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Enterprise-wide Finance Backbone Cloud Migration

Find out how our Consultants helped a large investment firm embrace digital in their critical finance areas over 6 months

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A CASE STUDY

percent increase in throughput agility

percent increase in functional automation driving down costs significantly

Financial Services Company transforms itself to a Digital Savvy Business

Client is an investment firm with one of the largest AUM and AUA in the world

The Challenge

The investment management firm had software in all their essential services. Due to years of acquisitions and traditional business processes, there was multiple system duplication.

Their main challenges were:

  • Multiple applications doing similar business processes aiding the decision making
  • Yearlong experimentation of cloud migration after trying many different technologies
  • Business adoption / movement from the legacy systems to the cloud due to data issues

 Technology leadership was absolutely committed to rally the finance organization to go Digital along with the executive leadership commitment to see cost reduction, putting them in a much better position to consolidate their decision making processes.

Approach and Solution

Our Consultants facilitated the Cloud Migration using a structured approach:

  • Blueprint of cloud migration using combination of snowflake, Power BI and AWS along with the technologists within the organization
  • Creation of a Data governance forum for the business and technology changes at the inception, architecture and design
  • Creating an understanding of Work Intake process and transparency of work coming in from several business teams through a single prioritized channel
  • Enabling the Visualization team to partner with the ETL teams while data is migrated so that faster feedback from users are obtained
  • Focus on the automation of data loads while setting up automation engines and enabling unit testing in the data feeds level
  • Enabled an agile team for data gateway from 100+ feeds that were coming in so that they can be on-boarded and data quality is maintained

Working with business, design and technology organizations to focus on external challenges that need to be addressed with the provision of empowered teams

The Outcome

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Role Clarity of all the team members and leadership and expectation towards the cloud migration

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22% increase in throughput (raw velocity) in 1 years since the start of the program
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One of the dimensions’ went live with 21 levels of views that they were able to see in less than 3 months
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46% automation in place for the functional side and approaching to 90% on regression automation; efforts are underway to increase automation effectiveness and more involvement from finance teams towards deeper transformation of business processes
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Trusted relationship with business on the cloud migration effectiveness after several changes have gone live with superior quality every 2 weeks.

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PM Power Consulting helps organizations achieve agility in design and delivery of software and services.

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