Data Strategy

Challenge faced by the business

Yorkshire Building Society is one of the largest building societies in the UK, they had invested heavily in data technology and associated change programmes but had not been able to unlock the expected benefits and value. Despite having made good progress with data governance initiatives data was still a significant business issue.

How we helped

DPI Consulting was tasked with developing and agreeing an enterprise data strategy for YBS Group alongside shaping, mobilising and leading a transformation programme with a remit to change how data and MI was consumed, delivered and governed across the business.

What we delivered

Review & Audit

  • A review of business strategy, requirements, past investments and current state was completed to understand the 'as-is' landscape along with key risks, issues & priorities

  • The data & MI delivery & operating model was analysed to understand in-efficiencies, levels of capability and where improvements should be made

Strategy & Roadmap

  • Developed an enterprise data strategy, presented and agreed at both executive and board level

  • Built a data transformation roadmap, aligned to the existing change portfolio where possible, with remaining prioritised requirements forming the scope of a data specific transformation programme

Delivery

  • Led and sponsored the data & MI transformation programme over an 18 month period, delivering prioritised scope to close key business risks

  • Developed a delivery partnership with a technical delivery specialist including the development and deployment of an offshore delivery capability

  • Completed a pilot and built a business case for the introduction of data virtualisation technology as a means of addressing the core scope of the data & MI transformation programme

  • Led numerous vendor evaluation/selection exercises across specialised finance areas inc. hedge accounting and regulatory reporting

  • Developed a new data & MI operating model for the business, supported the preparation and rollout of further operating model changes

Results

  • Delivery cost of the programme reduced by c40% through the use of alternative technologies

  • Re-purposed existing technology to meet data governance/management requirements

  • Key risks within the finance team addressed through the deployment of new solutions alongside process and control improvements

  • Operational reporting catalogue reduced by c60% through improved MI management processes

  • Data virtualisation technology deployed enabling governed access to data and reducing the time taken to provision data from weeks/months to hours/days

  • Significant operating model changes completed, including the appointment of a director level role accountable for data and the centralisation of data/MI resources to form an effective federated data & MI capability for the business