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4 Steps To Establish a Successful Proof of Concept Scope
The most effective system implementations start by establishing a proof of concept (POC) to validate a vendor’s ability to support your requirements and highlight areas where custom solution design may be required. A key component of a successful POC is a clearly defined scope that identifies the types of scenarios, number of portfolios, goals and criteria for completion. Yet we see time and time again firms overlook this element. Here are four key steps to establish a thoughtful POC scope that will allow your implementation to go off without a hitch.
by Nicol S. O’Connor, Senior Consultant
Implementation Archaeology: When Finding Business Logic Becomes an Easter Egg Hunt
Picture this: The monthly performance report has just been received, but it’s missing some data. No errors were generated, yet the blank section on the output indicates something went wrong. The analyst sends a message to IT to report the error, and this starts the Easter egg hunt for the issue.
How many times has this happened to you or your colleagues? Whether you rely on a large single vendor, multi-purpose platform or multiple integrated systems, I’d be willing to speculate it’s a common occurrence. Beyond tracking down today’s Easter egg, how can we avoid the problem in the future or remedy our existing platforms?
by Christopher D. Sadala, Senior Consultant
3 Ways To Accelerate Your Vendor Selection Process
Finding a vendor to solve a business need is often treated as an analytical task – pick one that checks the most boxes and provides the biggest “bang for the buck.” However, several other factors should feed this decision. Vendor selection is not only about choosing the right platform, but also about picking the right partner who closely fits the firm’s culture and offers complementary services. Often, organizations find themselves in a precarious situation when extensive analyses conducted over several months do not yield decisive outcomes. Here are three ways to accelerate the process and reach a viable option.
by Christine (Tina) M. Madel, CFA, Principal
Agile and Waterfall: How To Marry the Two Approaches To Project Management
The two main approaches to project management, Waterfall and Agile, are often viewed as mutually exclusive. Though it’s true they may have little reusable overlap, each is helpful in setting expectations and tracking iterative development and nuanced progress updates. But what happens when you are managing an Agile team and the executive committee wants Waterfall-style reporting? Let’s explore how to unite the teams that work and view progress differently.
by Elizabeth M. Colebrooke, Principal
Control Your Data: Don’t Let Your Data Control You
Financial services organizations have complex and rapidly-evolving data requirements. Whether it’s navigating compliance with ESG standards or diversifying investment products into complex derivatives instruments and alternative investments, the challenges feel never-ending or even flat-out impossible to solve. This begs the question: Are you controlling your data or is your data controlling you?
by John E. Leavy, Principal
RFP Blues: Hitting the High Notes
LISTEN TO THE MUSIC
Have you ever been to JazzFest in New Orleans? If not, I highly recommend it: ten or more stages – zydeco, jazz, blues, rock, country, gospel, African, krewes, big names, local names – all playing at the same time. The problem is: standing in the middle, program in hand, faint music coming from all directions, people celebrating – what’s your choice going to be?
Each listener has a different strategy, but I’ll tell you what absolutely no one does: send out multi-page questionnaires in advance to each and every band asking them about their style, instrumentation, influences, playlist, recording history, etc. Nobody RFP’s JazzFest.
by Mark R. David, CFA
Are You In Control of Your Market Data Costs?
Effectively managing market data costs is not always an investment manager’s first priority. Here within we examine the contributing factors, and the opportunities for material cost savings.
by Mick Cartwright, CIPM
Is Your Organization’s Performance at Risk from Excel Anarchy?
Spreadsheets are one of the most powerful tools used by companies today, yet one of the most dangerous in common use across organizations. This paper details the risks and ways to mitigate them.
by Mick Cartwright, CIPM, Managing Director
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