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