Our client, the capital markets group of a major North American bank, was undertaking a major, top-to-bottom operational re-engineering process. The bank was having trouble with analysis and regulatory compliance, and it understood that the problem stemmed from a flawed, ineffective reporting system.
Our client was unable to track the performance of businesses in a clear, detailed manner, and believed that the only solution was to develop an entirely new information system at considerable cost.
The most efficient path
Fleming Q.E.D. found the most efficient path by analyzing the business value of the reporting system and working with our client to articulate how they could best use it.
Instead of recommending a complete overhaul of all of the company’s reporting systems, as was articulated in every other consultants’ new IT plans, we modeled the marginal value against the cost of improvement of various areas of data that represented the company’s biggest problem areas.
This gave us a crystal clear view of how to make the largest difference in reporting for the most reasonable cost. As a result, we were able to create a powerful strategy for effecting change throughout the company without reinventing the wheel.
The most enduring value
We created enduring business value not only by identifying low cost/high impact fixes, but also by discovering additional data that was extremely valuable for our client’s decision-making system.
The data was unstructured, but with machine learning tools could be leveraged by pricing models and algorithms for billions of dollars of trades. Our client estimated the value of these improvements to be tens of millions of dollars a year.
We not only helped our client obtain more powerful insights into their business operations, but also discovered value where none had previously been seen. Once we highlighted the value of the data, our client allocated resources to cleaning, structuring and leveraging it for business decisions.
They achieved early wins, quickly, and dug out significant long-term revenue increases.