Avanza is a tech company with bank licence (you can call them a bank) here in Stockholm. A few years back they started their journey from a traditional silos based organization to a cross functional product organization organized around the customer journey - IT, Product, Marketing and Operations working as one. Here we want to share their story with you that we also had the pleasure to be a small part of.
“Avanza's development organization has grown from 7 to 16 teams during the last 4 years. Great fun, of course, but it also required some prerequisites.
In the fall of 2016, our lead times increased significantly, we had many cross-dependencies between the teams; and, we began to see early signs that our team's motivation was suffering. We were not sure why this was because we had been working in an agile way for over 10 years. We needed to take the next step.
During the past year we have learned a great deal. Based on that, we have created a new team structure that follows our customer's journey and value streams. This new structure includes 16 autonomous teams with end-to-end responsibilities, with clear missions; and, that are linked to our vision. The teams also have responsibility for all channels and have the skills required to deliver on their missions.”
The Avanza product organization is about 200 people (IT/Product/Marketing/Operations)
- Decreased Time to Market, from 5,9 teams involved in a delivery to 1,2 in average
- Increased Strategic Flexibility, Team Missions connected to Customer Journey and
- Feature Teams enable strategic and tactical adjustments along the way
- Happy & Empowered Employees - Teams feeling like a startup. Owns the budget, learning about customer needs, delivering on all touch points and optimizing towards the business strategy.
- Happier Stakeholders - Involved with the teams work & understand the structure of the org
Want to find out how you can do the same? Reach out to Dandy People.