Transaction Banking

Data & Cost optimisation

Transaction Banking – Data and Cost optimisation
09/08/2018 MHC
Applications used for reporting
Clients prices reviewed
Additional projects added

CLIENT PROBLEM

A tier 1 global bank required a deep investigation into all active programmes at a portfolio level to make strategic decisions. The ultimate goal was to achieve a reduction in the number of vendors providing services and internalise key delivery functions and intellectual property (120 disparate applications were currently used in the reporting process).

The client was unable to acquire reliable metrics and key performance indicators due to inadequate governance systems in place and poor data quality. Additionally, projects were not recorded in their Clarity system appropriately and therefore reporting was inconsistent across programmes.

MHC APPROACH

MHC provided highly capable PMO team. A Senior Project Manager and Project Management Analyst were engaged at the client’s site to conduct a deep investigation into all programmes in the portfolio and implemented the adequate governance tools. Our team of consultants implemented processes and tools in the following areas:

01. Demand management

Assessed if project’s budgets were being appraised and reported correctly.

02. Data analysis

Ensured headcount commitments were being honoured and staffing levels were consistent with forecasts.

03. Milestone tracking

Provided standardised and accurate milestone reporting. Implemented a RAG governance structure with risks, issues, and mitigations reporting.

04. Data quality

Ensured accurate and complete project data was used.

05. Financial management

Investigated the cause of any overspend and possible mitigations, ensuring any underspend was released back to the business in a timely fashion.

06. Reporting

Reconciled top-down reports with bottom-up reports by creating live feed reporting at a more granular level instead of manual static reporting. This was estimated to have reduced reporting time by 50%.

Result

Reporting and governance processes were substantially improved. The executive team is now able to measure programmes progress accurately. Consequently is able to assess the status of their on-going strategies and possesses richer information for decisions taking.

Due to the success of this project the client asked our team of consultants to roll this project out across an additional 145 additional projects.