Standard Life is a leading provider of long-term savings and investments. Established in 1825 and headquartered in Edinburgh, the company has around 8,500 employees internationally. At the end of March 2014 the Group had total assets under administration of over £247 billion, directly looking after around six million customers worldwide and supporting a further 16 million customers through its Joint Ventures. Standard Life plc is listed on the London Stock Exchange and has approximately 1.3 million individual shareholders in over 50 countries around the world.
- Sandy Begbie, Group Operations Officer, Standard Life
- Paul Chong, Group IT & Commercial Director, Standard Life
- Ciaran McGuigan, Finance Shared services Centre Director, Standard Life
- Corinne Powley, FaST Program Manager, Standard Life
As part of a major transformation programme, Standard Life was looking to replace their legacy corporate systems, one of which was their finance system. As a strategic business transformation partner for Standard Life, TCS created a blue print of the solution and worked with Standard Life for implementation. TCS leveraged Oracle E-Business Suite R12, Oracle Data Relationship Management, Oracle Business Analytics (OBIEE) with Oracle Exadata as underlying infrastructure to deliver the solution.
Ciaran says “They have brought their oracle expertise in making sure we have got the right design for our business requirements, one that is flexible for the future…they have also helped us to ensure that we have standardized, simplified processes that will allow our business to grow and be scalable without having to put extra cost into the organisation”
Paul highlights how “One of the areas in particular that TCS demonstrated real value in this work, was in the area of Program risk management, where they brought their extensive experience and helped us build strong, mitigating action plans that helped de-risk the whole program and make it a strong success”
It was the first time Standard Life undertook a radical transformation of their accounting systems. It was of paramount importance they have the confidence in working with the right business transformation provider to ensure the success of the project.
TCS provided security and further deepened the partnership amongst the business team and their working relationship with the new system by building prototypes of the solution. The teams felt confident about the solution that was being implemented and TCS worked across the organization including the Change Program.
Paul emphasized “Standard Life considers TCS to be a strategic partner in every sense of the word, through our engagement we have seen value, pragmatism and innovation delivered every time. The teams that have been put on ground demonstrate energy, enthusiasm and really the right attitude to work with us as one team to get the right jobs done”
Sandy highlights, “I think one of the big benefits of working with TCS is that they deliver what they say they are going to deliver, which sound fairly straightforward but when you are working with a partner having that confidence and certainty round about delivery means a lot. So yes, TCS have delivered on their promises”
Paul added “When TCS talk about experiencing certainty I can say for us at Standard Life, we’ve seen it, we’ve felt it, we’ve experienced it and we’ve delivered it”.