Challenge
The client, although aware of inefficiencies within their middle office, did not understand the root causes or how they could be improved.
Due to this increasing workload, the chance to step back and perform analysis on the efficiency of the processes was always deprioritised in favour of more immediate deadlines and quick fix solutions.
The ability to step out of the processes and look in on them holistically gave psKINETIC a unique vantage point. As a result, we were able to inspire solutions to the challenges faced in ways that were not always expected within the middle office team.
Solution
To overcome these challenges, a 5-week rapid review was undertaken to get the answers needed. Workshops and interviews were held at pace in order for psKINETIC to understand and document 20 processes. Problem statements and improvement areas were identified across multiple processes and assessed with technical architects to reach solution concepts that could deliver tangible benefits.
Using psKINETIC’s proven scoring model for cost-benefit analysis, process improvements and solutions were pitted against one another to understand relative ‘bang for buck’ based on implementation complexity and solution applicability across multiple process areas.
This scoring model enabled psKINETIC to put forward analysis and recommendation’s that the client could review to ensure scores were accurate and realistic. This approach provided full visibility of the analysis and explainable recommendations that led to thought-provoking collaboration and reliable conclusions.
Outcome
Analysis and recommendations were completed after 5 weeks of productive and collaborative discussions about the potential solutions and paths forward.
A key problem area was data stored in multiple sources which was manually copied to drive processed. Recommendation was to extend the use of an existing technology solution based on Azure to orchestrate data flow and reporting. This also maximised the ROI on the existing software licensing.