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