Financial Reporting & Automation
$1 million annual cost savings
Global Financial Services & Investment Banking
The financial management group at a global investment bank had a highly manual & inconsistent financial reporting process stitched together by 1000s of spreadsheets & macros. They lacked a single source of truth for financial data and a repeatable workflow with sufficient automation leading to duplicated effort, poor data integrity and insufficient audit trails. This led to a people-intensive effort, inhibiting the agility & cost with which the business could enter new markets or meet audit requirements.
We delivered a data warehouse solution with a single source of truth for all trading financial data. A standardized, automated set of business processes maintained strong data integrity & traceability between the risk systems & general ledger. Business Intelligence tools enabled easy reporting & slice-and-dice analysis of data greatly improving productivity for the finance teams.
The new platform with standardized & automated processes for PnL reporting, regulatory reporting, reconciliations & balance sheet substantiation across all lines of business made it possible to move into new markets without increasing headcount ultimately leading to $1 million in annual savings.
88% increase in throughput
Investment Banking & Trading
A major Wall Street Investment Bank had invested over $100M in an expensive, closed-source vendor package for trading & risk management. While the analytics produced by the product were good, it was not scaling to meet the demands of the business for bulk trade operations & real-time risk simulation. The closed nature of the platform also led to slow turnaround times for new requirements. This led to high level of manual effort from the middle-office & IT to perform basic business processes.
We conceptualized the NextGen architecture strategy with a compelling vision for the evolution of the platform based on open standards, optimized for fast delivery of value to end users. The solution, based on a service-oriented architecture, unlocked the capabilities of the vendor product while maintaining data integrity and greatly increased collaboration between IT teams & the business. The new platformm enabled a level of straight-through processing (STP), throughput & productivity that was not previously possible.
The NextGen platform gave users and 88% improvement in throughput, improving productivity, automation and ability to perform bulk operations without IT intervention. It enabled the business to rapidly try out different strategies including the largest trade migration (novation) of it's kind of Wall Street during the credit crisis.
IT Service Mangemement & Governance
Operational excellence for improved user satisfaction
Opaque & disjointed IT processes and lack of visibility from IT were aggravating end users. The department lacked standard processes for managing incidents, user requests, communication and onboarding new users. There was no governance framework for ensuring IT priorities & business goals were aligned. Lack of KPIs made it difficult to quantify performance or identify areas for improvement.
We helped define a governance framework, established standardized process based on IT best practices for managing incidents, requests, user access and onboarding. Automated workflows ensured process consistency across the global team. We established KPIs aligned with business goals to measure performance and continuously improve.
New processes & tools were successfully rolled out to revamp operational excellence and improve user satsifaction at the company
Accelerate the digital supply chain
Used car ecommerce retail
An ECommerce company with ambitions to be the Amazon of used car retail were having issues with the the speed & quality of delivery from IT. The lack of adequate monitoring & notifications also impacted the uptime of their website, not good for a company trying to compete with Amazon.
We helped the IT team establish a clear vision for DevOps to accelerate the delivery & quality of IT solutions to the business. Our approach enabled a thorough analysis of focus areas to achieve goals using a data-driven competency model helping the stakeholders prioritze based on risk & cost.
The resulting combination of IT culture, technology & processes helped the company optimize their optimize their digital supply chain, accelerating the delivery of value from IT to the business.