Technology Enabled Transformation
Latitude Investment Management is a boutique investment firm based in the city of London. Despite posting strong results in its core investment business, the company struggled to effectively use technology to share and analyze information. The company's process for sharing and discussing stocks was inefficient, relying on WhatsApp as the primary means of communication. Additionally, the company had no way to consolidate its Excel based earnings forecasts or track how those forecasts changed over time.
The company knew that there was technology available that could improve their processes, but they were unsure of what to use or how to implement it. In order to address these challenges, Latitude Investment Management engaged Developex to review their current state and discuss potential solutions.
The first step in the process was to migrate all data to SharePoint in the cloud, which helped to improve collaboration and increase fault tolerance. The company also implemented Microsoft Teams to facilitate discussions about stocks and share analysis. However, it quickly became apparent that Excel alone was not sufficient for sharing and tracking the evolving forecasts of the company's five analysts, who were responsible for over 200 stocks.
To address this issue, Developex designed and built a database to store earnings forecasts that analysts could submit through Excel. This database was then used to generate numerous Power BI dashboards that could be shared across Teams and SharePoint, providing real-time data on how analysts' forecasts were changing on a daily basis.
The implementation of these technologies significantly improved Latitude's ability to share and analyze information, streamlining their processes and increasing efficiency. The company was able to more effectively track and consolidate its earnings forecasts, and management was able to access real-time data on how those forecasts were evolving. Overall, the technology solutions implemented by Developex greatly improved the company's ability to make informed investment decisions.
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