Client Problem

A financial services client needed expert project management assistance during a process of transformation following a major, high profile acquisition.

Immediately following a large acquisition in 2001, the financial services company embarked on a transformation process to streamline and upgrade its general ledger framework. In particular, the client needed advice and guidance on the comprehensive upgrade from PeopleSoft 7.5 to PeopleSoft 8.4. SMS was engaged to manage the entire process and to ensure timely, cost efficient project delivery.
 

SMS Approach

SMS assessed existing systems and highlighted key areas for a successful software upgrade.

SMS drew upon 20 years’ expertise in assessing and planning to:

• identify the company’s expectations and match an implementation program to suit
• audit current processes and identify proposed improvements in individual business units
• predict impact on both organisations resulting from the merge and upgrade of their current systems
• expertly assess, and gauge relevance of, what was essentially brand new technology in the southern hemisphere
   

Recommendation

SMS developed a plan for moving forward, based on its research to date and the achievement of key expectations.

SMS developed a comprehensive plan for implementation that focussed on: 

• achieving an outcome that met strict budgetary constraints
• managing external vendors and negotiation of favourable contract conditions going forward
   

Outcome

The financial services company was able to successfully implement a comprehensive upgrade of its Peoplesoft technology - on time and considerably under budget.

The plan put forward by SMS enabled the company to meet every one of its initial project requirements. The new system was able to effect a much improved process of financial management and, because of the successful consolidation of the two previously separate systems, reporting and operational processes became simpler and more cost effective. Overall, the project managed by SMS was successfully delivered within the stipulated time frame, $1m+ under budget.