Rethinking our Finance Transformation Programme

02 Nov 2023

A decision has been made by the Programme Board not to proceed with the Finance Transformation Programme

The Finance Transformation Programme (FTP) recently undertook a complete re-plan as it became clear that the programme could not deliver to the previously approved cost and timeline. 

During that replan process, it was confirmed that taking the programme forward would require a minimum of two more years of work (to November 2025) at a significant additional cost. 

The decision to close FTP is based on a clear assessment of the estimated total cost and delivery risk compared to the expected benefits. The decision is based on: 

• The original objective to reduce the technical risk in our finance systems now looks different, with alternative support models available for a further time period to reduce this risk. 
• The original objective to provide better reporting tools and slicker processes to help colleagues has proven not to be possible as originally envisaged, reducing the expected benefits. 
• The complexity of the design and build work has been revealed as the project progressed, leading to rising costs and reducing benefits. 

The benefits due to be delivered by the programme are now not considered sufficient to justify the additional cost. Furthermore, we are not confident that the programme could successfully deliver its objectives within that two-year timetable and budget. 

There are now alternative options open to us, which we anticipate can be delivered much more easily and at significantly lower cost. 

Next steps and future solutions 

This is a big decision that we have not taken lightly. While the programme is closing, some elements of the work will continue – and there are also important lessons we can take into the future. 

We still need to move forward with a plan for upgrading our finance system: 

• It is not possible to just do nothing – there are remaining technical risks that we need to address.  
• We will look to do this as quickly as possible and at the lowest cost, while still building a foundation for future transformation work.  
• External assurance will be sought on both approach and outcomes. 
• We will also seek alternative ways to deliver the benefits that were intended to come from the programme. 

Supporting impacted colleagues  

Colleagues on FTP have all worked incredibly hard and we are grateful to every one of them for supporting the programme. There is no fault in their work or the effort they have put into the programme. 

This decision will impact colleagues working on the programme, as well as colleagues in the Directorate of Finance, IT and the Strategic Change Office. Colleagues in these teams have been briefed directly regarding the impact of this decision on the work they are currently involved with.  

Support is in place to help impacted colleagues through any change. 

Carol Prokopyszyn 

Chief Financial Officer and Sponsor of FTP