Finance System Transformation

Programme Profile:

Finance System Transformation (Recovery)

Intro:

Svoon has experience of implementing a number of Finance systems integrated to the
primary underlying systems and believe that data structure, migration and conversion a
large part of any finance program. We also support the concept that any transformation
project should now include some level of automation. The program we highlight below
is a recent recovery program as it illustrates our ability to take direct control and
ownership of major investments and business commitments.

Need/Problem:

A leading, global law firm had committed to migrate from a no longer supported finance
system to Elite 3E. They had committed to take this opportunity to review and transform
underlying processes, roles, workflows and client/partner touchpoints. However, after a
number of years and major investments the program was failing to meet its intended
deadline and budgets. In fact there was a hard deadline only twelve months from the
point that Svoon became involved. The key objectives were to migrate to the new
system, including all historic data structures, balance all accounts and ensure the
company could continue billing throughout the transitional period. There were a
number of incumbent suppliers that we identified as part of the historic delays and so
we needed to negotiate them out of the contractual obligations. There were 23 separate
countries who needed to be aligned with the new approach and this required Svoon to
change the programme structure and its approach, which was politically sensitive. In
Summary after 3 years of slow progress the program was only 40% complete with
twelve months to go after which the key business services would fail. Our task was to
ensure not just the success of the new system but to ensure continuity of business
services.

Our Approach:

- A redefinition of the critical delivery points.
- A re-engagement and partnership with the business in each country.
- A restructuring and reduction of the project team and its suppliers.
- A change in the approach and sequencing of the programmes main milestones to
enable weekly tracking and better collaboration among stakeholders.
- Streamlined yet robust governance and decision-making.
- A move to sprint-based working for both the project and adoption teams.

Impact of Delivery:

By utilising full dress rehearsals (Each a two week period), we ensured that we were able
to not only convert the data but also achieve accounting balancing that had not been
achieved historically. During the transitional period all countries followed interim
operating procedures to ensure no urgent work or billing was affected. The system went
live before the critical deadline and high value cost savings were made by the
programme changes in approach, leadership and resources. Each country and centrally
were able to bill at the end of the first month live albeit with some issues and
efficiencies that would be applied in the first few months.
As an example of the type of impact Svoon has on recovery projects in this case we were
able to safe over €2 million in cost savings and avoided an additional €3 million in
committed spend whilst mitigating business, client and regulatory risks whilst ensuring
the real deadline was met.