A proven history of driving results for clients

Case Study Overview

By customizing functional requirements, metrics, and frameworks to the client's needs, the team efficiently assessed viable alternatives, resulting in reduced risk, improved efficiency, cost savings, and a competitive edge through platform modernization.

Client Situation

  • In a first phase, the client requested our assistance in determining whether replacing or enhancing their existing processing systems (BETA) was likely to address a list of deficiencies identified internally.

  • Our initial study was of short duration and anonymous in nature.  As such, the depth to which we could investigate alternatives and the level of negotiating leverage with vendors were both limited.

  • We highlighted several attractive ASP solution alternatives and raised the possibility of inclusion of outsourcing options in the next level of vendor due diligence.

  • The client asked us to launch a deeper analysis regarding the enhancement of its core brokerage processing activity through either a vendor solution implementation or an outsourcing option.

    • The main drivers behind this decision can be summarized as follows:

    • Risk mitigation

    • Efficiency improvements

    • Cost reduction

    • Remain competitive

    • Platform modernization

Approach

Because we had done so many of these evaluations, we were able to leverage our proven methodology for this process (refined and optimized over many past evaluations) and also expedite the entire process with our comprehensive toolkit, which included:

    • A core set of functional requirements that we were able to quickly customize for this client;

    • A standard set of metrics that we were able to quickly customize for this client;

    • A standard RFP template that we were able to quickly customize for this client and the target vendors/outsourced providers;

    • A vendor scoring model that we refined quickly for this client & target solutions;

    • A framework for vendor solutions testing & demonstrations that we customized for this client and the target vendors/outsourced providers;

    • An interview guide for vendor reference checks; and

    • A framework for business case that we leveraged for developing the formal business case of the chosen solution..

See an overview of our Approach and Deliverables that leverages our proven methodology with our comprehensive toolkit on the next slide.

Benefits

Leveraging our proven methodology and our comprehensive toolkit, expertly executed by our skilled resource team, we were able to expeditiously evaluate and identify several viable solution alternatives (especially an enhanced version of Beta versus Fintech Solution A), select the optimal solution with our client, develop the formal business case, plan out the conversion and implement the new solution.

  • Reduced risk

  • Improved efficiency

  • Reduced cost

  • Remained competitive

  • Modernized platform