Kathryn Wetherell
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Transcript of Kathryn Wetherell
Westpac Banking Corporation Kathryn Wetherell
Case Study Summary
IM lessons from Westpac & St. George merger
Resulting ProjectsDocument Management System (DMS)Contract Management System (CMS)Resulting Benefits & Lessons Learned
IM Lessons from WBC & SGB mergerDMS: No standard process
for Legal and Secretariat (L&S) to manage documents .
CMS: No consistent use of systems or processes for recording storing and managing supplier contracts
Document Management System (DMS)Challenges Goals
No standard process for managing documents in L&S function.No consistency in file
namingNo central repository
for documentsNo consistency in
handling opinions/ precedents
Limited ability to search for and recall documents
Duplication of documents
Create standardised document storage system to enable faster & more reliable identification, retrieval and sharing of information across L&S function
Create standard processes, procedures and behaviours to ensure L&S teams handle documents and information in standardised way.
DMS Considerations
Approach
Different WBC entities on different platforms & using different software
Information Security
Chinese Walls. Some L&S areas confidential
Hard copy documents
Limited BudgetChange
Management
Different Systems to “talk” to one another
Testing & secure servers
Input from key L&S teams
DMS to include section for scanned documents
Work with current system as much as possible (sharepoint)
Training for L&S users showing benefits
E-discovery considerationsGenerally, WBC uses external
law firms for litigation. New DMS to have better
ability to search for required discovery information within L&S.
Other information comes from WBC business areas. (WBC records management team holds WBC business records.)
Contract Management SystemChallenges Goals
No consistent use of systems or processes for recording storing and managing supplier contracts
Compliance with WBC record management & reporting policies
Contract Management. Inability to effectively view negotiated benefits and manage supplier contracts.
Lost documents = unknown risks and financial commitments
St George contracts not visible
Implement group-wide CMS to provide single source of truth for contract information
Enable contract management lifecycle capability and reporting
Streamlined Operations Improved Stakeholder
Participation and Contract Governance
Better Risk Mitigation
Reduced Costs ID overlapping
contracts/suppliers contract renewal
reminders/trigger point dates noted
greater visibility of negotiated terms for other contract negotiations
CMS Considerations
Approach Information
Security. Chinese Walls . Limited Budget. Change
Management. Auditing what
current contracts exist & ensuring incorporation in new CMS
Security TestingInput from key
teamsRFP for third party
supplier Training for users
showing benefits Consultants to
conduct auditing activities
Ultimate Lessons Proactively Invest in Information
Management Systems Don’t underestimate IT implicationsGet input from relevant stakeholders Don’t forget importance of team
accountability for finished product Don’t underestimate change management
Ultimate BenefitsBenefits
More effective and efficient information management
Financial savings Lowered risk for WBC More effective services to internal WBC
business and ultimately WBC customers