MidCap Data Strategy, Governance, and Business Process Assessment

Organization

Our client is a mid-market financial services company headquartered in Washington, DC, specializing in debt financing for companies across various industry verticals in North America and Europe. As of June 2020, the client had capital commitments exceeding $27 billion and has successfully closed numerous financing deals since its inception.

The client provides a wide range of lending products and services, including general asset-based lending, healthcare asset-based lending, leveraged lending, life sciences and technology lending, commercial real estate lending, healthcare real estate lending, FHA lending, and lender financing. Their management team is composed of seasoned investment professionals with decades of experience, offering customized financing solutions by thoroughly assessing risk.

CHALLENGE

Our client relied extensively on cloud SaaS solutions and commercial off-the-shelf products. They implemented controls for cybersecurity and GDPR compliance. XTIVIA was engaged to provide an independent and unbiased assessment of their current governance practices, data management strategy, and business processes to identify gaps and deliver recommendations for strategy, architecture, and a roadmap.

The heterogeneous SaaS application ecosystem, functional data silos, reliance on some manual processes, and lack of streamlined data management posed significant risks, including data quality, integrity, security, and privacy concerns, as well as potential regulatory breaches. The client’s future-state vision includes an integrated data ecosystem, a single source of truth, and a unified, end-to-end lending process encompassing KYC, customer background verification, risk assessment, deal closure, client onboarding, capital release, and accounts receivable.

TECHNICAL SOLUTION

Leveraging decades of expertise in Enterprise Information Management, we conducted detailed analysis of our client’s applications in terms of their data lifecycle, integration, technology platform, data security, privacy, compliance, current-state pain points, and future-state needs. We also performed a detailed assessment of their Data Management processes, Data Governance practices, and Business Processes in terms of People, Processes, and Technology. This assessment included surveys, interviews, artifact reviews, data profiling, application demos analyzing various facets (Data Ownership, Data Stewardship, Data Quality, Master Data Management, Metadata Management, Data Security, Data Privacy, Regulatory Compliance, Data Availability, Data Sharing, Data Recovery, Data Integration, Scalability, Portability, Application fit-for-purpose, and Extensibility of each application). The analysis also included a Data Governance Organization chart, current Operating Model, Principles, Policies, Practices, and their effectiveness.

The deliverables of this engagement included:

• Detailed findings including Risks, Issues, and Notable Success in their Data Management processes, Governance
• Practices, and Business Processes covering People, Process, and Technology dimensions
• Current-state Data Governance Maturity Rating
• Recommendation of Data Governance Organization chart, Roles and Responsibilities
• Data Governance metrics collection process including Data Quality
• Light-weight Master Data Management solution
• Data Management and Candidate Architecture
• Comparison of candidate tools in the areas of BPM/Workflow, Data Visualization, and Treasury Management System
• Standards and Best Practices
• Robotic Process Automation
• Detailed BPM Solution Functional Design Document with end-to-end Lending Process Lifecycle from high-level context to the lowest level detailed process flow charts
• Demo of an end-to-end Loan Processing BPM solution customized to fit our client’s needs
• Detailed roadmap, process, and steps for transitioning to the target Data Governance maturity state, implementing
• Data Management recommendations, and BPM solution
• High-level resources, budgetary estimates, and milestones to achieve Data Governance target maturity state, implement Data Management recommendations, and BPM solution

BUSINESS RESULT

XTIVIA’s detailed report of the findings, strategy, architecture, roadmap, and budgetary estimates provided our client with awareness of the gaps, risks, best practices, tactical and strategic objectives, and solution tradeoffs. The deliverables from the engagement provided the basis for cost-benefit analysis, justification for budgeting, staffing, and risk management in implementing the solution. The detailed report also provided a basis for prioritizing the implementation and sprint planning.

KEYWORDS
Data Strategy Assessment, Data Management Assessment, Data Governance Assessment, Data , Governance, Maturity Assessment, Business Process Modeling, Business Process Management, Business Process Assessment, Data Virtualization

SOFTWARE
SSIS, Power BI, Connect: Direct, SharePoint, Denodo, Reval

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