Framing the problem in the context of business strategy produced a comprehensive solution that is truly transforming the firm’s operations and has laid the foundation for its future growth.

The Challenge

Eliminating data and technology barriers to growth

Over time, the firm acquired multiple companies, each with its own systems and operational processes. As a result, multiple technologies—including reporting, investment management, and accounting solutions—performed similar functions, creating an inefficient data infrastructure that was very difficult to manage. Additionally, certain areas of the business maintained their own redundant copies of data and ran their own analytics manually. While the firm had begun to develop more consolidated data solutions, these did not meet the needs of disparate business groups. Together, these factors limited the firm’s ability to deliver timely, efficient, and accurate reporting and insight across the enterprise.

To support its goals, which include geographic expansion and doubling assets under management, the firm asked West Monroe to  help modernize its technology, processes, and access to data.

The Solution

Digital Transformation 

Before moving ahead with a solution, West Monroe engaged executives in discussions to explore and clarify the problem from the broader perspective of the firm’s business strategy. This ensured further efforts would be clearly aligned with business value objectives. These discussions, along with consistent value measurement, helped leaders stay on course as they navigated execution. West Monroe then worked with the client to advance initiatives that involve people and processes, as well as technology:

  • Producing a three-year digital roadmap for consolidating and modernizing the firm’s technology infrastructure and establishing a single and consistent data pipeline that drives reporting and other applications across the organization.
  • Redesigning ways of working that bring resources together in agile, cross-functional, product-focused teams that are able to respond faster to business needs and requests.
  • Modernizing infrastructure to increase agility and scalability. West Monroe helped the organization deploy its first cloud application within four months and is now adding new native cloud services incrementally. West Monroe also supported selection of new, modern tool suites.
  • Establishing effective transformation leadership, including a steering committee, as well as the program management office (PMO) structure to oversee implementation.
  • Improving data quality and access through  new policies, processes, and tools. In addition, West Monroe is helping the firm build a modern data platform.
  • Building ad hoc reporting capabilities to increase time to insights and establishing advanced analytics to support functions such as valuation modeling.

The Approach 

Equipping the client to run and advance a modern platform 

West Monroe “co-sourced” planning and execution, working side-by-side with the client’s teams for more than a year to transfer knowledge of new technologies and architectural patterns. This approach equips the client with skills to design and deploy services in the cloud, automate processes (Dev Ops), employ secure development and infrastructure practices, and embrace new agile and product management techniques. As the client’s teams gain experience in certain areas, West Monroe is able to scale back its support and focus on the next priorities of the roadmap.

The Impact 

Smart, agile, and scalable 

Through this effort, the firm is rapidly putting itself in position to realize aggressive growth and expansion goals. As implementation progresses, it is gaining new capabilities to:

  • Test and accelerate development of products and markets
  • Respond faster to requests from the business
  • Integrate future acquisitions
  • Manage all parts of the business using a single data pipeline 

As legacy services sunset over time, the firm expects to reduce annual operating costs by eliminating redundancy and utilizing a single  data pipeline.

“A giant leap for our business—kind of like the lunar landing of 1969.”

The company’s president, on completion of the first cloud-native application MVP (minimum viable product).

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