FOR IMMEDIATE RELEASE
Synaptix Systems Implements Project Management Solution for $13B Diversified Financial Services Customer
ALISO VIEJO, California – January 8, 2006 – Synaptix Systems Inc., a leading strategy and solutions firm that helps clients improve business performance, today announced with a $13B diversified financial services client, the successful delivery of a project management solution to improve operating efficiency in its Finance, Administration & Information Technology functions.
After completing more than a dozen merger & acquisition (M&A) transactions over the last five years, the financial services company was faced with a host of complex challenges in terms of managing incentive compensation plans for its 35,000 employees. With over 75 plan schemes spanning diverse business types and employee roles, Synaptix Systems’ customer had made a decision to centralize the administration of incentive compensation in one department — having its own self-contained analysis, support, payment processing, quality assurance, information technology (IT) and customer service functions.
This structure mandated that complex, detailed business rules & processes be executed accurately and seamlessly by the department’s various teams. The department also had to manage the ongoing introduction of new compensation plans as business conditions changed. Each of these factors was contributing to ‘less than optimal’ error rates, administrative overhead and employee morale in the organization.
Synaptix Systems worked with the client’s leadership team to develop and deploy a project management capability within the department. By implementing a standards-based project management framework (with associated processes, artifacts/documents and rules) and by supplying top-notch project manager resources, Synaptix helped the team to deliver both improved IT systems performance and accurate compensation payments at lower administrative cost.
“We are excited to have helped our client develop project management expertise and associated infrastructure that will enable team members to be more effective and will deliver significant ongoing cost savings”, states Synaptix Systems President & CEO Heath Hawker.
The Synaptix project management solution has aided the financial services client in lowering payment error rates by 15+%, in decreasing pay-file production costs by 10%, and in decreasing employee turnover in the department by 22%.
Synaptix Systems provides strategic consultative value and information technology governance solutions that drive significant return on investment through process improvement and program/project management office implementation & optimization. The company’s approach to planning and delivering project value has yielded a sound track record of client satisfaction. Recognized for a common sense client advocacy approach and rigorous delivery methods, Synaptix has developed long-term relationships founded on continuous value creation.
About Synaptix Systems Inc.
Synaptix Systems Inc. has its corporate headquarters at 30211 Avenida de las Banderas, 2nd Floor, Rancho Santa Margarita, CA 92688. Synaptix Systems can be reached at 949-888-6640, or by email at email@example.com.
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