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​