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Case Study

Asset Management & Capital Markets

Charles River Application Support and Maintenance for an Investment Management Firm

Client Overview

The Client is an investment firm with global reach, providing investment products and services to individuals and institutions in more than 40 countries. The client manages more than US$ 200 billion in assets in more than 300 funds, allowing comprehensive and strategic diversification covering the range of asset classes

Business Need Difficulty in managing support and maintenance as these activities were carried out by multiple groups comprising of employees and contractors with resultant support and maintenance redundancy. 

Reduce maintenance costs

Provide economical, flexible and effective resource pool to level staff based on project demands

Scope To stay ahead of the competition, the client had decided to partner with a leader in the IT Outsourcing space whom they could trust their mission critical systems. After a thorough due diligence they finally partnered with Hexaware. Hexaware decided to set up an offshore development center to maintain the complex applications and reduce maintenance costs. The overall scope of the engagement was as follows: 

Providing 24 * 7 CRIMS applications support; covering all the modules (Manger Workbench, QOE, Compliance, Order Life Cycle, Reference Data, etc.) of CRIMS and the asset classes such as Equity, Fixed Income, Equity Futures and Options across all geographies.

Processing Day-end/begin jobs

Establishing and Monitoring FIX connectivity

Creation of new interfaces for intraday process

Incidence Reporting and Management

Hexaware Approach

Well defined process connecting all the phases

Test Planning / Preparation of Test Cases / Test Data

Functional Testing of Proprietary PMS and Charles River IMS.

Integration Testing (Data Validation) Proprietary PMS and Charles River IMS.

Defect Management


Hexaware provided a scalable organization structure aligned with the client's IT needs with multi-level communication for faster turnaround and issue resolution. It set up an offshore development center to maintain the complex applications and reduce maintenance costs.

The Challenges 

Very high degree of complexity in the applications from a support perspective

Providing 24*7 Support across various client locations across the globe across different timezone

Business Benefits 

Significant reduction in Total cost of ownership

Expanded global capability

Improved time to market

Hexaware worked in tandem with the client’s team and developed sophisticated project roadmap for application support and maintenance activities, which included: 

Review of business requirements

Preparation of technical design document

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Charles River Application Support & Maintenance