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Case study: How can we strengthen the pulse of the Swiss financial centre?

Securing system migration and creating transparency

Challenge

SIX Group is a provider of infrastructure services to national and international players in the Swiss financial marketplace. The company’s fields of business include securities trading, securities services, financial information, and payment transactions.

Delay in the schedule

SIX Group had planned a group-wide migration to a new accounting system. However, it was not possible to adhere to the original schedule. In addition, the management was in urgent need of relevant information that would enable it to assess the project and make the right decisions.

Support with implementation

The task of migrating to a new system and integrating that system into a company’s daily business environment is anything but routine, and the demands on all concerned are high. In order to avoid further delays, to safeguard the implementation process and to maintain an external view of the big picture, CEO Urs Rüegsegger turned to PwC who, without further ado, put together a taskforce.

PwC's team did a great job during system migration. The key information was prepared in such a way that it was no problem for our management to categorise it and use it for decision-making.

Urs Rüegsegger, CEO SIX Group

Solution

PwC’s speed and responsiveness were key to the assignment from the outset. In order to push ahead with the solution, a joint team comprising members from SIX Group and PwC worked virtually around the clock. In order to meet the constantly changing requirements, other specialists joined the team as required.

Resolving the bottlenecks

In order to remove any obstacles as quickly as possible, the PwC team started by analysing the issues in detail and dividing them into individual problem areas. In particular, they assessed the processes in the finance department and highlighted areas for improvement. As well as providing a basis for management decision making, this procedure also paved the way for accounting specialists to integrate the new system smoothly into daily operations.

Intensive exchange of information

The willingness of all involved to communicate freely, coupled with the commitment shown by SIX Group’s staff contributed to the success of the project as a whole. Each week, the team from PwC met up with SIX Group’s management to discuss the state of play and define the next steps. Intensive, regular exchange of information helped speed up response times and minimise delay.

Motivated staff

The successful implementation was largely due to the support of the employees, who quickly got to grips with the new system. For this reason, the PwC team put emphasis on getting staff actively involved in the process. Staff training and comprehensive documentation have led to sustainable improvements in the company’s financial processes.

Result

Despite the challenge of high complexity and a tight schedule, SIX Group was able to migrate safely and securely to its new accounting system. The working relationship with PwC’s team was quickly established and intensified over the course of the project. This was not only a decisive factor for the success of the project, but it will also prove to be a valuable asset for the future.

Immediate reinforcements

Because PwC was able to provide SIX Group with an experienced team straight away, the problem was resolved faster than it would have been either with an in-house solution or with external providers, who have neither PwC’s range of services nor its network of experts. In particular, this allowed critical problem areas to be identified early and managed effectively.

High degree of project security

Ultimately, SIX Group was able to get its new system up and running safely, securely and with minimal project risk. For those involved in the project, the steps leading to implementation were clear and comprehensible at all times. Regular communication conducted in a spirit of close cooperation between SIX Group and PwC at all levels meant that the solution could be dovetailed with project needs and requirements. The intensive exchange of information has further reinforced the spirit of mutual trust, and future projects only stand to benefit from it.

Contacts

Wolfgang Rieder

Partner and Advisory Services Leader, Zurich, PwC Switzerland

+41 58 792 44 41

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