Client:
An investment management company

Engagement:
We were contracted to lead the client through an internal analysis to determine their requirements for and assist in the selection and implementation of a portfolio management and Order Management System (OMS). The current legacy portfolio management system did not accommodate many new asset classes while the OMS did not support the FIX communications protocol nor provide a seamless access to ECN.

Deliverable:
We first formed a stakeholder committee that represented business interests and technology considerations. A senior manager representing the business communities led this committee while we provided advisory and guidance. The stakeholder committee selected the staff for a working committee that set goals, scheduled status updates and established the due dates for deliverables.
We advised the working committee during the research, analysis, evaluation and recommendation phase and they submitted their findings and recommendations on schedule. Based on their recommendations, the stakeholder committee interviewed the identified application vendors. We performed “due diligence” on the each vendor, including a check of their reputation from current and past clients.

Result:
The stakeholder committee selected the vendor that provided an integrated solution recommended by the working committee. A one-vendor application solution enabled the client to “fast-track” the customization of each application and implementation schedule. The new systems exceeded the client’s requirements and within two years the cost was recovered through increased client service & support of additional business and internal efficiencies.

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