Categories
Case studies

Technology & Securities Accounting Risk Management

Financial management institutions seek to maximize profits and minimize risk. For institutional entities in banking and finance, a strong securities accounting system plays a critical role in ensuring that all parties to a transaction are properly informed, collateralized and protected from costly errors that decrease trade completion, increase risk of penalties and otherwise inhibit the smooth transaction processing necessary for success in today’s fast paced business environment.

There are several non-market risk factors frequently encountered by companies engaged in institutional securities management:

Risk 1: Trade Entry Errors

Frequently, disagreements between trade parties result from errors as simple as mistakenly entered terms or added extra zeros. Risk of erroneous data entry is particularly high when trade terms change several times over a short period of time.

Yet, simple as these errors are, they often go undiscovered until time of settlement. When payment expectations – either out or in – are not in alignment, discovering the root cause of the discrepancy… which could date back several weeks… wastes precious time and labor resources.

Risk 2: Disparate Valuation & Reconciliation Expectations

Valuation is of critical importance in maintaining the integrity of securities trades. Yet, manual entry of trade value calculations can lead to parties having different expectations of returns or outflows over a given period in time.

Discrepancies can result from calculation errors resulting from either mistakenly entered formulae or use of inconsistent pricing data.

Risk 3: Counterparty Risk Exposure

How stable are your transaction partners? How likely are they to complete their end of the transaction? Are their securities maintaining their valuation? Are the assets they pledged as collateral sufficient to mitigate risk, or is further collateralization required? The stability and reliability of trade partners plays a big role in deciding whether to see trades through to completion, or if environmental factors require compromising profit for risk minimization.

Risk 4: Collateralization

Similar to counterparty risk exposure, trade collateralization helps reassure trade partners that agreements are likely to complete, and serve as reassurance against counterparty default. Yet, collateral is only as good as its availability. If collateral is pledged multiple times against various trades, risk mitigation is severely decreased or eliminated altogether.

Failure to adequately collateralize trades weakens not only relations between trade partners, but also the market environment as a whole.

Risk 5: Reporting compliance

While not as high profile as the other risks, failure to report trade valuations increases operational costs. Required by exchanges and governmental regulations, inability to submit valuation of trade activities by mandated deadlines leads to the imposition of fines and penalties, and development of a poor reputation. Yet, each of the other four risks, if unaccounted for, increases the likelihood of missed reporting timeframes. Failure to report accurately and on time leads to expenses that can undercut profitability in a highly competitive environment.

Technology For Risk Mitigation in BFSI

Technology based solutions provide the opportunity to mitigate each of the above mentioned five risks, as well as many others. By combining trade documentation, trade details, 3rd party valuation data, standardized pricing calculations and asset tracking, along with internal and external reporting capabilities, customer account access and audit management, a technology based solution has the opportunity to mitigate both non-trade and trade based risk.

Mitigating Valuation Risk

For example, by integrating 3rd party valuation services and publishing daily position calculation reports, both party and counterparty are notified of anticipated payments over various timeframes, given a particular date and timestamp. This provides both parties, not only with common data from which to make educated decisions regarding trade status and future action, but also the opportunity to recognize disparities. By fixing valuation disparities closer in time to trade origination, organizations prevent payment processing delays and ensure that errors don’t follow forward for significant periods of time.

Moreover, by allowing for the storage of trade documents within the transaction management system, origination documentation can be accessed and evaluated by both parties in near real time, preventing delays related to search efforts caused by inefficient, unshared data management protocols. Unlike document retention facilitated by email and fax, in this system, both parties are assured of looking at the most recent document available, with the same terms and conditions.

Additionally, discovering the source of errors through auditing capabilities… be it clerical, technical or structural… allows for the prevention of future errors, enhancing future productivity and profitability.

This combination of technology fixes to the traditional trade management environment has the potential to reduce discrepancies and resulting delays from 40% to 3 – 4%, while additionally increasing the speed of valuation resolution.

Mitigating Counterparty Risk

Technology can similarly level the playing field between parties, ensuring that counterparty risk is sufficient to ensure comparable exposure for both parties. Real time collateral validation ensures that particular assets haven’t been pledged multiple times for different transactions, and counterparty credit information helps determine whether a true meeting of the minds is possible between parties.

By making these assessments part of an integrated system, rather than parsing them out to another team with different timeframes, priorities and frameworks, transaction time assessments are possible, ensuring that deals are secure at their inception. Further, continuous monitoring – and reporting – of details including collateralization, financial position and stability allow for real time decisions about trading profitability for risk optimization, should conditions surrounding the original trade change.

Technology As Equalizer

The days of managing financial transactions using Excel spreadsheets, email and shared drives is over. Increasing speed of business, smaller opportunities for error and globalization require securities management to look to financial technology to control risks to the greatest extent possible.

By merging multiple disparate, but overlapping functions in one system, deal makers on both sides of a transaction have increased transparency, risk mitigation and business opportunity. A strong securities management system helps control both operational and market factors, promoting business security, reliability and profitability.

Today, financial technology for securities asset trade management is a must. Is your organization ready?

Contact SRI Infotech to learn more about how we can help you improve your financial trade operations today.

Categories
Case studies

WebRTC: Efficiency, Loyalty & Flexibility

Over the past few years, WebRTC – or web real time communications – has started to gain traction in both business and technology environments. For the first time, companies can enable in-browser or in-application communications – from chat to voice to video to document exchange, directly in the browser, without the need for additional downloads, plugins or other barriers to fast and seamless interactions.

WebRTC is a game-changer when it comes to customer service, providing a seamless experience for the customer at the very time and in the very manner in which they dictate. Because it enables contextual continuity through various escalation levels, WebRTC focuses on customer satisfaction by valuing their time as well as their preferred method for engagement.

Additionally, WebRTC merges together sometimes disparate back end communications systems, allowing for greater enterprise efficiency and cost savings, as well as better customer engagement. By enabling single authentication and communications continuity between service levels, customers often feel better heard, which fosters brand loyalty.

SRI Infotech has worked on several projects related to WebRTC, and has first hand experience in seeing how this relatively new technology can assist your business in it’s daily operaons.

Case Study 1: Automobile Insurance Provider

Recently, SRI Infotech was asked to help a large automotive insurance provider build a mobile device for submission of automobile accident claims. The end user application not only allows the customer to open and submit a claim from a mobile device, but also to collect photographic evidence related to the claim.

When the driver is ready, he or she can then connect via mobile with an insurance agent in real time to review claims details.

After the connetion is initiated by the customer, the insurance agent is able to interact with the customer in real time via chat, voice or video. Additionally, the agent has the ability to take control of the camera so as to take photos which better optimize the evidence necessary for evaluating the claim.

Evidence collected through the app is stored to the cloud and affiliated with the claim number, providing a consolidated repository of all information necessary for making informed coverage decisions. The collection of all information allows for the processing of claims in hours rather than days.

Case Study 2: Technology Manufacturer & Support

Additionally, SRI Infotech worked with a large, international technology manufacturer and servicer to assist in development of a WebRTC based support infrastructure. The goal of the project – still in the proof of concept stage – better facilitates onsite support by connecting the “person on the ground” with specialists in the corporate support center.

The system provides both offline ticket creation and documentation, as well as streamlined, real time communications between support staff in different locations. As a result, issues can be tracked, escalated and managed in a more timely manner. Photos of error codes and videos of faulty functionality provide out-of-office support staff with a greater level of detail with which to troubleshoot the problem. Moreover, by using photographs of equipment serial numbers and sku barcodes, problem attribution can be accurately tracked to particular pieces of equipment and locations.

Overall, this system enables faster resolution rates for tickets that can be resolved same day, on site, as well as the opportunity to order replacement parts or equipment in real time if fixes require more complicated methods.

Conclusion

By providing cost effective, flexibility through the browser or an application, WebRTC has the potential to streamline customer support and service operations. Moreover, by easing interactions with clients on their time, under their preferred communication method and by providing a , WebRTC strengthens customer loyalty. Businesses in all industries need to embrace WebRTC as part of their initiative to remain effective and competitive in today’s high stakes environment.

Is your company ready for a WebRTC initiative? Contact us today to learn more.

Categories
Case studies

Maximizing Cost Savings In The Cloud

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 of engagement – are the easiest to move to the cloud. These applications are generally developed with new code bases, and utilize more modern infrastructures, paradigms and languages. Because they are more modern, and are developed for the web and mobile, they are inherently easier to migrate to the cloud when necessary.

Moreover, because engagement applications are often tied to marketing and consumer retention strategy, they are increasingly developed in the cloud from the beginning. By developing in the cloud, companies are able to capitalize on reduced development time, iterative testing and upgrades and faster rollouts. For these applications, the cloud works because speed is of the essence. With native cloud development, migration costs are negated, while revenue streams potential increase on release.

Migrating Enterprise Applications

The real challenge for migration goals can be found in migration of legacy tools. These mission critical applications usually have to comply with strict security, administration, privacy, maintenance and uptime requirements. According to Forrester, they are frequently “old and either completely or substantially custom-built.” As a result, they often require “substantial revision to achieve cloud’s primary benefits—on-demand scaling, pay-for-what-you-use economics, global availability, and high security.”

It’s this redevelopment of legacy applications – by developers familiar with both the cloud and the application itself – that accounts for the greatest expense in cloud migrations. As detailed in the report, “[L]abor costs dwarf infrastructure and platform services costs in most of the migration projects we’ve reviewed.” Once all necessary team members are accounted for – the strategists, developers, project managers, and compliance and risk analysts – labor costs often exceed 50% of total migration costs.

Managing Migration Costs

Given the significant up front labor costs associated with migration of legacy applications, some question whether they should be attempted at all. Should cloud migrations only occur when existing infrastructure upgrades are imminent?

Not necessarily. Waiting for an perfectly opportune time to upgrade ignores the future cost savings… including of labor… that cloud migrations enable.

Upon completion of cloud migrations, labor costs often diminish significantly. Among global enterprises, approximately 67% of the IT budget is spent on labor for application development and maintenance, hosting, security and end user support. These costs can be significantly reduced if not eliminated after migrating to the cloud. In a typical scenario, person to server ratios improve from 1:5 to 1:10 or even 1:15.

When combined with subsequent cost reductions pertaining to infrastructure, physical plant, utilities, agility and capital expenditures, cloud migration projects are still likely to result in significant return on investment.

Go Global

That said, smart institutions want to reduce costs as much as possible from the get go.

To further reduce migration costs, organizations should consider enterprise migration planning. By establishing an enterprise migration initiative, and creating interdisciplinary teams that specialize in migration planning and implementation, organizations develop clear visions for migration goals, establish governance models that define roles and responsibilities within and across teams and define performance benchmarks. Centralizing business, oversight and technical expertise in one team ultimately results avoidance of duplication of work, and savings through economies of scale.

With an enterprise strategy, migration planning and processing becomes more predictable, more time effective and less labor intensive with each subsequent project. By using knowledge gained in one project to inform another, organizations can develop migration plans that capitalize on existing experience and identify potential pitfalls more readily.

Conclusion

Labor costs are significant factors in determining return on investment for cloud migrations. While they, do decline over subsequent projects as teams become more familiar with migration protocols, they needs to be accurately accounted for during the planning phase.

Categories
Case studies

Manufacturing Efficiency Through Technology

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 manufacturing enables delivery of products to market within shorter time-frames, leading to greater business opportunities, reduced costs and heightened profitability.

Case Study Background

Our client is an industry-leading manufacturer of components sold to Original Equipment Manufacturers (OEMs) in the building products industry. In their daily operations, floor operators use tiger saws to make precise cuts for the creation of window and door frames.

Although they had been utilizing a home grown system to facilitate job management, it required significant manual configuration for each job, thus increasing time to completion and cost. They sought to improve their cutting quality accuracy, reduce mistakes and product waste, and enhance overall productivity and efficiency with an updated infrastructure.

SRI Infotech worked with the client to help develop a state of the art computer aided manufacturing system, built on ASP.Net. The user interfaces – from the shop floor to the management suite – utilize Microsoft Windows workstations.

Details and operations

The developed system is divided into 4 hierarchical components, based on user access and functionality.

Floor operators utilize the software in the day to day course of operations. Managers & reviewers establish critical settings and define configurations. System administrators not only determine settings and configurations, but also have access to overall data, and the ability to set user permissions.

Each saw within the plant is connected to local web services. Particular attention was paid to developing an intuitive user interface, allowing floor operators to initiate the production sequence by selecting the job checkbox. Job details – previously entered into the system by the system administrator – including material length, cut angle and other technical specifications – are then sent to the particular saw through web services, initiating the production process. Operators additionally have the ability to cancel or pause individual jobs as necessary.

Big Data

In addition to sending instructions out, the bidirectional system also collects information about the order, including status, length of operation and completion.

Jobs data is subsequently collected in a central Oracle MS SQL database, and is used in various business processes, including, quality control, operational efficiency calculations, alerts, business intelligence and accounting. Each job is subsequently archived as well.

Access to aggregated project data enabled to the client to gain insight into prevailing market trends, enabling quicker strategy changes for better profitability. Additionally, by conducting meta-analyses of previously siloed data, the client was able to recognize opportunities for improved efficiency across seemingly disparate operations to reduce costs.

Results

By investing in computer aided manufacturing, SRI Infotech’s client was able to improve reliability, reduce errors and execute projects more easily. Moreover, the client was able to collect data pertaining to market demand, allowing them to better capitalize on business opportunities in shorter timeframes.

As a result of embracing new technologically aided manufacturing processes, the client saw improved production, profitability and future potential.

If your company is interested in learning how they can use technology to maximize their earning potential, please contact SRI Infotech today.

Categories
Case studies

OTC Derivatives Self-Service

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.

Our client, a global custodial bank and financial institution, sought to improve their back office operations with improved software that met their business needs in an increasingly competitive business landscape.

Project Goals

The primary goal of this project was to develop self-service modules for employees in the following departments related to OTC derivatives trade: pricing, accounting, corporate action, trade directives and information delivery. Prior to the development of this self-service system, and as recently as 2 or 3 years ago, traders relied on developers to run reports related to trade position, as well as to fix trades that were either erroneously entered or that lacked requisite information due to lags in price feed transmission.

About The Technology – Pricing & Accounting

The OTC self-service system allows business end users to log into the accounting center and upload not only trade details, but their own prices for trades when 3rd party vendor valuations are either incorrect or delayed. Subsequent to trade entry, the pricing system automatically coordinates with the accounting function to ensure proper payment and collection data.

Moreover, authorized traders are also able to run position reports, not only at the trade level, but also at the lot and leg level. This capability provides granular data about who is trading specific securities, aggregated payor and payee data and fix and float information across the enterprise. The availability of enterprise-wide data protects the client against over-leverage scenarios.

By creating these trade related self service capabilities, end users gained increased independence to obtain the information when and how they needed it, while the client avoided repetitive development costs.

About The Technology – Information Delivery

After trade completion, the priority switched to trade directives, trade position, and risk analysis and management. To help facilitate improved transparency, SRI Infotech developed an all in one data sheet pertaining to trades, trade parties and ownership position.

Additionally, to improve information delivery to both internal and external stakeholders, SRI Infotech developed an additional self-service automated report delivery module. After a one time setup in which business end users define the client, the funds and other information, customized data is automatically delivered directly to internal and external stakeholders through a secure FTP protocol. As a result, authorized business users can customize data obtained from over 6,000 extracts to ensure that they receive only that information they need at the exact time they need it.

Permissions for different data streams are defined by senior management on a client by client basis to ensure adherence to conflict avoidance rules and regulations.

Conclusion

Through the use of automation and self-service applications, SRI Infotech assisted the client in empowering its traders to work more independently and efficiently, while simultaneously improving transparency and cutting development costs and institutional risk. In the highly competitive OTC derivatives market, this provided the client with a significant competitive advantage.

Let SRI Infotech help you maximize productivity on your trading floor. Contact us today and learn more.

Categories
Case studies

OTC Derivatives Self-Service

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.

Our client, a global custodial bank and financial institution, sought to improve their back office operations with improved software that met their business needs in an increasingly competitive business landscape.

Project Goals

The primary goal of this project was to develop self-service modules for employees in the following departments related to OTC derivatives trade: pricing, accounting, corporate action, trade directives and information delivery. Prior to the development of this self-service system, and as recently as 2 or 3 years ago, traders relied on developers to run reports related to trade position, as well as to fix trades that were either erroneously entered or that lacked requisite information due to lags in price feed transmission.

About The Technology – Pricing & Accounting

The OTC self-service system allows business end users to log into the accounting center and upload not only trade details, but their own prices for trades when 3rd party vendor valuations are either incorrect or delayed. Subsequent to trade entry, the pricing system automatically coordinates with the accounting function to ensure proper payment and collection data.

Moreover, authorized traders are also able to run position reports, not only at the trade level, but also at the lot and leg level. This capability provides granular data about who is trading specific securities, aggregated payor and payee data and fix and float information across the enterprise. The availability of enterprise-wide data protects the client against over-leverage scenarios.

By creating these trade related self service capabilities, end users gained increased independence to obtain the information when and how they needed it, while the client avoided repetitive development costs.

About The Technology – Information Delivery

After trade completion, the priority switched to trade directives, trade position, and risk analysis and management. To help facilitate improved transparency, SRI Infotech developed an all in one data sheet pertaining to trades, trade parties and ownership position.

Additionally, to improve information delivery to both internal and external stakeholders, SRI Infotech developed an additional self-service automated report delivery module. After a one time setup in which business end users define the client, the funds and other information, customized data is automatically delivered directly to internal and external stakeholders through a secure FTP protocol. As a result, authorized business users can customize data obtained from over 6,000 extracts to ensure that they receive only that information they need at the exact time they need it.

Permissions for different data streams are defined by senior management on a client by client basis to ensure adherence to conflict avoidance rules and regulations.

Conclusion

Through the use of automation and self-service applications, SRI Infotech assisted the client in empowering its traders to work more independently and efficiently, while simultaneously improving transparency and cutting development costs and institutional risk. In the highly competitive OTC derivatives market, this provided the client with a significant competitive advantage.

Let SRI Infotech help you maximize productivity on your trading floor. Contact us today and learn more.

Categories
Case studies

Manufacturing Efficiency Through Technology

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 manufacturing enables delivery of products to market within shorter time-frames, leading to greater business opportunities, reduced costs and heightened profitability.

Case Study Background

Our client is an industry-leading manufacturer of components sold to Original Equipment Manufacturers (OEMs) in the building products industry. In their daily operations, floor operators use tiger saws to make precise cuts for the creation of window and door frames.

Although they had been utilizing a home grown system to facilitate job management, it required significant manual configuration for each job, thus increasing time to completion and cost. They sought to improve their cutting quality accuracy, reduce mistakes and product waste, and enhance overall productivity and efficiency with an updated infrastructure.

SRI Infotech worked with the client to help develop a state of the art computer aided manufacturing system, built on ASP.Net. The user interfaces – from the shop floor to the management suite – utilize Microsoft Windows workstations.

Details and operations

The developed system is divided into 4 hierarchical components, based on user access and functionality.

Floor operators utilize the software in the day to day course of operations. Managers & reviewers establish critical settings and define configurations. System administrators not only determine settings and configurations, but also have access to overall data, and the ability to set user permissions.

Each saw within the plant is connected to local web services. Particular attention was paid to developing an intuitive user interface, allowing floor operators to initiate the production sequence by selecting the job checkbox. Job details – previously entered into the system by the system administrator – including material length, cut angle and other technical specifications – are then sent to the particular saw through web services, initiating the production process. Operators additionally have the ability to cancel or pause individual jobs as necessary.

Big Data

In addition to sending instructions out, the bidirectional system also collects information about the order, including status, length of operation and completion.

Jobs data is subsequently collected in a central Oracle MS SQL database, and is used in various business processes, including, quality control, operational efficiency calculations, alerts, business intelligence and accounting. Each job is subsequently archived as well.

Access to aggregated project data enabled to the client to gain insight into prevailing market trends, enabling quicker strategy changes for better profitability. Additionally, by conducting meta-analyses of previously siloed data, the client was able to recognize opportunities for improved efficiency across seemingly disparate operations to reduce costs.

Results

By investing in computer aided manufacturing, SRI Infotech’s client was able to improve reliability, reduce errors and execute projects more easily. Moreover, the client was able to collect data pertaining to market demand, allowing them to better capitalize on business opportunities in shorter timeframes.

As a result of embracing new technologically aided manufacturing processes, the client saw improved production, profitability and future potential.

If your company is interested in learning how they can use technology to maximize their earning potential, please contact SRI Infotech today.

Categories
Case studies

Maximizing Cost Savings In The Cloud

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 of engagement – are the easiest to move to the cloud. These applications are generally developed with new code bases, and utilize more modern infrastructures, paradigms and languages. Because they are more modern, and are developed for the web and mobile, they are inherently easier to migrate to the cloud when necessary.

Moreover, because engagement applications are often tied to marketing and consumer retention strategy, they are increasingly developed in the cloud from the beginning. By developing in the cloud, companies are able to capitalize on reduced development time, iterative testing and upgrades and faster rollouts. For these applications, the cloud works because speed is of the essence. With native cloud development, migration costs are negated, while revenue streams potential increase on release.

Migrating Enterprise Applications

The real challenge for migration goals can be found in migration of legacy tools. These mission critical applications usually have to comply with strict security, administration, privacy, maintenance and uptime requirements. According to Forrester, they are frequently “old and either completely or substantially custom-built.” As a result, they often require “substantial revision to achieve cloud’s primary benefits—on-demand scaling, pay-for-what-you-use economics, global availability, and high security.”

It’s this redevelopment of legacy applications – by developers familiar with both the cloud and the application itself – that accounts for the greatest expense in cloud migrations. As detailed in the report, “[L]abor costs dwarf infrastructure and platform services costs in most of the migration projects we’ve reviewed.” Once all necessary team members are accounted for – the strategists, developers, project managers, and compliance and risk analysts – labor costs often exceed 50% of total migration costs.

Managing Migration Costs

Given the significant up front labor costs associated with migration of legacy applications, some question whether they should be attempted at all. Should cloud migrations only occur when existing infrastructure upgrades are imminent?

Not necessarily. Waiting for an perfectly opportune time to upgrade ignores the future cost savings… including of labor… that cloud migrations enable.

Upon completion of cloud migrations, labor costs often diminish significantly. Among global enterprises, approximately 67% of the IT budget is spent on labor for application development and maintenance, hosting, security and end user support. These costs can be significantly reduced if not eliminated after migrating to the cloud. In a typical scenario, person to server ratios improve from 1:5 to 1:10 or even 1:15.

When combined with subsequent cost reductions pertaining to infrastructure, physical plant, utilities, agility and capital expenditures, cloud migration projects are still likely to result in significant return on investment.

Go Global

That said, smart institutions want to reduce costs as much as possible from the get go.

To further reduce migration costs, organizations should consider enterprise migration planning. By establishing an enterprise migration initiative, and creating interdisciplinary teams that specialize in migration planning and implementation, organizations develop clear visions for migration goals, establish governance models that define roles and responsibilities within and across teams and define performance benchmarks. Centralizing business, oversight and technical expertise in one team ultimately results avoidance of duplication of work, and savings through economies of scale.

With an enterprise strategy, migration planning and processing becomes more predictable, more time effective and less labor intensive with each subsequent project. By using knowledge gained in one project to inform another, organizations can develop migration plans that capitalize on existing experience and identify potential pitfalls more readily.

Conclusion

Labor costs are significant factors in determining return on investment for cloud migrations. While they, do decline over subsequent projects as teams become more familiar with migration protocols, they needs to be accurately accounted for during the planning phase.

Categories
Case studies

Playing With Blockchain

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, mined and reviewed by participants. A blockchain shows that a transaction happened, when it happened and – upon consensus – that it happened correctly, without exposing confidential, identifiable details, including party identity and asset subject.

Categories
Case studies

WebRTC: Efficiency, Loyalty & Flexibility

Over the past few years, WebRTC – or web real time communications – has started to gain traction in both business and technology environments. For the first time, companies can enable in-browser or in-application communications – from chat to voice to video to document exchange, directly in the browser, without the need for additional downloads, plugins or other barriers to fast and seamless interactions.