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 own story in the video they recorded at their Avanza Tech Meetup – and as a Case Study.
The slides that we have put together echoes the video and it covers:
- The Background of the Avanza transformation
- The wonderful results!
- Customer Focus and an Agile Mindset
- What are the tells?
- Why is it like this?
- What can we do to fix this?
- Begin with Leadership and Vision
- Align with the Customer Journey
- Create Teamswith a Mission
- The Teams with a Mission are responsible for delivering on the strategy
- First Step: Self Selection of 4 Teams
- Second Step: Self Selection of 9 Teams
- New Leadership Structure and Organizational Flows
- Some tips from Avanza…
The video presentation from Avanza Tech Meetup
Avanza shared the following video (in Swedish) from their Avanza Tech Meetup – Så förändrade vi vår teamstruktur (Avanza Tech Meetup – this is how we transformed our team structure):
They shared that:
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.
Here you can read more about the type of Customer Product Organization that Avanza has and download the infographic poster on the topic >
Want to find out how you can do the same? Reach out to us here >