An effective platform for project reporting to the bank’s CIO Office, creating trust in information, increasing people’s added-value and reducing unproductive tasks by 75%.
The IT department of this European bancassurer’s Belgian entity manages projects on a yearly basis with a €90M annual budget and with 60 project managers and 600 resources. Project information was spread out over several systems: the 60 project managers spent around 5 days gathering and interpreting data for their monthly report, while consolidated information was only available 4 weeks after the end of the month.
The CIO Office wanted a single tool to track project actuals/forecast and budget, and which would provide the consolidated information much faster.
We implemented a dataFactory in 4 phases. First, we connected the different data sources (BRM, ETR, Clarity, etc.) to the platform, while fully understanding the pains and expected benefits. Second, we helped define the roles and responsibilities among user groups. We introduced Qlikview as a business intelligence solution. Third, we helped define common project concepts and processes. And finally, we helped improve data quality and improved the CIO Office’s Qlikview competences.
With the dFatko platform, the bank achieved a number of soft benefits: a reduction/suppression of useless discussions about data validity, a sharp increase in data quality, and a concept alignment among all stakeholders.
A number of hard benefits were achieved too: all reports are refreshed in 1 hour instead of over several days; the number of project meetings was cut in 3, and their duration in 2; a 75% reduction in the time spent doing administrative tasks and a 38% reduction in the FTEs needed to manage projects.
As the Head of Portfolio Management for the CIO Office said, “With dFakto’s reporting platform, the organisation is now aligned on one version of the truth, and is finally comfortable with the figures people deal with. Reporting is now refreshed in one hour. Today, we have fewer meetings to discuss projects, and they are much more efficient. We have switched from low value-added activities (data crunching) to higher value-added ones (analysis), saving 75% of time spent on administrative tasks, resulting in an FTE reduction of 38% in the CIO office. Overall, we have developed the capabilities of the organisation with regard to portfolio management” “