Fund Data Services Migration & Target Operating Model

Background

Our client, a leading global asset manager, faced service issues with their current fund data vendor amid increasing regulatory complexity. As a key contract neared expiry, the client initiated a migration to a new fund data vendor to improve data quality, operational resilience, and regulatory compliance—all while ensuring uninterrupted business continuity.

PryceWilliams was engaged to provide expert planning and design support, leveraging our experience to enable a smooth and timely transition.

Approach

To achieve the client’s objectives, the project was structured into two workstreams:

• The migration of the fund data services to the new provider.
• The design and implementation of a Target Operating Model (TOM) to optimise fund data services.

With the client’s incumbent vendor contract due to expire, quick mobilisation was critical to success. Through workshops, we quickly developed knowledge of the client’s legacy systems and processes to support the planning and design phases, minimising disruption and managing risks effectively.

Key activities included:

• Vendor due diligence
• Activity sequencing
• Process mapping
• Providing knowledge and expertise
• Project management and project governance

Analysis

Vendor due diligence

We engaged with key business functions and stakeholders across the organisation to gather and validate fund data service requirements. We analysed this information as part of the due diligence conducted on the new fund data provider to assess capabilities and identify and evaluate any gaps or risks relative to client expectations and regulatory standards.

Activity sequencing

We worked with the key stakeholders to analyse dependencies and prioritise critical paths, enabling us to optimise project timelines. By doing so, we were able to minimise potential delays, ensuring timely delivery and identifying the need for contingency plans to address identified risks.

Process mapping

We created process maps of the current state of fund data workflows. Workshops with stakeholders revealed opportunities for enhancements, including manual steps which could be automated and overlapping activities which could be streamlined. These findings were then built into the TOM design to enhance operational efficiency.

Provide knowledge and expertise

Leveraging the knowledge in our team of the intricacies of the client’s systems and processes, we provided valuable insights to the planning and design activities. We were proactive and instrumental in identifying bottlenecks and calling out technical complexity. These insights helped keep the project on budget and schedule.

Project management and project governance

Robust project management and governance underpinned all activities, informing the development of the key activities for the plan and ensuring transparent communication. Project documentation was maintained, including minutes, action logs, risks, assumptions, issues, and decision logs. These were regularly shared with stakeholders, providing a clear audit trail that supported accountability and decision making.

Conclusions

We delivered value to our client through expert planning of the migration and design of the TOM:

• Our team ensured continuity of business-as-usual operations throughout, allowing internal staff to maintain focus on daily responsibilities.
• Proactive identification of potential issues and communicating their impact on project timelines allowed senior decision-makers to manage risks and strategy.
• Documented process maps, including identified enhancements, informed the TOM design and can also be used to support knowledge transfer.
• Project artefacts and the analysis produced can be used in the subsequent project phases to support the achievement of our client’s goals.

Recommendations

Based on the successful planning and lessons learned from this vendor migration and TOM design project, we recommend the PW Project Planning check to support any or similar initiatives that your organisation may wish to undertake. For example, the PW Project Planning check covers the following:

• Conducting thorough due diligence to assess vendor capabilities and support future-state design aligned with business objectives.
• Efficiently sequencing activities by analysing dependencies and prioritising critical paths to enable a smooth migration.
• Analysing required resources and their capabilities to ensure appropriate skillsets and capacity are available.
• Performing analysis of technology, systems, and process requirements to uncover challenges and opportunities.
• Leveraging prior knowledge and domain expertise to inform planning, design decisions, and anticipate risks.

Next Steps

PryceWilliams provides specialist consulting and project delivery services for organisations undergoing strategic change, regulatory compliance and technology transformation needs. Our focus is on supporting the project sponsor to ensure project implementation is delivered on time and within budget. Should you need support, contact us to make progress happen.