EY ifb Transformation services for financial organizations

Optimizing financial and risk management within an organization’s overall architecture is one of our core competencies. As well as our specific enterprise architecture metamodel we use standardized analysis to form an overview of your business’s capabilities, linked to your business processes and data models. Using this 360-degree view, we can redesign your architecture as a whole or in specific areas, considering all interfaces and interdependencies between methods, business processes, data, applications and the organizational structure, as well as the associated risks and controls. This feedback is integrated in individual functions and the underlying application landscape. We can therefore create a foundation for overall corporate management with continuous improvement processes, agility and sustainability.

We develop solutions to disentangle often barely manageable networks consisting of diverse data silos and transform them into a uniform, centrally manageable data layer. In this process, we simplify the system architecture and data consolidation, thereby realizing significant cost savings. We achieve this by taking a comprehensive view of the business processes, data flows and data models of your company's departments including the associated IT systems. By replacing or minimizing expensive manual data processing procedures and error-prone consolidation steps, we boost data quality and business process efficiency.

We design new team structures and reporting lines, replace functional or silo-oriented structures and ways of working with flexible, process-oriented procedures, and introduce adequate software solutions. Implementing these measures demands a great deal from your employees; we support you with effective change management that includes targeted communication among management, employees and project teams, as well as training materials. All of which helps gain your employees' commitment during and after the transformation.

At the beginning of a transformation project, we review your processes, regulations and governance. We identify processes that may need to be changed, whether existing applications can be integrated, or new software solutions with specific features have to be implemented. We can also map existing risks to establish optimally adapted control mechanisms. Based on these analyses and findings, we develop a design to optimize your business processes, which generally includes more effective process management with complete process documentation, as well as new policies and revised roles and responsibilities.

We apply the highest standards of process compliance, cost controlling and quality assurance throughout the entire project life cycle. Quantitative and qualitative reports, as well as your own personal contact at EY ifb, provide you with the fullest information and transparency on the status of implementation and achievement of milestones in your transformation project. We use the entire spectrum of conventional and agile project management approaches as needed in each case, finding the right balance between proven standards and your own individual requirement.

We have high-quality standards for the transformation process and monitor compliance with these standards on an ongoing basis. We check the functionality of our procedural models and the implementation of defined requirements in measurable results. We work with you to formalize the control mechanisms between individual project phases, using quality assurance reports to ensure quality goals are met. As part of our REFRAME^TM methodology, we monitor the new business processes and systems for performance and practicality using specific test strategies as part of commissioning, evaluation and validation of the target state solution.