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Implementation of a leading third party product for a Leading Investment bank leading to Proactive identification of risk factors and mitigating the same

Published Date: 
Nov 18, 2010

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
 

Challenges

  • 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
 

HCL Solution

  • 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
 

Benefits / Value Delivered

  • 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
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Facts about HCL Technologies

  • $5.4 billion global company delivering measurable business value in enterprise application services, IT infrastructure management, custom application services, engineering and R&D services, and business services
  • Extensive global offshore infrastructure and network of offices in 31 countries
  • Providing holistic, multi-service delivery across industries — financial services, manufacturing, consumer services, public services, and healthcare