The problems we help solve - DESTRAC Nordics

The problems we help solve

The problems we help solve

“There is no need for every financial organisation to reinvent the wheel”

We are founded based on a deep commitment to help make our clients large and complex decommissioning projects succeed, hence our name which stands for decommissioning, strategy, consulting. Since our inception we have however broadened our scope and do now assist with solving a broad range of complexity and cost reductions. Through a persistent focus at benefit realization, we help drive real, measurable change results

Scroll down to learn more about the services we offer.

Examples of the problems we help the European financial sector solve

We bring experience and a flexible Microsoft based platform tested with large international financial groups. Our platform helps automate key transformational efforts including building, reviewing and approving business cases as well as follow up on application landscape progress and financial benefit realization. We help open up your IT and business-related data across your organization providing transparency and new insight for execution of M&A, cloud journey, automation and much more.

Our platform is delivered as an internal addition to our clients existing MS power components which is both secure and cost effective. Our clients are furthermore in full control of the platform and free to adjust, further integrate etc.

TEST AND IMPROVE YOUR DATA QUALITY IDENTIFY YOUR BUSINESS DRIVEN IT AUTOMATE YOUR BUSINESS CASES ACCELERATE YOUR CHANGE PROCESSES USE BENCHMARKING TO IMPROVE PERFORMANCE USE RISK DATA TO MEASURE TRANSFORMATION PROGRESS

Test and improve the data quality across your application landscape

Run a match of your existing application data quality vs. your expected standard. View both functional, technical and financial dimensions. Find black spots, unsupported applications, missing data, lack of application ownership and much more. Open up the results across the organization to facilitate improvements organically.

Findings are usually very valuable and can lead to clean up of legacy components, cost savings, architectural improvements and much more.

We help suggest relevant measuring data points which can easily be adapted to your needs and deliver the components you need to run the assessment. Our approach is straight forward and delivers very interesting value for a limited effort

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Uncover your business driven IT

And use your findings to help your organization better scale your business and reduce risks and costs at the same time

Most large organizations operates a wide range of shadow applications which typically are internally developed IT systems and support tools such as databases, batch jobs, reporting jobs, scripts, VBA code, file transfers etc. In essence, they are all IT based components which staff use to perform their daily work, and which have been developed or installed by end user staff why they are unknown to central IT and Enterprise architect units.

From our work helping large organizations uncovering their shadow IT we have experienced a range of benefits. The most common benefits we see are:

You will find the keys risk in time and you will be able to take mitigating actions
You will find opportunities to release staff from tasks which can be scaled in a better way thereby releasing costly resources to do what is more valuable
You are bringing IT and business closer together which will bring additional positive effects in terms of new solution designs, acceleration, simplification, cross use of technology etc.

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Realise the expected benefits from all of your business cases

And save time and efforts on manual business case processes which does not provide sufficient oversight and benefit tracking

Financial companies each year fund a broad number of IT and business transformation initiatives. We observe that executive management finds it difficult to follow up on business cases over time and track if the expected benefit realization takes place.

We work with organizations and help digitalize and automate the process of constructing, approving and follow up on business cases. We help set up live steering cockpits thereby saving time and costs from staff building management presentations continuously. Our component automatically aggregates all approved business cases into a live executive cockpit for management and stakeholders. The cockpit keeps track of funding used and benefits achieved as these are verified by the financial controller. Often business cases will evolve over time as the organization experience new learnings, face issues etc. The cockpit therefore tracks each business case over time making it possible to learn from estimations to improve forecasts etc.

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Accelerate your change process

We help transformation programs, M&A activities and other key change initiatives succeed

Our clients frequently execute important change processes where a range of IT applications, staff and business capabilities are transformed. Although project frameworks are in place, these important change processes are often handled and controlled manually and through use of excel like solutions.

We typically meet very strong subject matter experts who wants assistance to create an automated process with the opportunity to keep stakeholders updated live without having to spend time on manual reports and presentations. Another requirement is often to create logged online approvals of keys steps in the process as well as automated follow up on topics deviating from an expected standard. In other words, to lift the steering of the change process from being manual to being automated, documented, and intelligent. We help address these requirements and use our change tool standard, based on Microsoft technology, to set up a solution for the change team matching their requirements. We are strong believers in simplicity and aim for basic and cost-efficient solutions which can be launched fast and which does not require specific training or service desks to support users.

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Benchmark your progress and extract valuable knowledge

Across divisions and units of large institutions, IT performance and costs vary. Reasons are many and variances can for instance derive from business type, complexity, volumes, legacy burden, and internal utilization to name a few. In addition to the general KPIs in place we help dig one step deeper to view and benchmark progress across business areas including transformational progress. This normally enables a range of very valuable discussions for instance on utilization, potential shared services, vendor cost levels etc.

During 2023 we have a distinct focus at measuring and benchmarking complexity in the application landscape and we are working with a number of European Banking Groups to define and benchmark the most meaningful measuring points which can be used to benchmark complexity reduction progress over time

Use risk data to run better transformations

Application risk data are valuable pieces of information which can be used to run better transformations. We help organizations add risk data to their transformational initiatives enabling an “x-ray view” at application level which can be used to understand the risk profile of each initiative over time and make sure that mitigating actions are in place. Benefits are very visible, and organizations can save time, cost and avoid damaged reputation by investing a modest effort into this approach.

Using and pairing risk data more actively also makes it possible to estimate the cost value of risk reductions based on a set of agreed assumptions. This adds real value to business cases, financial forecasts, valuations etc.

TEST AND IMPROVE YOUR DATA QUALITY IDENTIFY YOUR SHADOW APPLICATIONS AUTOMATE YOUR BUSINESS CASES

Test and improve the data quality across your application landscape

Findings are usually very valuable and can lead to clean up of legacy components, cost savings, architectural improvements and much more.

Learn more

Uncover your shadow IT

And use your findings to help your organization better scale your business and reduce risks and costs at the same time

From our work helping large organizations uncovering their shadow IT we have experienced a range of benefits. The most common benefits we see are:

You will find the keys risk in time and you will be able to take mitigating actions
You will find opportunities to release staff from tasks which can be scaled in a better way thereby releasing costly resources to do what is more valuable
You are bringing IT and business closer together which will bring additional positive effects in terms of new solution designs, acceleration, simplification, cross use of technology etc.

Learn more

Realise the expected benefits from all of your business cases

And save time and efforts on manual business case processes which does not provide sufficient oversight and benefit tracking

Learn more

ACCELERATE YOUR CHANGE PROCESSES USE BENCHMARKING TO IMPROVE PERFORMANCE USE RISK DATA TO MEASURE TRANSFORMATION PROGRESS

Accelerate your change process

We help transformation programs, M&A activities and other key change initiatives succeed

Learn more

Benchmark your progress and extract valuable knowledge

Use risk data to run better transformations

Additional examples of our support to transformational initiatives

Case Example: Core transaction system replacement

A large Multinational Financial Group is changing its core transaction system. During the project, management requested an updated forward-looking plan to secure its costs savings through decommissioning of the existing system. We helped perform a thorough analysis across business and IT in close co-operation with subject matter experts, vendor teams and project consultants. The analysis provided valuable insights and directions including detailed guidance for important business-related
decisions leading ultimately to decommissioning of the legacy IT system and realization of expected cost savings.

Case Example: Cloud journey covering all functions of a large bank

A large European Banking Group request assistance to review its ongoing journey to move core platforms to the cloud. We integrated with the existing program team and assessed substantial amounts of data to understand progress and impediments across a large amount of user groups representing all functional divisions of the bank.
Through our data driven approach we were able to help pinpoint and re-prioritize efforts going forward – as well as provide executive insights and clear recommendations for management.

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DESTRAC Nordics

Højbrolund
Møngevej 17
3210 Vejby
Denmark

Email: [email protected]
CVR (REG.) nr . 41660163

MD, Thomas Nehring

Email: [email protected]
Phone: +45 40 85 31 70

DESTRAC UK representation

75, King William Street
EC4N 7DE
London
UK