The Challenge
Client Background
The client is one of the largest banks in the Midwest, with extensive retail and wholesale banking divisions. For this project, GDI worked with the wholesale banking group, which offers products for its clients to either use or resell to their customers with a delta net margin.
Project Objective:
The client was seeking to implement a web-based treasury management vision tailored to meet the needs of businesses that prefer to access their accounts without client-based proprietary bank software. The bank had PC based application for its Treasury Management services such as Check Management, ACH, Wires, check printing etc. This project involved developing web based application suite with uniform look and feel for the online customers which replaced the PC based applications which were maintained by different departments. Also the bank realized that by consolidating all the applications under one umbrella, they can market services to a wider customer base at a fraction of the cost and also will be able to realize savings on customer management function. Hence
The Solution
Technology Employed
Oracle, ASP, VB .Net, MTS, UNIX, Java, and a proprietary software platform from Bottomline Technologies custom-tailored it to suit the client’s needs
Project Details:
GDI consultants were engaged to manage the web-based project, with its $4 million budget and 18-month timeline, to successful completion through the application of lifecycle methodologies.
GDI consultants were responsible for:
- Monitoring project status reports
- Reviewing and scheduling project requests
- Collaborating with business analysts and project coordinators to ensure projects meet time and budget requirements
- Delegating tasks
- Leading and mentoring 18 direct reports
- Setting project goals
- Administering output
- Completing performance reviews
Other activities included: converting client requirements into functional specifications; system analysis and architecture design; development task estimation and issues assignment; and development, deployment and testing.
Key responsibilities:
- Infusing a project management lifecycle methodology into a department with no record of formal processes
- Creating organization and documentation in a previously ad-hoc managed project environment through detailed work breakdown structures (WBS)
- Independently managing overall project scope, risks, issues, meetings and progress
- Developing the project budget based upon discretionary funds assigned
- Ensuring budgeted time and dollars were properly allocated to project resources
- Leading by example for staff and senior management, while mentoring peers
- Managing and coordinating resources from a variety of functional areas
- Interacting with key stakeholders to facilitate and/or resolve risks and issues while making change controls
The Results
GDI met and exceeded the company and its stakeholders’ expectations.Return on Investment (ROI) has been significantly improved because a customer using one product can now be cross-referenced and marketed for other products in the same domain. The ultimate result was the achievement of better customer satisfaction – and by association, an improved bottom line – due to these enhanced products. They also found out that big companies like Progressive would like to just buy a part of this product outright and then sell it to their retail customers too, which was a new stream of revenue that was not known/intended before.