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Fidelity Project Summary

In late 2007, Taysols was engaged by Fidelity Asia Services, following an analysis by them of the local consulting marketplace, to assist with two related projects. The first of these was to be conducted from the offices in Asia, most particularly Hong Kong whilst the second was to be performed in Sydney, Australia.

The impetus for the first project was that Fidelity International recognized that the Asian institutional finance team was spending too much time in preparing information when compared to the time spent analyzing it. In order to adhere to the required timeframes, Fidelity International personnel were working extremely long hours, week after week, month after month.  Taysols was engaged to analyse, thoroughly document and describe, field by field, report by report, the sources of information and the processes involved in transforming, collating and producing management reports from them.

Through a series of internal workshops and interviews Taysols developed a complete data and process map of the “As is” situation. Based on all of this information, Taysols then prepared a comprehensive text for executive and functional expert consumption. As part of the paper, Taysols included a recommended architecture and process reform with a supporting plan around its enablement. The paper and its recommendations were adopted by Fidelity International and indeed exceeded Fidelity International’s expectations. “We chose Taysols because they listened to our issues and quickly responded with a solution, an experienced set of CVs at very competitive rates and were able to work to our schedule.” says Nigel Ephraums – Senior Manager of Asia Pacific Finance Systems.

Concurrent with and following from the project outlined above, Fidelity International engaged Taysols to lead the design and implementation of a customer profitability model in Hyperion Essbase that would allow regional teams in Hong Kong, Japan and other parts of Asia to provide their business units with the ability to undertake detailed profitability analysis. This re-evaluation allowed for a dramatic simplification of business rules and the establishment of a framework for regional teams to accurately and unambiguously define their own requirements, in turn accelerating the development.

Fidelity International’s solution collates data from a number of Enterprise systems within a common model where consolidation and a number of business rules, such as cost allocations can take place without the prospect of discrepancy across business units. Fidelity International’s regional business finance teams now have the ability to analyse client profitability information from a single source, eliminating the need for separate Excel models in each country.

"The tools developed by Taysols have assisted us in rapid information delivery to very senior levels of management. The data is presented in such a way that Country MDs and Sales Team Directors are interested in viewing the data directly in the tool rather than waiting for the information to be delivered by Finance." says Nigel Ephraums, Senior Manager Asia Pacific Finance Systems.