A large financial institution with thousands of locations nationwide lacked visibility into its existing IT and telecom equipment due to acquisitions. SOURCE created a customized inventory management system to track the institution's assets across locations. This enabled the identification of reusable equipment, reducing purchases of duplicate items. SOURCE also refurbished equipment and centrally stored inventory, allowing for lower-cost shipping and reuse of assets. The solution saved the institution $1.5 million annually and allowed it to extend the life of existing systems, avoiding an estimated $10 million in additional purchases.

1. Value Sheet
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Helping a financial institution save a fortune
One of the oldest and largest financial institutions in the United States and a Fortune 500 company;
our customer supports thousands of locations nationwide and has been involved in several mergers
and acquisitions. Many of the acquired entities had investments in a broad range of voice and data
platforms.
Challenge
The organization was purchasing equipment they already owned, as a result of not having a
centralized inventory system with visibility to their assets. They also wanted to transition to VOIP
technology and reuse existing equipment where possible. Not only did they need to identify what
technologies were being used they needed to ensure they could continue to support and integrate
many vintage and current systems into their corporate technology roadmap.
Solution
SOURCE works objectively for the customer with the customer’s desire to continue to reuse their
corporate owned assets if possible. We customized an inventory management program that allows
the customer know exactly what they have on hand. More importantly, the solution tracked critical
usage data that enabled them to identify which of their displaced items would likely be needed
in the future. This program gave the financial institution superb visibility to their assets, and the
data helped determine which items should be refurbished for future for redeployment. Items
the financial institution no longer needed were scrapped in alignment with EPA environmental
guidelines and corporate security requirements. SOURCE now stores the organization-owned
gear at its 24-hour warehouse facility centrally located in Dallas Texas. The facility also repairs and
refurbishes the hardware as needed. The equipment is shipped and redeployed at a much lower
cost than acquiring new gear. The financial institution now has one nationwide warehouse facility
to provide both inbound and outbound shipping services and can see on hand inventory levels real
time. This visibility gives the organization complete accountability at a fraction of the cost of setting
up and maintaining similar facilities. The financial institution also utilizes SOURCE for its outstanding
project management services to decommission existing systems as well as complete new turnkey
installations on a national basis (frequently using refurbished corporate-owned assets).
Result
SOURCE helped the financial institution cut their annual operating expenses by $1.5M. Plus the
organization estimated they would have spent another $10M or more buying additional gear had
they not had the ability to reuse their existing assets. The financial institution is also now able to
more effectively support its legacy platforms until they are ready to upgrade, thus extending the
life of these systems. Because of SOURCE’s advanced logistic services, the financial institution
can efficiently plan on what they need and save significant budget dollars as they consolidate and
migrate locations from digital to VOIP technology. As we say at SOURCE information is key to
planning and future success…”It’s always better to know than to guess!”
SOURCE reduces a major financial institution’s cost of IT & Telecom hardware procurement
Industry: Finance/Banking
Location: US Nationwide
Number of employees: 250,000+
Challenge: Lacked a centralized
inventory system. Wanted to reuse
existing equipment instead of purchasing
new
Solution: Created a customized
inventory management tool which gave
the customer detailed data on inventory
levels, repairs and redeployment of
existing technology.
Results: Saved the organization $1.5m in
annual operating expenses and continue
to extend the life of existing hardware.
Executive Summary