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Enhancing The Performance of Financial Management Application
Enhancing The Performance of Financial Management Application
Brief Overview
Improving the performance of a financial application processing millions of trades, and transaction accounting data. Client is a global Capital Markets organization headquartered in London.
Summary
Client:
Global Capital Markets, Organization headquartered in London
Situation
In 2009, client went live with its financial application based on Oracle E-Business technology. The application records revenue and expenses in central place for Europe operations. It serves the following key business needs:
Providing portfolio visibility Enabling better control on risk and compliance needs Providing head office reporting and analysis.
Payback period:
Short Project pay-back period of 3 months
The application uses Oracle Financials including GL, AP, Fixed Asset and Cash management. Client usage of the applications across the business increased significantly and lead to huge growth in sub-ledger data. The application database size was 3.2 Terabytes and expected to grow 25-30 % every year from Oracle Financials Sub ledger accounting modules.
Benefits:
1. Increased system availability by 22 hours per month 2. Increased user productivity by around 25% 3. Reduced IT staff efforts contributed to 40% of ROI
Challenges
The increasing usage of application data, was severely impacting the business performance and supportability of application leading to: 1. Reduced system availability to end user due to long running end of day scheduled jobs 2. Reducing Business user productivity ( poor response times) 3. Delayed periodic book closures due to heavy data processing requirements 4. Data latency causing unrealistic risk computation and risk of publishing wrong data to regulators 5. Increasing IT infrastructure (hardware and storage). The application technology architecture did not have standard archive & purge functionality specific to Sub ledger accounting. Moreover, the Client had weekly scheduled housekeeping activities for IT systems and had only 4 hours window to perform the archive operations. This time window was too short to enable archival on the existing system and an innovative, effective archival strategy was urgently required.
Solution Provided
Hexaware created a tiered Purge & Archive solution for the application. This enabled the Client to purge as well as archive the data effectively within the available time window of 4 hours.
www.hexaware.com
Key highlights: Ability to configure the qualification criteria of transactions which should be archived and purged in periodic runs
Why Hexaware?
Experience: Multi-year strategic vendor to global top financial services organization Delivery Model: Optimal mix of onsite offshore deployment keeping cost and quality under control Resources: Hexaware used its Capital Market domain centric consultants with strong expertise on Oracle system Qualified: Hexaware is Oracle certified partner
Designed to work in parallel taking advantage of multi core hardware and the Oracle technology stack Archival of a Million rows in 3 minutes. The application and system performance improvement
Hexaware delivered the solution under tight time constraints by leveraging our proprietary archiving frameworks and our experience in capital market domain and Oracle. Further, our onsite offshore model enabled an economical and quick delivery.
Trade Valuations
Structure Valuations
Position Valuations
Transactions
Archive Application
About Hexaware
Hexaware is a leading global provider of IT & BPO and consulting services. The Company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy, Your Success is Our Focus, is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Solutions, Quality Assurance and Testing Services, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to www.hexaware.com
www.hexaware.com