Clarity of requirements ensured timely technology build and ultimately improved margins
The client, a leading investment bank, needing to rapidly build technology elements to address some key business issues that were impacting pricing and therefore profitability in their European business.
We needed to quickly understand the most cost effective and timely way to address these business issues. Firstly, we needed to develop a common approach and framework to allow the comparison of the solution options across the multiple issues in order for them to be prioritised. That involved developing standard Business Requirements Documentation (BRD) and then rapidly completing these BRDs for 6 key business issues. The BRDs covered scope, process analysis and user requirements, as well as project plans and costings for rapid solution delivery. These were then prioritised against a set of criteria which included cost of solution, speed of delivery and impact on business.
All of the BRDs were completed inside the timeframe and a technology partner was then engaged to execute the solution build and deployment to the agreed timescales.
This ultimately led to both improved margin recovery in the business as well as giving the business areas improved management information and the ability to configure their pricing models to capitalise on opportunities.