CTRM replacement / upgrade Assessment and Advisory

Client Brief:

The client, a leading global food corporation, used disparate trading and risk management and ERP systems, spreadsheets, and price feeds to report daily positions to stakeholders. This often led to delayed and inaccurate reporting, impacting revenue, profitability also resulting in inadequate risk management. The reporting process being non-standardized and manual led to higher operating costs. Risk Management team of the client initiated an enterprise-wide global project across 150+ profit centres/business units to standardize, harmonize and automate position reporting. Commverse is involved in implementing and maintaining this global position reporting system.

Commverse Delivery:

Commverse contributed towards requirement gathering and solution design, implementation, project/program management, as well as post-go-live support:

1. Requirement gathering & Solution design:

• Identified and documented pain points and business requirements based on deep-dive discussions with end users.
• Worked closely with product owners, technical architects, data engineering, and platform engineering to define implementation and product roadmap, technology blueprint, business requirement documents, user stories, and position reporting templates.
• Reviewed, provided feedback and obtained sign-off from stakeholders.

2. Implementation:

• Collaborated with data engineering and Tableau teams to develop data layers for collating data from different sources and systems, harmonizing data based on agreed mapping logic, and grouping positions based on country, commodity, desk and reporting positions using business-specific Tableau reports.
• Performed internal acceptance testing, obtained product owner sign-off and organized deployment to the parallel environment
• Coordinated user acceptance testing, including parallel runs with daily position reconciliation, reported and resolved incidents and service requests and obtained business sign-off for go-live.

3. Project/Program management :

• Managed enterprise-wide multi-year rollout of reporting platform across 100+ business units covering 85% of client’s trading portfolio.
• Stakeholder management covering executive leadership, trade and product control, risk management and commercial leads and analysts/specialists
• Launched user adoption measurement and upliftment across live workstreams, improving RoI, adoption and usability.

Launched user adoption measurement and upliftment across live workstreams, improving RoI, adoption and usability.

• 24X5 monitoring of workflows for data collation, harmonizing, processing and reporting of positions based on workstream-wise SLA, incident identification and reporting and resolution in collaboration with project and/or other internal stakeholders.
• Incident, problem and service request management based on collaborative efforts of L1/L2 support analysts & L3 BA and support engineers.

Benefits

1. Centralized repository of standardized and harmonized Position data is created comprising of Physical/ Derivative contracts, Inventory and movements data
2. Position reporting processes standardized across 90% of the organization businesses, spread over 30 countries.
3. Streamlined post-go-live support, bringing about 100%+ productivity improvement and consistently achieved 90%+ SLA adherence for BOTH reporting and support ticket SLAs.
4. User adoption and usability improved Q-o-Q, leading to this platform becoming the user’s and leadership’s choice for timely, effective reporting of position data, which is critical for a commodity trading organization.