Technology Assessment

Problem Statement

• Fast growing Canadian wealth management firm is constrained by legacy technology.

• Client reporting is cumbersome, does not provide meaningful insights such as performance attribution, takes too long to produce, and is heavily reliant on Excel.

• Processes that should be automated are manual which is both inefficient and error prone.

• No single source of truth for data.

Mandate

• Assess “as is” technology shortcomings, root causes and potential corrective measures. Thereafter, develop “to be” technology stack to support business requirements and technology implementation plan.

Approach

• Eight-to-ten-week process to conduct in-depth staff interviews to validate business requirements and identify technology gaps.

• Targeted market scan of suitable software vendors based on business requirements.

• Develop “as is” and “to be” technology architecture diagrams to show what can stay and what should change.

• Develop prescriptive set of tasks to implement  the “to be” architecture diagram.

Deliverables

• Business Requirements
  Detailed list of prioritized business requirements.

• Technology Gap Analysis
  Identification of current technology shortcomings, root causes and options to rectify.

• Technology Landscape Assessment
  Market scan of vendor technologies, assessment of fit, and to the extent known, their product development roadmaps.

• Reference Architecture
  “as is” and “to be” schematics of technology stack by application.

• Implementation Playbook
  Prescriptive set of tasks needed to implement the “to be” state.

Benefits

• Documentation of business requirements, capabilities, and technology gaps improves understanding of operations, and where the opportunities for improvement are.