The HSBC Story: A Relationship Worth the Investment
- 30th April 2020
- Big Data & Advanced Analytics
- Peak Indicators
Any great relationship relies on a combination of time, patience, mutual respect, honesty and open communication. A personable approach and a touch of humour goes a long way too.
Peak Indicators long-standing relationship with global bank HSBC has all of this and more. Essentially, our team has become an extension to HSBC’s own operations.
HSBC & Peak Indicators - The Foundations
The relationship between our team at Peak Indicators and HSBC began way back in 2014. At this time, HSBC were in the process of developing an analytics platform to address their global HR reporting needs.
Since this platform needed to serve around 1,500 users, HSBC needed to find the right partner to work with them to help them achieve the following goals:
- Scaling up the platform
- Embedding the platform into the organisation, so that it would become the one source of truth for their HR data and reporting
- Moving away from the contractor model to a long-term, stable partnership
HSBC were looking for a more stable means to provide rapid delivery of information and wanted to ensure that HR business users were getting regular drops of reporting information; as well as new ways of visualising the data. HSBC also wanted to introduce agile methodology into their IT development.
Peak Indicators were seen as the natural fit to help them achieve this goal, since we have outstanding knowledge and leadership in the HR and BI reporting sectors.
Laying the Groundwork
Initially, a team of Peak Indicators’ Senior Architects were brought in to work alongside HSBC’s analytics team; to take the existing platform implementation and add new content to it. The chosen experts worked in conjunction with our ‘Hub’ approach, which enables us to build a flexible, stable service-based model.
Our job at this stage was to act as expert support for any business user queries, whilst continuing to introduce new content as HSBC went through extensive change programmes.
Since the initial stages, the joint forces of Peak Indicators and HSBC have gone from strength to strength. The requirements for the platform have also evolved alongside the relationship too, with HSBC recently completing a major transformation of their entire HR function.
This meant that what started as a project to support a 1,500 user base platform has since grown to a fully-hosted solution that:
- Has allowed HSBC to grow the total amount of platform users by 3,000%
- Is now considered the golden source of HR information for the HSBC business
Right throughout the evolution of the project, Peak Indicators have been there every step of the way to support HSBC.
Reflecting On the Partnership
Andrew Elston, Global Head of People Analytics Reporting & BI at HSBC, cites one of his proudest moments as being able to see the build of one virtual team; with Peak Indicators working alongside HSBC team members. He believes this relationship is ultimately a testament to how well Peak Indicators value their clients.
“Peak Indicators have been able to constantly find ways to innovate the platform and take it to places they hadn’t previously conceived.”
As a result of the excellent relationship we’ve built with HSBC, we now have the full trust of their team. This has been reflected in a 5-year services agreement, which will see HSBC get their own dedicated analytics team from Peak Indicators.
The long-standing partnership has also led to internal growth at Peak Indicators, which is allowing us to continue investing in young talent. This is evidenced by the success of our graduate scheme, which saw 6 more graduates join the business during 2018.
Looking Ahead - The Next Steps
HSBC and Peak Indicators are now looking forward to integrating advanced analytics and digital innovation concepts within the platform.
The long-standing nature of the working relationship built between the two companies has laid a strong foundation for the platform, which will now help us to achieve these new goals.
Contact Us to Find Out What We Could Help You Achieve
If you have needs in analytics, business intelligence or machine learning - no matter what your starting point is - the best place to start is with a sensible chat over a coffee with one of our team.
This will enable us to better explain how we can help you improve your company’s adoption of analytics, through areas including:
- Transforming your legacy reporting investments
- Implementing an agile development approach to deliver rapid value to your business
- Becoming more analytically mature
- Improving your predictive data capabilities
- Rapidly speeding up data analysis
- Allowing you to utilise your workforce more effectively