The Business Challenge
This Hedge Fund was looking to improve accessibility to information from various systems and across formats to employees, while reducing the usage of Exchange mailboxes for storing of data. All documents were being stored on a network drive, with access and changes not being audited.
Furthermore, related information on different mediums (particularly email), was effectively inaccessible by other employees and in practice lost once the employee left the organisation.
Requirement:
To provide a system which consolidates all internal sources of data, specifically research and emails.
IT objectives:
- Deliver automated collation and indexing of all trade, research and email related information across systems and formats.
- Implement a user-friendly and reliable system that enables authorised company employees to locate enriched information.
- Reduce cost and time for access to company information.
- Reduce load and increase performance of Exchange server.
Business objectives:
- Enable employees to locate and share related information from various sources
- Increase insight into access and use of internal information
- Remove the need for employees to use their mailboxes as information stores
Main Challenges
Most organisations, and particularly Financial Service Institutions, have user mailbox sizes in gigabytes. These emails have important information that could be useful to other team members and are inaccessible. There is an expense related to this, in time and productivity, while it also forces the business to spend large sums of money keeping their Exchange server responsive. When the employee moves on, that information effectively is lost, while it may reside on some offsite backup, it is effectively hidden and not easily referenced.
Key processes related information is stored on a variety of mediums and formats, so for example research can exist in the shape of a PDF on the network drive, a excel spreadsheet with calculations and emails containing relevant information. The challenge is to make that data accessible in a central location, to enable team members to effectively find and utilise that information regardless of where it originated from or the location it resided.
Our Solution
As the manner of communication and sharing of data continues to evolve, so must the methods and systems that are used in order to manage that valuable information. This forward-thinking hedge fund realise that in order to improve productivity and utilise their valuable information to maintain their competitive edge they needed to implement an enriched information management system.
Benefits
Roll-out of the system has been completed ahead of schedule and on budget, users have taken to it with surprising ease, information has been enriched to provide additional value and email server storage has been reduced by just under a terabyte of data, which has improved the performance of Outlook.
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