decisions
- Established simple, flexible steps to explore modern work methods
- Resources were initially aligned with projects, and features were gradually adopted
- Aligned outcomes with tool capabilities, reduced friction, supported fast adoption and accounted for unique processes
The Impact
- Reduced noise, eliminated late data, and increased trust in data quality for proactive decision-making
- A single source of truth reduced churn, ambiguity, and preparation time for investment status discussions
- Improved visibility into resource alignment facilitated prioritization discussions and decisions
- Demonstrated benefits are sparking interest in adopting the solution across additional groups
