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Financial Services – Feasibility Studies and Design Project

Core Financial and Accounting System Feasibilities Study
Business Need:
In order for the client to immediately response to its new roles, and become efficient from the start, the organization has to have a complete core software environment based on the experience gathered from other financial services.
How VinaConsulting Helped:
  • Design the Accounting/Financial Software System to server the company based on Vietnamese Accounting Standards (VAS), with the flexibilities to adapt to the changes in regulations and accounting rules from the State Bank of Vietnam.
  • Ensuring the automation of reporting and communication of information between the organizations and departments (HQ, Branch offices, Departments).
  • Compliance IT Industry Standards for future integration
  • Focus on satisfying the requirement from the company within the next 2 years.
How the Client Benefited:
The client was confident to start the building of the core system for its initial period of operation. The company has started the acquisition of the system with a very clear design and solid understanding of its requirement and hence is ready for the User Acceptance Test even it is not in operation.

 

Core Insurance System Selection Project

Insurance System Selection
Business Need:
The client needed a new insurance system to solve many business needs. These needs included but not limited to tracking policies, tracking and preventing frauds, signing and accepting new policy holders, etc…..
How VinaConsulting Helped:
VinaConsulting’s Core Business Process Review assisted the client in delivering a view on how IT can be aligned to support its critical business needs. VinaConsulting assisted in assessing the core insurance business processes; reviewed its appropriateness and logics to ensure the business requirement is defined for the Request for Proposal which was part of a future work package.   In additional, VinaConsulting reviewed the business strategy developed by the client to make sure future core business processes are part of the RFP if available. The business strategy consulting services focused on helping the client maximize on the benefits of technology  in running their business.
How the Client Benefited:
The client benefited through  cost savings in the time required for the critical software selection process. In addition, the client was able to receive  advisory services during the evaluation process thereby  gaining better perspective on evaluating the best vendor candidate.

 

Accounting System Implementation

Accounting System Implementation
Business Need:
The client needs to establish its core accounting and finance system and migrate from their manual/excel system to the new system
How VinaConsulting Helped:
VinaConsulting helped the client to develop an accounting application through using an industry standard methodology for software development.  This methodology included but not limited to 1) Gathering Requirements, 2) Designing and Developing, 3) Testing, 4) Implementing, and 5) Support.
How the Client Benefited:
After 4 months, the team has implement the core accounting system at the client headquarter. The client agrees to sign up for phase II of the project to continue the roll-out to other offices around the country.

 

Point of Sale Assessment Project

Point of Sale System Assessment
Business Need:
The client needed  an assessment of their current POS system to understand why the system was not working in their retail environment.
How VinaConsulting Helped:
VinaConsulting provided a methodology to the client that helped guide them through the proper steps to perform an actual assessment where the client would benefit from actual deliverables. This methodology was describe in a project charter which included: 1) Objectives, 2) Scope, 3) Resources needed, 4)  Gathering of  Information process, 5) An explanation of  why is it critical to first understand the business operations current state. With this understanding and methodology, VinaConsutling was able to assess the POS system structure to conclude that the POS system was not the appropriate system for the client.
How the Client Benefited:
The client benefited through understanding that not all POS systems will function to meet the business needs in all environments. A methodology approach to first define what are the business requirements was critical in deciding the technical requirements. The end benefit for the client was a savings on operational expenses and solid inventory control management system, and usable data to predict future buys.

 

IT Environment Development & Point of Sale System Selection Project

IT Environment Development and Point of Sale System Selection
Business Need:
The client needed  a complete re-design and re-engineering of their IT environment to effectively support a newly planned retail system platform.
How VinaConsulting Helped:
VinaConsulting provided a methodology to group the various work streams of the project into work packages to more efficiently manage the client expectations and functional workload. Then developed methodologies within each work package to complete the objective of each work package. Through a professional project management methodology, VinaConsulting was able to guide the client to meet the senior executives and shareholders goal of on time and within budget and meet the stakeholders expectation of operating more efficiently in their jobs.
How the Client Benefited:
The client benefited with clear understanding in three areas: 1) improving their  operational processes resulted in better efficiency of time and resources, 2) an IT environment serves the business and not the other way around, 3) not all POS systems are created equally for all environments. Choosing the right retail platform is critical to monitoring and managing your business.

 

IT Assessment Project

IT Assessment
Business Need:
The client needed  an assessment of their current IT system to identify where improvements could be realized resulting in cost savings.
How VinaConsulting Helped:
VinaConsulting provided the IT assessment process methodology and explained to the client why this approach was best for their industry. This methodology was describe before the project commenced and then again in a project charter and kick-off meeting. The project charter included: 1) Objectives, 2) Scope, 3) Resources Needed, 4)  Gathering of  Information Process, 5) Approval Process, 6) Change Management Process, 7) Communication Plan. 
How the Client Benefited:
The client benefited through understanding their current state of their IT environment. This current state included 3 main areas: 1) People, 2) Processes, 3) Technology. With this Current State Assessment and a GAP Analysis, the client was able to prepare a solid business case for an IT Strategy Plan. This IT Strategy Plan will improve the client’s overall technology performance to include infrastructure, applications, resource skills set, and organizational structure.

 

ERP System Selection Project

ERP System Selection
Business Need:

A system to manage the sales, inventory, marketing, and accounting records in detail.

The client needed guidance in taking the company through a series of phases to complete the task of selecting an ERP system.
How VinaConsulting Helped:
VinaConsulting provided the whole set of methodologies in system selection. We review all the tasks and documentations from the project. We were also closely monitoring the different stages of the project from business requirement definitions, creation of the RFP, Vendors responses evaluations, Vendors reference sites visits, contract negotiation.
How the Client Benefited:
The client made a logical decision to choose the top ERP solution for their company. The contract was signed last month in July 2008. Project to be started next March.