Services
SERVICES
SOLUTIONS
TECHNOLOGIES
Industries
Insights
TRENDING TOPICS
INDUSTRY-RELATED TOPICS
OUR EXPERTS
Technology consulting for a trading firm
Looking to enhance operational alignment and effectiveness across company locations and distributed teams, the customer sought expert help to assess their current business processes and IT landscape and provide tailored improvement recommendations. Itransition carried out the required research of the company’s business context and IT operations landscape and suggested ways to streamline and standardize their processes.
10+ departments’
business processes researched
80+
software solutions evaluated
15+
project artifacts delivered
All technologies used
Engagement model
About the customer
Our customer is a Forex trading company offering advanced platforms to both experienced and new market traders. The company operates across multiple regions and has globally distributed teams.
Industry
Banking & Finance
Location
5 offices in EMEA and APAC
Time on the market
20+ years
Company type
Private
The challenge
Having geographically dispersed teams that relied on inconsistent processes and varying tools, the customer faced operational and collaboration inefficiencies as well as high operational costs. Moreover, with the recent adoption of a Salesforce-based toolset, the customer struggled to effectively leverage this new platform.
To mitigate these problems, the customer required:
- Thorough analysis of their operations and systems
- Tailored, actionable insights and recommendations for enhancing the alignment, efficiency, and effectiveness of business processes and work practices across company locations
- Expert guidance on Salesforce user adoption
Additionally, the customer sought consultants’ onsite presence in their offices across different countries to better capture the organizational context and needs.
The solution
At a glance
Itransition conducted nearly 50 meetings with the customer’s stakeholders to analyze business processes and software and identify operational challenges. Based on the analysis, we developed department-specific processes optimization recommendations and a roadmap for implementing them.
Strategy & roadmap
Itransition adopted a phased approach for the project to better focus on achieving specific goals and objectives and adjust the strategies we propose based on real-time feedback and results. To gather comprehensive process insights, we combined onsite consultations with online interviews with the customer’s teams.
Business process & needs analysis
The analysis phase involved a series of interviews with the following company representatives:
- Key stakeholders, including C-level executives and department heads, to understand their improvement expectations. Our business analysts examined the organizational structure, background, and context, including an overview of customers, vendors, products, and services, to better understand the company’s strategic objectives. A substantial part of these meetings was devoted to discussing key business processes, which were fundamental to the organization’s operations.
- The company’s IT team, to identify and understand the systems currently in use across various departments and determine the connections between them. As a result of these sessions, we created a comprehensive map of around 80 external and internal systems and described the key data flows between them.
- Business process owners, to uncover key business processes and artifacts in each department. We documented these processes using SIPOC diagrams, outlining the Supplier, Input, Process, Output, and Customer for each process, which allowed us to construct a high-level map of how the processes were interconnected and supported one another across the organization.
- Key personnel, such as department and team leaders, subject matter experts, and business process managers, to gather intricate details about the company’s specific business processes. Our team captured process logic, details, and specific systems or roles responsible for executing each step of a process, which was crucial for understanding the company’s day-to-day operation.
Throughout the collaboration, we asked interviewees to share their pain points and process improvement ideas, as well as highlight software features that positively impacted their workflows. As a result, we identified gaps in processes and systems, which we then graded based on their value and relevance to business needs.
Recommendations delivery
After the business research and interviewees’ feedback collection, we outlined the main pain points across the organization and documented recommendations and their potential benefits for each department of the customer’s company.
Numerous manual processes and high document handling workload with frequent use of paper files and Excel
Recommendation
Streamline key processes and routine tasks through automated workflows and rules and use OCR for document management
Benefits
Improved operational efficiency, reduced employee and administration effort, time savings, improved employee and customer satisfaction, and enhanced data accuracy
Lack of operations and communication standardization across departments from different regions, with processes handled by multiple disparate platforms, which lead to inefficiencies, inconsistencies, and data discrepancies
Recommendation
Consolidate the overlapping systems across the company, fully utilize the existing tools by leveraging more out-of-the-box features and automation and making the most of Salesforce, and retire excessive tools
Benefits
Enhanced efficiency and data consistency, improved cross-departmental collaboration, reduced reliance on external systems and lowered vendor fees, reduced data errors and loss, and seamless user experience across all departments
Lack of or insufficient visibility into corporate KPIs, with reporting and KPI tracking carried out through manual data consolidation from various sources (e.g., Google Sheets), which negatively impacted performance and customer satisfaction and hindered effective decision-making
Recommendation
Automate reporting and introduce real-time KPI dashboards in Power BI
Benefits
Insight into business health and trade metrics, enhanced performance tracking, lowered reliance on manual data consolidation, better data security, and enhanced report accuracy to promote data-driven decision-making, clear goal-setting and alignment, and strategic planning and accountability
Skill gaps, with Salesforce capabilities underutilized across all offices
Recommendation
Provide Salesforce training and develop education materials about Salesforce functionality for staff. Establish a structured communications and training framework to ensure all teams use the new software efficiently
Benefits
Improved system utilization, streamlined onboarding for new team members, strengthened cross-team collaboration, higher productivity and engagement, and reduced reliance on manual workarounds
Insufficient role clarity leading to the misalignment of responsibilities
Recommendation
Develop departmental roles and responsibilities documentation
Benefits
Clarified accountability and improved internal communication
Immature Agile practices reducing efficiency during software development
Recommendation
Conduct a proper Agile methodology adoption
Benefits
Increased efficiency, improved adaptability to changes, strengthened team collaboration and communication, and faster project delivery due to iterative progress and continuous feedback loops
Manual software deployment being time-consuming and error-prone, often delayed by network and resource issues
Recommendation
Automate deployment
Benefits
Shortened project timelines, improved deployment accuracy, repeatability, and system stability, and strengthened scalability to support future growth and faster iterations
Each recommendation included a weighted expert-assigned score, factoring in business value, confidence level, and estimated implementation and training costs.
Then, we refined and prioritized the initial recommendations based on their urgency. For the selected priorities, our experts developed detailed requirements and solution designs, helping define implementation strategies and solution options and laying the groundwork for their adoption. We also designed a comprehensive Salesforce training roadmap that incorporated face-to-face sessions, online courses, and the creation of educational materials and a wiki knowledge base.
IT department
3
Cost
2
Effort
5.0
Score
5
Impact
5
Confidence
Title: Formula-based weighted score example
Need comprehensive technology consulting?
The outcome
Itransition delivered comprehensive technology consulting to a trading company, helping the customer:
01
Gain a clear understanding of their company’s business processes and IT infrastructure landscape
02
Identify and prioritize the most critical issues
03
Learn how to streamline and consolidate business processes and systems for improved efficiency and consistency across teams
Related cases
Service
IT consulting
Our technology consultants help enterprises across industries adopt the right software to achieve their business goals. Contact us to discuss your project.
Service
Financial software development services and solutions
Build a robust fintech software solution according to your business needs. Choose a trustworthy software development company as your tech partner.
Service
Fintech software development services
Itransition helps BFSI companies implement reliable, secure, and compliant fintech software that streamlines the delivery of financial and insurance services.
Service
Software development consulting services
Software development consulting services from Itransition to successfully implement your project, confidently navigating technical and business challenges.
Service
Salesforce consulting services
Comprehensive Salesforce consulting services from certified experts to help you implement an effective Salesforce-based solution or enhance the existing one.
Case study
Atlassian-based project management system for banking
Learn how Itransition implemented an efficient Atlassian-based project management system and knowledge base for a European bank.