Optimum developed a Compliance Management Solution for a major global investment firm in just two months, helping them avoid significant regulatory fines and enhance workflow efficiency.
About the Client
The client is a major global investment firm.
Business Challenges
The client faced a tight deadline to comply with new government regulations, risking massive penalties if they failed. They needed a comprehensive system to manage compliance processes efficiently and accurately within a few months.
Additionally, they aimed to improve automation and workflow assignment across their operations.
Optimum’s Involvement
Optimum tackled the project with a strategic and collaborative approach.
First, we conducted in-depth requirements definition, regulation assessments, and process mapping workshops. This helped us understand the new regulation, evaluate the client’s current IT and process landscape, and fully define and document the requirements to meet regulatory needs.
Technologies Utilized:
- Smartsheet: Developed core capabilities such as System Sheets and Data Sheets, housing data from the client’s Financial System. Duplicate sheets managed extensive data processing.
- SharePoint: Created multiple “Workbins” to aggregate and funnel data through different processes with specific actionable items.
- Microsoft Power Automate: Implemented 3 workflows to generate PDF templates in real-time, attach them back to Smartsheet rows, and automate email notifications.
Development and Implementation:
Optimum used agile sprints for development, maintaining regular communication with the client to ensure alignment and transparency throughout the project lifecycle. We built several key components:
- Core Smartsheet-based Capabilities: Including System Sheets and Data Sheets to handle data from the Financial System.
- Multiple SharePoint Workbins: For data aggregation and process funneling.
- Power Automate Workflows: To automate PDF generation and email notifications.
Additionally, we created dashboards in Smartsheet for high-level overviews and access to any “Workbins” during the workflow. This ensured that the client had a clear and comprehensive view of their compliance processes at all times.
Project Outcomes and Benefits
Optimum delivered a robust compliance management solution within the tight deadline, yielding significant benefits:
Regulatory Compliance and Cost Savings:
- Successfully met the regulatory deadline, avoiding substantial financial penalties.
- Enabled the firm to comply with new government regulations seamlessly.
Enhanced Efficiency and Automation:
- Automated workflows reduced manual effort, saving valuable workforce hours.
- Streamlined processes improved the speed and accuracy of compliance tasks.
Improved Data Management and Reporting:
- Leveraged Smartsheet and SharePoint for efficient data aggregation and process management.
- Automated PDF generation and data validation using an SSIS Package, ensuring data accuracy and completeness.
High User Adoption and Satisfaction:
- Delivered a user-friendly and manageable workflow system.
- Enabled the client to focus on other internal priorities by reducing manual effort in compliance processes.
The client was impressed with the swift implementation and the system’s ability to streamline compliance workflows, ensuring regulatory adherence and operational efficiency.
About Optimum
Optimum is an award-winning, nationally recognized IT consulting firm serving clients across multiple industries in the US and Canada. We are dedicated to helping organizations enhance efficiency, overcome business challenges, and achieve digital transformation through strategic planning, innovative technologies, and streamlined processes.
We provide a comprehensive range of software services and solutions, including Custom Application Development, Systems Integration, Cloud and Office 365 Consulting, Smartsheet Consulting, SAP Services, Business Process Optimization and Automation, Business Intelligence (BI), Blockchain Applications, and Staff Augmentation.
Reach out today for a complimentary discovery session, and let’s explore the best solutions for your needs!
Contact us: info@optimumcs.com | 713.505.0300 | www.optimumcs.com
