An LNG supplier needed to define its target IT architecture and decide on a solution to best meet their requirements. Baringa defined the scope and requirements of their target solution and undertook a market scan to present to the client their best available options.
A global LNG supplier required a Trading Risk Management capability to support its new LNG business becoming operational. The client wanted to define its target application architecture to support all business functions, including consideration of whether these applications would be best procured as commercial software or custom-built. The first step in the definition of the IT architecture was to specify and outline the detailed business processes and requirements.
Baringa was asked to outline the scope of and define the client’s technical and functional requirements across front, middle and back office. We created an initial view of their target operating model, including outlining their underlying workstreams and processes.
As part of helping our client to choose the application that would best meet their requirements, we undertook a vendor market scan and led an RFP process, including vendor demonstrations. The outcome of this was detailed vendor assessments against client requirements, including evaluation of costs and associated risks.
In developing the client’s target solution architecture, we compared ‘buy vs build’ options, providing supporting analysis. The result was a formal solution recommendation and delivery approach for each application.
Outcomes and Impact
In order to arrive at a formal solution recommendation, we provided:
• A detailed assessment of the client’s current in-house system and the feasibility of system development in order to meet their requirements
• A view of leading market software packages and an evaluation of their functional fit with the client’s requirements
• Identification of potential application architecture options with supporting analysis
• Clarification of risks associated with ‘buy vs build’ options, individual vendors and open questions where requirements were not yet fully defined
• Facilitation of commercial decision-making and a view of their long-term business and IT roadmap
• Insight into processes, organisation models and business policies which would have an impact on the IT strategy