Investment Management
Avocado helped a leading investment manager replace ageing trading platforms and fragmented processes with a single, integrated operating model across its front, middle and back office, without disrupting customers or day-to-day operations.
Program Snapshot
- Funds under management: $100 billion+
- Program value: $130 million
- Timeframe: 2.5 years
About our clientOur client is a leading investment manager with more than $100 billion in funds under management. It engaged Avocado to help deliver a $130 million overhaul of its front, middle and back office operations and IT systems, with the goal of a new, fully integrated operating model.
The challenge
The client's trading platforms were rigid and error prone, and its business processes were fragmented across the front, middle and back office. That meant duplicated effort, operational risk and costly errors. The client wanted a modern platform that would let it offer better service and advice than its competitors.
Scale and complexity - The program was widely seen in the industry as one of the most complex of its kind. It covered new trading platforms, a central data platform, a reconciliation engine and a performance analytics system, all of which had to work together.
Aggressive timeframe - The transformation had to be delivered within 2.5 years to meet the client's growth ambitions.
No disruption - Everything had to be delivered without affecting existing customers or day-to-day operations.
Our approach
Specialists, not generalists
Avocado engaged consultants with deep subject matter expertise in investment management and invested in training them on each of the software packages being implemented.
Heavy business engagement up front - We worked closely with the business from the start of the program to make sure requirements, and the results built on them, were accurate.
Avocado's quality assurance methodology - We applied our own quality assurance methodology across the program, keeping quality high and reducing risk at every stage.
One point of contact - Because Avocado could cover project management, business analysis, development, data migration, data warehousing, testing and implementation, the client had a single, knowledgeable point of contact for all its delivery needs.
Through to BAU - We stayed with the program for its full life, through release and implementation management, user acceptance and training, operational handover and the transition to business as usual.
Results
- The client moved to a new, fully integrated front, middle and back office operating model.
- Avocado delivered on every commitment, with strong governance and transparent reporting that let the client track progress and stay confident of on-time delivery.
- Quality was maintained and risk reduced throughout the program.
- Knowledgeable consultants were always on hand, so the right questions were asked early and rework was kept to a minimum.
- Existing customers and day-to-day operations were protected throughout the transition.
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