Financial Software & International Banking

Financial Software & International Banking

Two diverse cultures join forces using positive management strategies to create seamless and successful integration.

Behavior-based strategies enable executives of a U.S. powerhouse banking firm and an international financial software organization to create leadership strategies during a merger/acquisition. The strategic plan successfully joins two diverse cultures through a mutual and positive management approach.

Situation:

Anticipating a merger/acquisition between two very different organizations, the leaders of an international financial software organization and a sophisticated banking establishment met at ADI’s Executive Leadership Forum to hammer out strategies for a smooth transition. The software company specialized in the development of international banking software and managed electronic transactions for financial and related industries worldwide. The company’s global nature was reflected by the more than 20 languages spoken by employees at its headquarters in Toronto, Canada. The specialties of the banking firm, consisting of the details of statements, interest calculations and fulfilling government reporting requirements, complemented the strengths of the acquiring software firm. However, the banking firm’s environment was that of a staid U.S. based, English-speaking institution. Executives realized the merits of the merger, but how would they achieve synchronicity between such contrasting cultures and corporate focuses?

Solution Implemented:

Executives of the two organizations were determined to make the conversion a smooth and positive process for employees. After all, they knew the possibilities of negative repercussions on business if the two cultures clashed. Therefore, they attended a behavior-based solutions executive conference even before the completion of the acquisition. At the conference, they learned how to develop action plans based on a shared management process that emphasizes explicit behaviors, results, measurement, feedback and contingent reward. Armed with a common management and problem-solving model, the executives led their employees through a time of rapid reorganization, returning whenever necessary to the business drivers established at the forum as a guide for remaining focused on the why and how of change.

Results of Intervention:

• Revenues tripled as a result of the merger.
• The organization remained on target toward reaching its goals as a billion-dollar firm within four years.
• Due to behavior-based methods of specific actions/results, employees understood and fulfilled roles and responsibilities, avoiding the excessive stress, anxiety and chaos precipitated by many mergers.
• The entire management team regularly convenes to apply and resolve any issues using the model created at the leadership forum

“If you bring proven processes into organizations that have total
management commitment, then you really can get the results you’re looking for.”

— CEO of U.S. operations