One changed sentence, seven documents that contain it.
The requirement comes from sales, the condition from legal, the figures from the core banking system. The product sheet, terms overview, training material and the paper for the new product approval process are written in parallel, each by a different person. If a time limit changes during coordination, it gets missed in one of the documents and only comes to light in the approval round.
7documents per productProduct sheet, terms, training material, approval paper and three annexes.
5rounds of coordinationLegal, sales, regulatory reporting, IT and product approval see the draft one after another.
3changes per roundUsually time limits, fees or the target group.
2 weeksdelay before launchIf a missed change only comes to light at committee, the round starts again.
The specialist department finds its requirement in every one of the seven documents instead of missing it at committee, and the product reaches the market 35% faster.
The 35% faster product launch is this agent's headline figure. The five rounds of coordination and the two-week delay before launch reflect a typical path through the new product approval process; they are not measured values.