Problem / Challenge
One of our European clients has been helping 40% of the world’s top 100 financial companies maximize performance through their investment management platform and ecosystem. In light of the fact that regulatory compliance regulations are becoming more stringent and customer preferences have been shifting, the company is strengthening its competitive advantage through the adoption of a sustained research and development strategy.
Part of that strategy was to establish a Philippine office in order to tap the rich software development talent in that country. Further, it was important to the company to do so quickly. Without local knowledge or facilities in the Philippines, they knew setting up their own entity would delay the launching of their Philippine operations. They, therefore, had to explore options on how they could swiftly execute their plans.
After several consultation meetings, the client and Eastvantage agreed on a Build-Operate-Transfer (BOT) partnership. The operations team of Eastvantage proceeded to work with the HR department of the client in order to determine and agree on the scope of work and timelines. Operational metrics that will systemize workforce management and measure productivity and efficiency were set. Reporting dashboards for performance monitoring were also established.
Immediately after processes were established and space requirements were met, existing Philippine team members were transitioned to Eastvantage, and recruitment for additional team members based on the client’s preferred profiles was set in motion. The team was onboarded as full-time employees of Eastvantage and housed in the Eastvantage HQ.
Aside from the office space, Eastvantage provides shared services including recruitment, HR, payroll, connectivity, and IT support. A dedicated Operations Business Partner serves as the liaison between the client and the employees. To date, the team is 97-strong and delivers software development and other technology support required by the client.
By leveraging Eastvantage local expertise and resources, the client was able to build its operations base in the Philippines swiftly and at less cost. Currently, Eastvantage is helping the client seamlessly grow their Philippine operations.
As per the Build-Operate-Transfer model, at an agreed time in the near future, Eastvantage will assist the client in setting up their own legal entity and physical facilities in the country and will ensure the smooth transition of the employees to the client’s duly registered organization.
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