Rapid Finance Platform Implementation into Government Agency

Our client, a State government financial agency, selected Exent to replace Finance One with Microsoft Dynamics Finance & Operations. With a focused approach and a seasoned Project Manager at the helm, the project ensured efficiency, successful vendor management, and achieved quality, cost, and schedule objectives. This initiative paves the way for sustainable growth in financial management and data analytics.

CHALLENGE

Our client, a primary financial agency for the State government, is responsible for securing optimal funding terms and operates within global financial markets. It serves a diverse range of clients, including government-owned entities, departments, local governments, and universities, providing essential financial services and resources.

The client had relied on Finance One by TechnologyOne as their Financial Management System for 20 years. In February 2019, the decision was made to explore a more suitable system. By March 2019, a Request for Proposal was issued to six vendors, including the incumbent. In June 2019, Microsoft Dynamics Finance & Operations was selected, with DXC as the implementation partner and Exent tasked with governance.

The project aim was to implement a top-tier solution for the client’s financial needs, offering user-friendly insights and seamless integration with existing systems. A key focus was establishing a collaborative partnership with the chosen vendor for technology and system enhancements. The project also placed significant emphasis on creating a support model aligned with the client’s business needs to ensure ongoing efficiency and success.

APPROACH

Our approach involved the amalgamation of distinct responsibilities (Governance, Business Requirements, Vendor Delivery). This included seasoned Project Management, expertise in agile development, data migration, efficient vendor management, and Exent’s provision of a Microsoft Dynamics Finance & Operations expert to guarantee project success.

Implementing finance platforms is an infrequent undertaking, requiring experts like Exent’s Project Manager with Microsoft Dynamics Finance & Operations experience to mitigate implementation risks. Our project revealed that three distinct areas of responsibility were crucial:

• Overarching Governance, Oversight, and Risk Reduction (Exent).
• The Business and their Requirements (Client).
• The Vendor responsible for delivering to those requirements (DXC).

The preferred model involved a single experienced Project Manager who served as the linchpin to success. This role included project management, governance, delivery, planning, resource management, and vendor oversight.

The Project Manager collaborated closely with the Vendor Project Manager to ensure the efficient implementation of FinOps, led change management efforts, and served as the central point of contact. Exent took charge of ensuring project activities aligned with goals, planned for success, managed resources efficiently, and effectively mitigated risks, all while overseeing budget control.

As part of the Steering Committee, Exent’s Project Manager and resources skilfully addressed project governance and management challenges, guided change, ensured alignment with project goals, and facilitated effective vendor collaboration. The involvement of Exent as the linchpin for success included offering recommendations on milestones and delivering comprehensive project management services.

OUTCOMES

“The plan established at the start of the project was met in terms of quality, costs and schedule.”

Exent’s proactive and comprehensive approach uniquely positions them to make a substantial contribution to the success of the client’s financial system migration project. The outcomes of their involvement include:

• A well-structured project with clearly defined responsibilities for governance, business requirements, and vendor delivery, ensuring accountability.
• Appointment of a highly experienced Project Manager to efficiently coordinate all project aspects, report to the Steering Committee, and manage vendor activities.
• Exent’s expertise spanning project leadership, planning, financial management, and quality control, guaranteeing the project’s success.
• Efficient vendor management as a pivotal component of the project’s success, with the Project Manager driving vendors to adhere to schedules and scope.
• Expertise sourced for key roles, including a Project Manager with extensive experience in Microsoft Dynamics Finance & Operations, effectively mitigating implementation risks and contributing to project success.

Exent not only resolved immediate challenges but also established a path for sustainable growth and excellence in financial management and data analytics.