MIGRATION OF THE OST CHAIN TO THE BANCS SOFTWARE PACKAGE AT SOCIÉTÉ GÉNÉRALE
Background & challenges
In 2017, Société Générale (SG) wanted to transform the management of its OST chain from various internal tools to a solution based on the Bancs software package from Tata Consulting (TCS). For SG, this project had various objectives:
- Industrialization of customer notifications using a single format based on best market practices
- Reducing operational risks
- Increase in NBI (Net Banking Income) with the integration of this product for new customers
- Reduce run costs
From TCS's point of view, the interest was both in integrating a new customer and also in upgrading its Bancs tool to be able to manage Bloomberg feeds (CANS) for the first time, so as to be able to offer this functionality to other customers in the future.
The project was complex from a functional point of view, essentially due to all the specificities of each country (and even custodian) in terms of how to manage OSTs, but also from an organizational point of view, with IT, repository, business, publisher and offshore teams, all in 3 time zones (Europe, America, Asia), and finally from a planning point of view, as the integration of new customers depended on the success of this project.
Against this backdrop, SG approached Quanteam to take over the project from the current project manager. The role of the PD would be to :
- Managing the project
- Facilitate coordination between teams
- Update planning and budgets
- Secure deliveries
- Follow-up through various meetings ( OpCo, Sponsor Co, Steerco ...)
Solution provided
Following our experience on similar business chain transformation projects, we worked on the following stages:
- Schedule upgrade
Resuming the project meant prioritizing and re-arbitrating requirements in order to re-establish a tenable schedule that could be shared with all stakeholders.
- Organizational changes
Setting up a RACI was the first step in reorganizing the various stakeholders and ensuring that all were working towards the same goal.
- Focus on value delivery
Following a proposal to the sponsor, it was decided to deliver on a very frequent iterative basis (weekly minimum) in order to deliver maximum value to users and customers.
- Steering by a dedicated committee
A bi-weekly OPCO was set up for each geographical region. For CO sponsors, the periodicity was weekly at the height of the difficulties and then reduced to bi-weekly. Steerco sponsors were monthly.
Weekly meetings were held with the publisher.
Last but not least, we had daily contact with the dev team and BAs.
- Test automation
As deliveries progressed, it was crucial to set up automated tests to secure new versions. This project was split between the publisher and the internal EAI teams.
- Training
Before each activation or delivery of a new feature, training sessions with or without the editor have been set up to ensure that users are comfortable.
Customer benefits:
After a reassessment of the project schedule and milestones, the priority was to deliver value to the customer through regular deliveries. An "ultra-agile" operating mode was quickly put in place. By way of example, the average number of releases over the two years of the assignment was 1.5 per week, with an editor delivery every 3 weeks for the Bancs software package.
After several months of intense discussions, the organization has been fine-tuned to ensure that all players are working towards the same goal.
After two years, 80% of the scope of the first part had been delivered and the new customer could be onboarded. The remaining 20% would be completed in the next 4 months and the opening to other customers could begin.
Thanks to our support, the customer was able to deliver his project, integrate his new customer and start securing his notifications to his existing customers.
Over the coming years, we expect to see an increase in NBI and a reduction in risk in this business. Run gains should be postponed by at least a year, due to the end of the project and the migration of other customers.
Quanteam expertise makes the difference
- Strong project management experience
- Proven experience in migration projects
- Experience on complex projects with multiple stakeholders and editors
- A tried and tested comitology
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