At INFACT Consulting our methodology underpins everything we do.
Many years of refinement and constant updating of tools including databases of vendors benchmark requirements, standard RFT templates, RFT analysis and scoring allow us to streamline the process of system selection or review of business processes. Choosing the most appropriate policies, process and products for an organisation’s needs and being confident that the selections will deliver to functional, budgetary and timeframe expectations can be a daunting and difficult task to undertake together with consuming valuable in-house resources. INFACT Consulting provides a framework of experience and expertise that assists in making the right decision to achieve optimum functionality on time and on budget.
How do we do this?
Our modus operandi is Experience in Practice, we achieve sound working relationships through delivering projects at a high standard by drawing on our experience and expertise and putting this into each and every project we undertake. At each phase of our methodology we ensure a high degree of understanding of your business and requirements.
First Things First
Development of Target Operating Model:
- The Operating Model aims to close the tactical gap between Business Strategy and the actual implementation.
- The Operating Model translates the strategic goals into clearly defined implementation target and aligns the execution process to the business value proposition, making the strategic concepts a reality.
- The Operating Model is the “Business Architecture”. It is an integrated view of the People, Regulatory, Process & Technology requirements of a financial institution.
- The “Current” Operating Model is the current view of business architecture. It help us understand the baseline situation, identify improvement opportunities and constraints.
- The Target Operating Model (TOM) is the “to-be” or “future”view of business architecture that captures all the improvement opportunities that are consistent with the Institution Business Strategy.
Preparation of Requirements Strategy:
This involves the identification and consolidation of business and related systems requirements and issues to produce formal Requirements based Strategy, which can be used as the basis from which to launch procurement and implementation activities.
A clear and precise definition of requirements is essential before commencing any consideration of possible procurement activities; but this requirements definition itself depends on a clear articulation of business and systems strategies.
Preparation of Systems Implementation Strategy:
The purpose of this strategy is to document the objectives and recommended approach to system implementation.
Typically as part of this process we assist with the identification of suitable options and vendors to include in an RFT process, as well as identifying initial budgetary, technical and resourcing implications.
The example below illustrates the process of system selection. INFACT Consulting is experienced in the complete series of activities which is required to achieve system implementations which deliver capabilities to efficiently complement business objectives.
Initial Market Scan:
Via this process we make an assessment of potential systems against the identified requirements and strategy.
Typically this involves the preparation of a high-level summary on available systems using the information that we already have available as part of our information database prepared from many similar previous projects, however we may ask vendors for additional information where necessary and this will usually eliminate the need for the issuance of a RFI.
Preparation and Issuance of Tenders:
Our methodology developed over many years in preparing tenders and Requests for Tender (RFT) ensures all relevant potential suppliers are identified and their offerings accurately assessed against requirements.
Our involvement in Government as well as corporate environments means our approach is geared to ensure any potential probity issues are considered. For example we have issued tenders to Commonwealth Government and overseas standards such as the EU and World Bank.
Analysis of RFTs:
In conjunction with our tender methodology, our RFT analysis approach identifies the best fit against requirements, taking into account a wide range of considerations beyond basic functional and technical conformance. Our methodology provides:
- Assessment and rating of potential suppliers as viable long-term business partners, including their ability to work with staff to implement a system in a timely manner, causing minimal disruption to regular activities.
- Assessment of conformance to local and international best practice and compliance standards.
- Both quantitative and qualitative results.
- Gathering of information, which supports a high-level form of scoring, which allows “what-if” analysis of comparative results, which for example can alter priorities, weightings etc. on various assessment criteria.
- Assessment methodology, which has been used for the procurement of infrastructure and business applications to the several standards including the Commonwealth and State Procurement Standards.
Business Case Preparation:
INFACT Consulting have also developed a financial analysis approach, which in conjunction with the functional assessments, can be used to assist our client build a consolidated business case for the proposed project.
This approach includes the provision of a 10-year discounted Total Cost of Ownership (TCO) view comparing the current state and proposed target state, which includes both internal and external capital and operational costs.
Contract Negotiation:
There are several elements associated with negotiating a contract that provides maximum benefit to the client where INFACT Consulting can assist, and these include:
- Achievable delivery schedules and plan.
- Full specification of all fees and charges including up-front, capital, services and ongoing maintenance and support together with tight specification of scope and associated deliverables.
- The management and support structure applicable to the agreed project including the most appropriate mix of permanent, vendor and external consulting or contract resource.
Business Process and Organisational Alignment:
INFACT Consulting have also developed a financial analysis approach, which in conjunction with the functional assessments, can be used to assist our client build a consolidated business case for the proposed project.
This approach includes the provision of a 10-year discounted Total Cost of Ownership (TCO) view comparing the current state and proposed target state, which includes both internal and external capital and operational costs.
Acceptance Testing:
There are several elements associated with negotiating a contract that provides maximum benefit to the client where INFACT Consulting can assist, and these include:
- Achievable delivery schedules and plan.
- Full specification of all fees and charges including up-front, capital, services and ongoing maintenance and support together with tight specification of scope and associated deliverables.
- The management and support structure applicable to the agreed project including the most appropriate mix of permanent, vendor and external consulting or contract resource.
Delivery method:
INFACT Consulting operates on a fixed price against agreed scope basis; this gives our clients budget certainty. Our extensive methodology and documentation allows us to be both time and cost effective.
For example when looking at system requirements we undertake this on a “gap analysis” basis against our standard methodology rather than starting from scratch. Often we undertake assignments on a largely remote basis making effective use of email and conference calls to minimise disruption to client’s time. Our consultants are flexible and insightful, drawing on two decades of experience in the financial sector.