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Applying innovation to address data migration
The Business Issue IQ’s client faced a multitude of challenges: Legacy and inflexible systems, data complexities and a reduced time to market. They needed simple innovation. Our Innovative Solution IQ worked through the options, scenario planned outcomes and found a way forward that worked. It began by understanding what clients and brokers needed and then understanding how to deliver the tailored product bundles to these audiences interactively and in such a manner which allowed them to select, price and model outcomes. A complex data migration was required, as key information needed to be moved into a central repository. What Are The Business Benefits For Our Client? In the timeframe required, our client received: · Migrated and checked data in a central repository; · Operational processing that seamlessly moved the information required to the end party; · New business support; and · Automated member self-service. Our client looking at the various options and scenarios elected to enter into a joint venture with IQ, sharing in the benefits delivered. This joint venture delivered a straight-through back-end administration system, with direct and indirect cost saving (in resources and time) measured on our client’s bottom-line and their shareholders income statement. Yet another angle to innovative solution delivery. Simply understanding what was needed, re-engineering appropriate processes and looking for practical outcomes.
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