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Customer Reference - ANZ - Empire Project

H
Hannah Stevens

ANZ Banking Group sold its Esanda Dealer Finance assets to Macquarie Group for $8.2 billion. To complete the sale within six months as required by the agreement, ANZ engaged SMS to help migrate over 300,000 customer loan contracts and hundreds of dealer relationships from ANZ's systems to Macquarie Group's systems without impacting customers. SMS provided over 40 highly skilled resources to ANZ's dedicated project team to execute the completion, transition, and separation of the assets. The migration was successfully completed within the timeframe, with tens of millions of records transferred between the companies and receivables reconciled to less than $1 difference.

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ANZ TAPS INTO SMS SKILLS FOR MULTIBILLION-DOLLAR BUSINESS SALE MORE THAN 300 PEOPLE ACROSS THE BANK TOUCHED THE PROJECT AT SOME STAGE, WITH OVER 1,000 SYSTEM USERS. TENS OF MILLIONS OF RECORDS WERE TRANSFERRED FROM ANZ TO MACQUARIE GROUP ON A SINGLE MIGRATION WEEKEND A TRANSFER WITH A RECEIVABLES VALUE IN EXCESS OF $6 BILLION WAS RECONCILED BETWEEN ANZ AND MACQUARIE TO LESS THAN A DOLLAR! INTEGRATION SEPARATION After agreeing an $8.2 billion deal with Macquarie Group in October 2015, migration had to be completed in six months. Esanda was heavily integrated into ANZs processes and systems. TRANSITIONING OUT WITH SMS ANZ engaged SMS to provide a range of experienced and skilled resources to work with ANZs dedicated project team which was charged with executing the completion, transition and separation (CTS) of the assets to Macquarie. A SUCCESSFUL MIGRATION Over 300,000 customer loan contracts, and hundreds of dealer relationships and loan facilities were migrated without impacting customers or business operations. ANZ Banking Group Limited (ANZ) decided to sell its Esanda Dealer Finance assets which it had operated for over 50 years, and conducted a sale process in mid-2015. A CORE PROJECT TEAM OF 40 PEOPLE INCLUDED SMS ANALYSTS AND CONSULTANTS. www.smsmt.com SMS provided lots of highly skilled resources and they were always flexible, they were involved in early analysis activities six months before the deal was signed, so theyd built up a great deal of knowledge from doing business analysis that was invaluable when we moved into execution and delivery. Trevor Barr, Project Director, ANZ The quality, skills and commitment of the SMS staff was outstanding, and their ability to integrate very quickly with the project team as the wider ANZ stakeholder group was a key factor in us achieving all of our key success criteria. David Hannah, Executive Head of Project, ANZ FACTS & FIGURES
www.smsmt.com BACKGROUND Following a tender process in mid-2015 ANZ entered into an agreement to sell Esanda to Macquarie Group for $8.2 billion in early October 2015. The sale agreement stipulated that the hundreds of car dealers and over 300,000 customer loan contracts needed to be migrated in a little over six months. This was a hugely challenging timeframe because Esandas systems and processes were heavily integrated into the Bank. This made it much more complex than divesting a standalone subsidiary. A project of this scale would normally take twelve months or more to complete so everybody involved in the process needed to focus on moving as quickly as possible. TEAM BUILDING Although this wasnt a technology-based project, it required deep analytical and project management skills from pre-sales all the way through to final contract migration. A core team of more than 40 people included SMS analysts and consultants, the ANZ project team, legal, operations, IT and contractors. In addition, a very large number of ANZ and Esanda staff members involved in the project had to manage their input alongside regular duties. Beyond the core team, more than 300 people across the bank touched the project at some point. More than 1,000 of ANZs back office, administration, call centre, finance and legal staff across Australia, India and the Philippines were using the Esanda systems. RAPID DELIVERY Every wall in the project team area was covered in Post-It notes, which helped to foster a sense of agility. Regular stand-ups were used to keep everybody up-to-date with progress, while project formalities were kept to a minimum. Workshops were used to gather and analyse vast amounts of business information, with run sheets managing and recording the migration of dealerships. Governance requirements were handled quietly in the background to keep the delivery teams focused on the task at hand. WRAPPING UP All 300,000+ customer contracts were migrated less than seven months after the agreement was signed. Tens of millions of records were transferred from ANZ to Macquarie Group on a single migration weekend; a transfer with a receivables value in excess of $6 billion was reconciled between ANZ and Macquarie to less than a dollar! Despite the tight timeframe for a project of this size, SMS was able to help ANZ meet its legal obligations and deliver on its contractual commitments to Macquarie Group. Business impact was minimised and, most importantly, it was a seamless experience for hundreds of thousands of customers as well as Esandas hundreds of dealers. ABOUT SMS A leader in advisory, solutions and managed services, SMS cultivates innovation, digital, mobile and design-led business and technology capability to empower organisations across all industry sectors. With over 1600 staff across Asia Pacific, SMS promotes and delivers next-generation customer-centric outcomes for their clients.

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Customer Reference - ANZ - Empire Project

  • 1. ANZ TAPS INTO SMS SKILLS FOR MULTIBILLION-DOLLAR BUSINESS SALE MORE THAN 300 PEOPLE ACROSS THE BANK TOUCHED THE PROJECT AT SOME STAGE, WITH OVER 1,000 SYSTEM USERS. TENS OF MILLIONS OF RECORDS WERE TRANSFERRED FROM ANZ TO MACQUARIE GROUP ON A SINGLE MIGRATION WEEKEND A TRANSFER WITH A RECEIVABLES VALUE IN EXCESS OF $6 BILLION WAS RECONCILED BETWEEN ANZ AND MACQUARIE TO LESS THAN A DOLLAR! INTEGRATION SEPARATION After agreeing an $8.2 billion deal with Macquarie Group in October 2015, migration had to be completed in six months. Esanda was heavily integrated into ANZs processes and systems. TRANSITIONING OUT WITH SMS ANZ engaged SMS to provide a range of experienced and skilled resources to work with ANZs dedicated project team which was charged with executing the completion, transition and separation (CTS) of the assets to Macquarie. A SUCCESSFUL MIGRATION Over 300,000 customer loan contracts, and hundreds of dealer relationships and loan facilities were migrated without impacting customers or business operations. ANZ Banking Group Limited (ANZ) decided to sell its Esanda Dealer Finance assets which it had operated for over 50 years, and conducted a sale process in mid-2015. A CORE PROJECT TEAM OF 40 PEOPLE INCLUDED SMS ANALYSTS AND CONSULTANTS. www.smsmt.com SMS provided lots of highly skilled resources and they were always flexible, they were involved in early analysis activities six months before the deal was signed, so theyd built up a great deal of knowledge from doing business analysis that was invaluable when we moved into execution and delivery. Trevor Barr, Project Director, ANZ The quality, skills and commitment of the SMS staff was outstanding, and their ability to integrate very quickly with the project team as the wider ANZ stakeholder group was a key factor in us achieving all of our key success criteria. David Hannah, Executive Head of Project, ANZ FACTS & FIGURES
  • 2. www.smsmt.com BACKGROUND Following a tender process in mid-2015 ANZ entered into an agreement to sell Esanda to Macquarie Group for $8.2 billion in early October 2015. The sale agreement stipulated that the hundreds of car dealers and over 300,000 customer loan contracts needed to be migrated in a little over six months. This was a hugely challenging timeframe because Esandas systems and processes were heavily integrated into the Bank. This made it much more complex than divesting a standalone subsidiary. A project of this scale would normally take twelve months or more to complete so everybody involved in the process needed to focus on moving as quickly as possible. TEAM BUILDING Although this wasnt a technology-based project, it required deep analytical and project management skills from pre-sales all the way through to final contract migration. A core team of more than 40 people included SMS analysts and consultants, the ANZ project team, legal, operations, IT and contractors. In addition, a very large number of ANZ and Esanda staff members involved in the project had to manage their input alongside regular duties. Beyond the core team, more than 300 people across the bank touched the project at some point. More than 1,000 of ANZs back office, administration, call centre, finance and legal staff across Australia, India and the Philippines were using the Esanda systems. RAPID DELIVERY Every wall in the project team area was covered in Post-It notes, which helped to foster a sense of agility. Regular stand-ups were used to keep everybody up-to-date with progress, while project formalities were kept to a minimum. Workshops were used to gather and analyse vast amounts of business information, with run sheets managing and recording the migration of dealerships. Governance requirements were handled quietly in the background to keep the delivery teams focused on the task at hand. WRAPPING UP All 300,000+ customer contracts were migrated less than seven months after the agreement was signed. Tens of millions of records were transferred from ANZ to Macquarie Group on a single migration weekend; a transfer with a receivables value in excess of $6 billion was reconciled between ANZ and Macquarie to less than a dollar! Despite the tight timeframe for a project of this size, SMS was able to help ANZ meet its legal obligations and deliver on its contractual commitments to Macquarie Group. Business impact was minimised and, most importantly, it was a seamless experience for hundreds of thousands of customers as well as Esandas hundreds of dealers. ABOUT SMS A leader in advisory, solutions and managed services, SMS cultivates innovation, digital, mobile and design-led business and technology capability to empower organisations across all industry sectors. With over 1600 staff across Asia Pacific, SMS promotes and delivers next-generation customer-centric outcomes for their clients.