Outsourcing deal and operating transition

We assisted a client to outsource core admin and support services, completed the transition within 9 months, and in the process created a reference client for the services provider

The challenge

PEN was engaged to manage both sides of an outsourcing deal in the At Retirement space

The outsourcing client, a leading provider of specialist At Retirement products, was looking to offload core administrative and support services, allowing them to focus on new product design and marketing

The outsource services provider, already a significant provider of third party services in the payments space, wanted to extend its proposition to provision of wider administration services to the life and pensions industry. This deal provided the opportunity for market entry whilst also creating the infrastructure to support growth

We were asked to provide support in three areas:

  • Engagement and executive support to Boards of both organisations
  • Programme Management of the transition
  • Contractual negotiation and broking

Our approach

We utilised our deep experience in the broking and set-up of operational outsourcing arrangements to

Design, mobilise and manage a detailed programme of work covering five core workstreams:

  • Contractual negotiation
  • Operational transition
  • Systems, Data & Infrastructure
  • People & Payroll
  • Shared Services

Bring in a range of different experts to the programme as the requirements of the different stages evolved

Work closely across the Boards and senior Executives of both organisations to ensure clarity of message and delivery of joint, mutual benefits

Provide challenge and drive to ensure pragmatic delivery-focussed programme decisions were being made

Quality assure all aspects of programme delivery

The outcome

As a result of our engagement, the full outsourcing set-up and transition was completed in a period of 9 months from the point at which both organisations formalised their engagement

This included the TUPE transfer of some 100 resources to a new, refurbished office location; design, purchase, configuration and testing of a new cloud-based infrastructure for the provision of all IT services; a smooth, orderly transfer of all new business and administrative processes; provision of shared services to another part of the client’s business

The outsource services provider has now built a reference client and is actively seeking expansion further into this market utilising the infrastructure built for this deal

The outsourcing client, whilst overseeing the key aspects of this engagement, is in the process of designing and launching their next waves of specialist products to this active sector of the market