SUCCESS STORIES

Solution for Failed Technology Program

"This program is totally off the track"

- SVP Trade Services

SUCCESS STORIES

Years earlier, the Client recognized the need to upgrade its back office technology solution to reap greater workflow efficiencies. The decision was made to develop and use a leading edge technology model. Subsequent mergers and restructuring, delayed installation and implementation of the new system resulted in an off-schedule and over-budget project, and the use of multiple, non-interfaced trade services systems. In addition, the business model to be supported by the new technology had changed, requiring a reevaluation of the entire solution.

LOBUE RECOMMENDATIONS

  • A Business Model Vision Workshop was conducted to facilitate Trade Services Management in the development of a singular, division-wide business strategy and action plan.
  • An Environmental Assessment was undertaken to establish the range of technology options available to realistically support the requirements of the New Business Model. The assessment included review of: the Bank's three existing, yet unrelated, systems; the upgrade of an existing system; the new system still in development and testing; an off-the-shelf alternative system; and a de novo system used by the Asian branches.
  • A Gap Analysis was performed comparing the product functionality, long-term flexibility, implementation risks, and anticipated costs of continuing development of the New System vs. purchasing an off-the-shelf alternative solution.
  • Facilitated a meeting between Trade Services Management and the new system vendor to resolve resource and responsibility issues for a ramped-up, re-focused implementation plan.

REAL RESULTS

Within the Client's specified timeframe (3 weeks), LoBue evaluated the situation, facilitated the above activities, and recommended continuing with the new system under a revised Implementation and Roll-out Plan. Technical resource savings of $3.2 million over 18 months, and increased revenues of $28 million over 3 years were expected under the new Business model and supporting technology solution.

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