THE CLIENT & THE INITIATIVE

In January 2023, Firewood were engaged by the London Stock Exchange Group (LSEG) to manage the technical delivery of a new e-commerce platform. LSEG is a leading global financial markets infrastructure and data provider, serving customers in over 190 countries. They own the London Stock Exchange, one of the world’s oldest stock exchanges, as well as Refinitiv, a major financial data and analytics company. The e-commerce programme was a strategic initiative planned as part of the merger between LSEG and Refinitiv.

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The programme’s key objective was to deliver an online self-service sales platform that improves the digital customer experience for purchasing, using and renewing LSEG data products. The main goals of the programme were to:

• Improve customer experience with an intuitive digital solution that caters to a diverse customer base from property agents to legal professionals.

• Address the needs of both new customer acquisitions and existing managed accounts across developed and emerging markets.

• Automate smaller value deals to reduce the strain on sales teams who could refocus their attention on higher value or more complex deals.

 

OUR ROLE

The e-commerce programme’s business case was already in place when Firewood was engaged to partner on the programme in 2023. Given the scale and complexity of the initiative, LSEG recognised the need for a project management partner to oversee the programme’s technical delivery. Building on the success of previous collaborations, LSEG selected Firewood to lead the programme’s delivery.

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A specialist Firewood programme team, consisting of a Programme Manager, Scrum Master, Test Manager, Business Analyst, and Business Architect, was established to ensure the successful execution of the new platform. The team managed multiple external partners including Big 4 consultancies and global IT service providers alongside internal LSEG teams, ensuring seamless collaboration across LSEG’s complex organisational landscape.

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Firewood were responsible for the end-to-end technical delivery, from gathering requirements and leading scrum teams, to developing and implementing testing strategies. We ensured that every aspect of the programme was delivered on time, within budget, and to a high standard.

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Beyond technical delivery, Firewood were integral in maximising the platform’s long-term value to customers. Collaborating closely with LSEG product managers and developers, the Firewood team identified and prioritised key product features and enhancements based on customer needs. We also worked alongside marketing teams to develop and implement targeted promotional strategies to ensure strong platform adoption and use post-launch.

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Firewood were also tasked with developing and implementing a new Target Operating Model (TOM) focused on digital transformation and customer experience which would address the gaps and inefficiencies within the current operating model. This included assessing and recommending appropriate technologies and tools that would best support the programme’s objectives. 

 

KEY BENEFITS DELIVERED

To deliver the e-commerce programme, the Firewood team navigated LSEG’s highly complex technical environment. This involved working alongisde multiple high-priority programmes running simultaneously. Additionally, the programme’s development teams were distributed across multiple vendors and locations with varying ways of working. A key aspect of Firewood’s role was encouraging open communication and collaboration between all partners. Using agile methods, the Firewood team effectively aligned traditionally siloed teams.

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Under Firewood’s management, the programme successfully delivered:

• A working version of LSEG's 'Workspace for Wealth' platform by August 2023, initially available to new customers in the UK and USA.

• Expansion to 15 new regions within four months (by December 2023).

• Additional products and a trial feature in the first half of 2024.

• Plans for further expansion to more products, regions and clients.

 

LESSONS LEARNED

Firewood successfully delivered the e-commerce programme at LSEG demonstrating our expertise in managing complex digital transformation initiatives. By overseeing technical delivery and fostering effective collaboration across teams, Firewood ensured the programme met its strategic objectives. The successful platform launch and its expansion to additional geographies highlight the effectiveness of our approach. Our team continues to lend their subject matter expertise to benefit the programme and the broader organisation, enabling a greater use of best practice project methodology across LSEG.

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Key factors driving the programme’s success were:

• Strategic alignment: The initiative was tightly integrated with LSEG's broader merger strategy, highlighting the importance of aligning digital projects with overall business goals.

• Collaborative approach: Effective coordination between multiple vendors and internal teams was critical in overcoming challenges within this complex, multi-region environment.

• Agile methods: Using agile approaches enabled steady progress and adaptability, essential for managing high-priority initiatives in a dynamic technical landscape.