TRAVELEX - RETAIL FOREIGN EXCHANGE HEALTH CHECK

Highly reliant on Excel spreadsheets, Travelex required assistance to define their way out of the Excel jungle - using Schematiq to help them see the light.

The Problem

  • After years of expansion and acquisitions, global pricing processes were:​

  • Extremely complex, inefficient & inconsistent​

  • Highly reliant on Excel spreadsheets; within-day updates required huge level of manual effort​

  • Exposed to high level or risk due to bad processes and increasing market volatility​

Our Solution

  • We helped Travelex to define their 3-year IT roadmap to make robust scalable processes and transition away from spreadsheets​

  • This strategy used Schematiqin the short-medium term to transition to cloud hosting data and prototyping future solutions​

  • Large value delivered in weeks to existing processes, proving long-term business model

Our Delivery Differentiators

  • Schematiqallows a transition from Excel to a new architecture incrementally, reducing delivery risk and change management effort​

  • Seamlessly move data to strategic stores such as a cloud data warehouse​

  • Migrate calculations to more advanced models using Python and Rules Engines but with low impact on user experience, with Excel remaining as the interface in the medium term​

Results

  • Rapid automation of pricing process, with production pilot delivered within 4 weeks​

  • Real value realised as pricing could be updated in real time rather than just once daily​

  • First-year top-line benefits of over £3m identified​

  • Delivered value in fraction of time of large traditional tech transformation approach​