Case Studies

Leading Global Financial Advisory Firm

COMPANY CHALLENGE

An international news service wanted a partner that provided quality cost-effective development and support services within close proximity to the firm's offices in the NY/NJ metropolitan area.

The services had to be provided either as service level agreements (SLAs) or deliverables-based, freeing the market data firm's managers to focus on internal initiatives without the daily administrative overhead of on-site contractors. The program would have to be volume-based in order for it to be considered a win-win for both the financial firm and the supplier partners.

SOLUTION

TekFinancial Solutions understood the firm's business problem and responded with a proposal to provide off-site resources that possessed the required technology and domain expertise augmented with lower cost resources. In order to address the requirements for off-site development, we partitioned off a portion of our Red Bank Solutions Center for dedicated use by the firm's projects. In close coordination with the firm's information security and policy group, we ensured that the facilities complied with stringent security standards such as those promulgated under the Gramm-Leach-Bliley Act.

VALUE AND BENEFITS DELIVERED

As a result of TekFinancial Solutions services, the program has yielded an overall cost savings to the customer of 33 percent, while supporting 19 individual projects. Lower operating costs, ability to develop products faster, while developing scale and margin are the value of a TekFinancial Solutions partnership.

Higher customer satisfaction was created with improved customer service via simplified and segmented product lines. Realigning its corporate culture and business practices by focusing on customer service had the added benefit of a re-energized employee experience.

TekFinancial Solutions has improved customer productivity and profitability by undertaking work including the development of reports that: identify opportunities for marketing campaigns, track contributions to retirement plans, determine client demographics, manage stock options, and incentive financial analysts. Other areas of value include business rules development for ADP/ACP nondiscrimination testing, automating retirement plan establishment, and automating receipt of retirement plan deposits.