I’m not sure if Accenture is really transforming or modernizing the application? Are they just doing BAU. Another question is TIAA planning to outsource their data division?
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TIAA has been in a "transformation" since I started there 20 years ago. Let's see...Omni conversion, 1/1/09, Pension Transformation, Build to Win, Record Keeping Transformation, Vision 2020, Wealth Transformation...the list goes on and on. It's all the same junk, just repackaged and still not accomplished. Too many consultants, to much money and too little actual skill on hand to complete any of it. But, gives the EC something to beat their chest about.
I don’t think this transformation is real. I feel Sastry wants to reduce number of employees, so he outsourced the employees to a consulting company. If transformation was goal they could have hired some mature architects and get it done.
Honestly... Accenture is in the "Find out" phase. They are seeing first hand how far behind TIAA is in the industry and are probably kicking themselves for taking this contract.
Lots of projects shifting delivery timelines likely to try to back out or break the contract due to not delivering or do the bare minimum.
If you don't see the writing on the wall by now I'm sure it will come to light sooner than later.
Yes all of it will be outsourced to another firm or to India. Get as much experience as you can, and a title increase even without pay and use that to jump somewhere far far away
I think that was the goal from the beginning, to “automate”. No?
@dz a5 received down votes because of the "items" in the list...everyone knows they haven't done anything and as mentioned below...not meeting milestones....they were supposed to "fix" pension RMD processing by 10/1/2025...they were very surprised to uncover the RA/GRA/etc was not as easy as IRA RMD processing..
@a5 Not sure why you are getting down voted as you asked some ligit questions about naming 5 specific things that Accenture has accomplished. From the other commentators, it doesn't seem like "A-s-s-centure" hasn't accomplished much. Another feather in the cap for Brown Phu-ckett.
The team that is working on all this automation—not leadership, the people that do actual work—will all tell you they haven’t hit any release deadlines and they won’t hit any future milestones on time because they can’t, don’t have enough resources, don’t have enough people, and don’t have the knowledge to do it. The writing on the wall is that if India can train and do it, it’ll be done in India. That’s what automation means to leadership. Next chance you get, ask your leader what they envision for what automation is going to do—what does it look like from beginning to end. You don’t need details, but you just want a blueprint map. None of your leaders are going to have an actual vision of what automation does because they don’t know how it works besides what is summarized and given to them by consultants and advisors. Do the test yourself. Ray, Kourtney, T…they’ve failed this test. Try it and prove to yourself and everyone listening that TIAA is about to be driven into the ground by the worst leadership team seen in 3 decades.
Seems like they just came in, did a ton of KT sessions, then did nothing with it.
Seems like they are taking all our processes and working out of view to incorporate AI to all our processes while we just continue to work. Nothing has changed in my unit, so seems to me they are here solely to take our processes and automate them long term.
Seemed shady right from the start.
From my perspective it feels like they're just a consultant but with the teeth of a middle manager. Not just recommending change but actually being the instrument of that change.
What specific and tangible changes has Accenture made to date ? Can anyone name 5 items ?
Below is what open AI says:
Accenture is helping TIAA modernize its retirement recordkeeping operations by improving efficiency through automation and enhanced processes. This includes building new digital capabilities for plan participants, enhancing education and advice tools, and providing AI-driven capabilities and upgraded digital tools for relationship managers and consultants. TIAA will retain full responsibility for retirement plans and data.
Key areas of Accenture's support for TIAA:
Recordkeeping efficiency: Accenture will support certain back-end recordkeeping operations to improve efficiency, starting in 2025.
Enhanced participant experience: Accenture will help develop new digital features for retirement plan enrollment, money management, and retirement education and advice.
Improved tools for staff: The partnership will provide TIAA's relationship managers and plan consultants with new digital capabilities and enhanced reporting features.
AI and data capabilities: Accenture will bring AI-driven tools and its technology, data, and AI expertise to help TIAA.