Success Stories
Implementation of a leading third party product for a Leading Investment bank leading to Proactive identification of risk factors and mitigating the same
Business Need- To migrate to the latest version of the third party product wherever an old version was already in place
- To implement the latest version where this was not being used before
- The Client wanted to reduce the turnaround time for the development and support of this application
- Mix of profiles with skills from Perl, Shell Scripting and Oracle, Production Support and Business Analyst skills which are difficult to procure
- Slow Learning curve for the new joinees
- Highly time critical environment due to the 24*7 nature of the application
- Language constraints and time zone differences
- Covering a part of the US time zone from Bangalore by key people so as to have an overlap with the client and onsite team to ensure better coordination
- Understanding the client environment, which varies from location to location in terms of the applications interfacing with the third party product
- New Learning curve for each new location where the third party product is implemented as the applications and their interfaces vary
- Lack of documentation and Standard processes and procedures from the Client's side
- Continuous trainings for the team members, as resources skilled in the third party product are not easily available in the market
- Interactions and coordination between the different vendors in different regions is a major challenge
- Development and Documentation (2005 Plan) through the third party product competence group
- Maintaining and enhancing Client's OMS architecture
- Interface development and integration with upstream and downstream applications
- Implementing common processes and suggesting standard procedures like Checklists for Trading Desk Setup, Version Control of all documentation at client locations
- As there was no documentation available with the Client, HCL created a Knowledge Repository with all training documents which is maintained in CVS (Concurrent Versions System) and accessible to all team members and client and is constantly updated
- Reduced reliance on people and increased reliance on procedure and processes
- Proactive identification of risk factors and mitigating the same
- Reduced attrition due to cross training and rotation of resources
- Reduction in time taken to make a new recruit productive from 4 months to 2 months due to extensive documentation and standard procedures
- Doing a change impact analysis every time before making any change
- Increased Client confidence in HCL's capabilities which has resulted in handling higher responsibility functions and has in turn has released significant Client bandwidth
