When an organization is considering the implementation of a new technology, they want to identify the benefits before making a large investment. Therefore, running a pilot program is extremely important as it allows an organization to test the solution on a small scale and decide if the initiative suits their needs. Keep in mind, a pilot is different than a proof of concept (POC) but more on that another day. Anyway,
Big data is a pretty popular buzzword in the tech space these days. And while it has well established implications for marketing, product development and client retention, financial services organizations are also looking at big data to support core business functions related to asset and trade management, risk management, regulatory compliance and information security. In a world where data is growing by exabytes per year, financial services organizations that leverage
Most OTC derivatives applications used by financial institutions around the world share the same characteristics. Third party data collection, trade position calculation and audit trails are common features. Yet, they lack transparency and real time information. Obtaining reports and data frequently require the participation of technologists, reducing efficiency and transparency, and increasing costs. While these systems are significant improvements over the old Excel spreadsheet days, they are insufficient for today’s marketplace.
Companies in the highly competitive manufacturing sector need to find points of operational advantage in all business endeavors, including on the shop floor. Computer-aided Manufacturing (CAM) – the use of computerized systems to control machining operations – is a frequently implemented improvement. By utilizing software applications that define batched, predefined manufacturing configurations, companies are able to improve reliability, reduce errors and execute projects more easily. Use of automated processes in
Like all industries, the manufacturing sector is in the midst of a technological revolution. From the cloud to automation to big data, recent advancements in information technology are helping manufacturing companies improve their plant productivity, their customer relations and their bottom line. Yet, technology encompasses a lot of ground. Some up and coming trends have true capacity to change the shop floor. Others are less helpful. That said, over
One of the primary business drivers for enterprises migrating to the web is cost savings. Generally speaking, cloud migrations have the potential to reduce allocations related to staffing, security and infrastructure. However, that doesn’t mean that migrations are cost free. Regardless of the move towards the cloud, there are real costs that need to be included in migration budgets. According to Forrester, customer facing applications – or so called systems
The cloud is becoming an increasingly popular way for companies across all industries to reduce costs related to their IT infrastructure. By embracing the cloud, companies are able to reduce technology infrastructure costs, innovate more rapidly and engage in more responsive client relationships. However, operating in the cloud requires a different approach to monitoring and optimization. Why Monitoring Must Change In the past, applications often ran on specific hardware, physically
In order to protect consumer and institutional assets, the financial services industry is heavily regulated across state, federal and international agencies. Significant requirements exist when it comes to protection of financial data. Therefore, while identity & access management is of critical importance across all industries, this is particularly true in the financial services arena. Identity & Access Management (IAM) involves ensuring that the right individuals have access to the right
These days, many businesses are investigating the cloud. However, until recently banking, financial services and insurance companies weren’t among them. In the past, banks, asset management firms and other players in the BFSI ecosystem were reluctant to consider cloud environments, citing privacy concerns, security fears, regulatory requirements and the complexity of integrating internal and third party legacy systems. However, over the past few years, banks are revisiting their prior conclusions.
Although not presently in widespread use, blockchain has great potential to transform transaction processing across the economy – particularly for participants in the banking, financial services and retail sector. The largest and most famous blockchain in use today is Bitcoin. But for many businesses a private or a public / private hybrid using blockchain promises to improve business operations. Blockchain is a transparent, electronic ledger in which transactions are recorded,