“With increased pressure on productivity and profitability, we needed to focus our resources on projects that were sure to produce winning results. We engaged TCS to recommend a solution for efficiently managing projects at Daiwa. The in-house training sessions conducted by TCS combined with the external training sessions helped us deliver more than our expectations.”
- Daiwa Capital Markets, John Zendano, Managing Director
The Customer: Daiwa Capital Markets Hong Kong Limited is one of the leading investment banking companies in Hong Kong. It is a subsidiary of Daiwa Capital Markets Asia Holding B.V., an investment bank based in Tokyo.
Daiwa Capital Markets was looking for a holistic solution that would help it efficiently manage all on-going and planned IT projects. The management needed real-time visibility into project status, project financials, resource usage and other metrics.
Challenges included the following:
- Time-consuming and ineffective proposal evaluation due to use of manually created business case
- Undefined resource allocation process, leading to allocation managed over email, causing inefficiencies
- Errors and delays in reports due to lack of a reporting tool
The consulting team at TCS conducted an in-depth analysis of the existing IT process documentation at Daiwa Capital Markets. We recommended the implementation of an efficient project portfolio management framework to institute stage gate reviews, define roles and responsibilities clearly and improve demand prioritization. On the basis of the identified areas of improvement, we recommended the implementation of Microsoft EPM 2010 as the best fit for Daiwa Capital Markets’ project and portfolio management.
The solution provided a wide range of reporting and analytics tools to ensure effective cost controls, empowering it to manage project-related costs, budgets and statuses for on-going projects. This enabled the company to manage projects effectively, track potential issues and risk factors, as well as easily allocate resources. The status reporting process became more efficient and user-friendly. Details on resource allocation, actual time spent on project activities, project tasks, and budgets were available at the click of a button.
Additionally, the training conducted by TCS, integrated with an external training on EPM, helped Daiwa Capital Markets’ staff members understand the tool better and utilize it more efficiently.
The engagement between TCS and Daiwa Capital Markets ensured an effective collaboration between the management and all relevant stakeholders and achieved the following:
- Effective demand management: Digitized the demand management process, allowed planning from initiation to resolution and helped the company track project approval workflows, measure project performance and effectively manage IT demands.
- Enhanced resource management and planning: Provided efficient closed-loop resource management, better supply and demand along with human capital allocation. It also increased the awareness of staff assignments, expectations and improved collaboration within teams.
- Improved decision making: The client now has access to a real-time, single-source of information on all projects, along with easily exportable reports and dashboards - to facilitate timely, accurate and proactive decision making. EPM 2010’s performance point dashboards gave it a holistic, prioritized view of its portfolio of initiatives, ensuring an increase in success rates.
- Better risk management: Efficient tracking of issues and change requests improved risk management coordination, compliance and collaboration.
- Reduced costs: Better visibility into project performance and improved management of project budgets and costs.