What was the scope of their involvement?
Coding in Sequel, Waypoint Consulting developed a database and automated IT tool that allowed us to execute processes, generate results, and provide a solution that met set standards.
There is a large amount of historical credit loss data that needs to be brought into the process. Developing the processes to bring that data in and then generate the specific components of the expected credit loss calculation, and the actual calculation steps of bringing in relevant data on our asset positions, and then applying the credit loss calculation components to our data to then generate results.
Facilitating the project, they brought in subcontractors to ensure that specifications and policies were in accordance with the standards. Working with our internal IT team, they worked to develop the technical specifications and documentation.
What is the team composition?
Our project manager and director were our two key contacts. However, our IT team works closely alongside their developers as well.
How did you come to work with Waypoint Consulting?
When we started looking with service providers to partner with, Waypoint Consulting was able to demonstrate how they would meet our tight deadlines. Their ability to combine both their skill set and then also bring in the relevant subcontractors was very favorable. Compared to the alternatives, their price point was very good.
We felt really good about having them work alongside us throughout the process, and we were excited about being involved in their everyday development process. Having that intimate working relationship with them was a really big plus. Additionally, they are able to manage and maintain the database going forward.
How much have you invested with them?
The project itself has cost about $1.8 million, but we also spent about $250,000 on gap analysis.
What is the status of this engagement?
We began working together in June 2018, and the project is ongoing.