If You Thought the Transition To FIS Went Bad, You Ain't Seen Nothing Yet.

Read the GAO Report on Accenture's botched takeover of the Thrift Savings Plan (TSP). GAO-24-106319. Everything in it is a page right out of the transition to FIS. Except then, we had iron clad procedures in place & they were all working before the transfer. Now, everything is on the fly, process hadn't been updated for years, and 9 month transition is a MASS-IVe failure in the making.

**'But AFS (Accenture) Federal Services completely botched the migration of TSP’s services due to an array of technological and staffing shortfalls that have virtually brought the services offered by TSP to participants to a screeching halt.

Despite AFS’ promise to “improve the customer experience,” AFS Managing
Director Owen Davies admitted that AFS “made that process really cumbersome, it was very hard for a vast number of users,” and that “[w]e made it overly complex.”**

#Accountability #ChangeManagement #CustomerExperience #Failure #ProcessImprovement

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@p9 WTF ? Sev did want to get rid of Capital Management-thus the Coup D'État. :)) Didn't you get the memo ? in fact, we could have made $50-$60M on that deal & blackrock & wellington could have gotten nearly double the alpha we were getting. at least 75 bps more return in AUM on average. you clowwn

@OP this move is clearly a repudiation of FIS. The FIS debacle has flopped. we should sue them. now, we think accenture will clean up the 200 or so upon cases which fis has never fixed ? so we go from dollar general to Tiffany's pricing in a NY Minute & believe Ghandi wil miraculously wipe clean all the sins of FIS ? why don't we just move EVERYTHING over to Schwab, cut them a 15 bps fee, white label it all, move all the annuity plans over to open arch, and then call it a day ? we are now double paying accenture & fis and continue to have to deal w/their issues and get no benefit. how is that supposed to work. its crazy.

@ek Yeah, I'm sure Greed, Festog, and Severin wanted to get rid of Stephen Rich and Capital Management because he agreed with them. Try thinking before you type.

Let's face it: Rich, Bailey, & Morarity are holdovers from the previous administration. They were involved in all the key decisions to dismantle field offices, move to FIS, and now, and jump ship & bailout to As.senture. How in God's green earth do they keep getting rewarded for making bad decisions while the rest of us have to continously clean up their cr-p and have to live their their terrible decisions ?

seems like we are sc--wed or f-u-k-c-e-d.

history is going to repeat itself. We need another Bill Flynn to save us. Is Frances Hesselbeim still around to Lead the Leaders ? WWPDD. what would peter drucker do ?

@c2 what happened did they Accenture bring our cloud experts from the fis debacle aboard.

@OP the GAO report includes:

"....However, FRTIB did not
fully implement key acquisition management practices, such as those
related to system requirements and testing, acquisition milestones, and
workforce. Further, FRTIB officials intended to transfer all operational and
technical decision-making to AFS for the system, thereby increasing the
risk that its needs and federal requirements would not be adequately met.
Fully implementing key acquisition management practices would provide
FRTIB with increased assurance that the TSP recordkeeping system is
effectively managed and the plan’s participants and beneficiaries can
access and manage their retirement savings when needed...."

Thread regarding Mutual of America Life layoffs

If You Thought the Transition To FIS Went Bad, You Ain't Seen Nothing Yet.

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