Key Challenges
PROVEN needed a strong strategic execution platform that made its strategy more transparent and accessible in terms of progress tracking and reporting. Prior to Cascade, strategic alignment was something only select groups of people were able to consistently track and relate back to every-day operations and vision. With locations and service lines spread across the Caribbean, it was a challenge to align the teams to a centralized strategy and process.
The strategy was also much less dynamic. Needed adjustments were identified later than required due to the process and technical limitations around it. Beyond this, they saved a significant amount of time creating and updating their strategy.
Before Cascade, the strategic alignment of business objectives was difficult to assess and monitor. Now that the strategic plan can be viewed at the subsidiary and group level, we can efficiently report on the initiatives, performance and accountable officers. This has greatly improved the accountability aspect of strategic management ”
Selvin Mothersill - Head of Strategy & Innovation
A Great Plan the Team Feels Confident In
Creating an aligned execution ready strategy across an organization is often a challenge, regardless of size or strategic maturity. With different locations and service lines, Cascade was able to bring everything together in one place.
Immediately upon getting all our strategic plans into the system, Cascade made it perfectly clear how our organization wide initiatives related to each other. All teams involved saw ample opportunity with the software to dive into the strategy with more meaning than before. This enabled high level monitoring against the group level medium term strategic road map while making it easy to identify and execute on needed strategy shifts in response to dynamic changes in the operating environment. There are still much more opportunities to optimize on the value of Cascade however we continue to make excellent strides.
Nerisha Farquharson - VP, Proprietary Funds and Financial Services
An Aligned, Focused & Efficient Team Contributing to the Strategy
With dynamic strategy tracking Cascade created a consistent way for everyone to review and work on their strategies. Now, people have a better understanding of how they fit into Proven’s overarching strategy.
When our strategy lived in PowerPoints, conversations regarding strategy stayed amongst a select few. Now that we have a cloud based solution and shared ownership of the strategic plan, conversations regarding strategy are much more inclusive and frequent!
Selvin Mothersill - Head of Strategy & Innovation
Insights on the Success of the Plan & what needs to Change/Evolve
PROVEN has had precise attention to detail on strategy for a long time, but reporting out on it could sometimes be a long and difficult process.
Rather than having to put together an elaborate presentation to share with our Board of Directors for each meeting, Cascade allows us to instantly run executive-level reports and views that replace the old and tedious preparation process almost entirely.
Nerisha Farquharson - VP, Proprietary Funds and Financial Services
