The Challenge
A US-based investment advisor engaged Cutter Associates to conduct a vendor search-and-selection project to identify a vendor system that can streamline marketing and client presentation workflows. Cutter was then asked to complete the implementation of the selected solution.
Action Taken
The implementation included the building of the data blocks, data objects, and the initial authoring of the reports.
To make the project manageable, Cutter split the project into three phases based on the report output and data availability:
- Phase 1: Fact Sheets
- Phase 2: Pitchbooks
- Phase 3: Client Presentations
This approach also allowed for incremental improvements while the client learned the system, finalized reports, and centralized data. Knowledge transfer was provided to the client during each phase of the project. This allowed the client to be more involved during each subsequent phase. Ultimately it allowed for a seamless transition to the client in Phase 3.
Given the different responsibilities of the team members, one phase could start before another was finished. This allowed for a faster go-live timeline while not burning out resources.
Cutter skilled industry experts provided the following activities during each phase:
- Analyzing the reports to determine the objects to be built.
- Highlighting data gaps and inefficiencies.
- Standardizing inconsistent reporting of content.
- Reviewing the source systems to verify data availability.
- Working with the client to close any gaps.
- Building the data objects and data blocks so the content was in a report-ready format.
- Authoring the reports.
- Providing knowledge transfer to the client.
- Assisting during UAT, as needed.
Cutter also provided project management support to:
- Manage the budget, timeline, and scope.
- Coordinate the overlapping phases.
- Prepare bi-weekly status reports and facilitate open communication to address issues and blockers between the client, the vendor, and Cutter.
- Provide a centralized project document location.
Results
The first phase of the project was completed and rolled out to production in 2.5 months. The second phase followed a month and a half later. The third phase was delayed given rebranding efforts and scope changes. It was completed 2 months later.
There were no surprises during the project given the open communication and the structured project management processes that were followed. The scope during phase 3 expanded to allow additional changes needed to the client presentation templates.
Cutter was engaged to provide advisory services post-implementation. These services continued the knowledge transfer and provided additional resources to facilitate the expansion and maintenance of the templates.