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Case Study

Banking, Financial Services

PACE Enhancement and Maintenance Services help Investment Giant cut costs, improve application efficiency Client Overview

A leading global investment management firm in U.S providing investment management services to many public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. It is also one of the largest mutual fund sponsors, with a diversified range of globally distributed mutual fund portfolios.

Hexaware Approach The Hexaware team successfully fine-tuned the PACE batch flow to reduce the execution time of its nightly batch cycle. A mix of best practices followed for such fine tuning process included: • • •

Fine-tuning the logic of critical programs to reduce I/O’s Thorough analysis of jobs to identify redundant or obsolete steps in order to remove them Dividing larger, monolithic jobs into smaller, modular and independent jobs to run in parallel

The challenge in improving application efficiency lay in controlling the execution time of the nightly batch cycle to ensure adherence to service level agreement (SLA) timings for the system to be up and running by morning. The solution involved: • • • •

Web-enabling legacy functionalities leveraging a live interface between the web server and the mainframe to retrieve information from the legacy applications Providing WAP and PalmPilot interfaces through the web to mainframe applications Supporting the migration of legacy applications to the new product Extensive support from offshore and onsite teams

Solution Framework

The Challenge The organization required maintenance services for its backbone Portfolio Accounting Core Engine (PACE), covering 24x7 production support activities ncluding the night batch cycle comprising the most critical functions of PACE including: Accounting Transaction processing Pricing and valuation of portfolios Further, the challenge was to provide: Support for the PACE online system Enhancements to PACE for current and future business needs Improvement in application efficiency

The project followed a well-defined and customized life cycle model: Initial Evaluation and Planning Phase: Knowledge transfer plan that led to the knowledge transfer phase was produced Knowledge Transfer: This phase culminated in a detailed transition plan, project plan describing the methodology for execution of the project and a resources and training plan identifying training needs to familiarize resources with the project environment and methodology Transition Phase: The Hexaware team along with the client’s team engaged in production support, carrying out enhancements and corrective/preventive maintenance.This phase helped develop expertise for the maintenance project. Ongoing Phase for Maintenance: Following transition,Hexaware took over the entire range of maintenance activities for PACE. Its cost-efficient onsite-offshore model with clear distribution of roles and responsibilities among the onsite and offshore components enabled smooth functioning. Key activities carried out in this phase included:

© Hexaware Technologies. All rights reserved.

www.hexaware.com


Case Study

Banking, Financial Services

Production Support: The activities involved resolving failures encountered during the execution of nightly batch cycle of PACE as well as the on-line component of PACE Trouble Report (TR) Resolution: This involved a defect in the application impacting one or more system users or components Enhancements/Request for Service (RFS): Requests for enhancing functionality, improving validations or performance of one or more functions of PACE, or addition of new features or modules Information Requests (IR): Requests for analyzing and documenting certain functional or technical aspects of the application and aimed at preventing operational problems / improving overall efficiency

Value Delivered- Client Benefits Significant cost advantage due to onsite-offshore delivery model Improved performance of PACE and allied systems interacting with it Teaming up with Hexaware helped the client’s research team hone its skills Empowering portfolio managers by providing them Web access to critical reports Reduced IT portfolio complexity while lowering costs significantly

Technology Environment Hardware: IBM Mainframe 3090, IBM compatible Pentium II workstations, 128 Kbps International Private Leased Circuits (IPLC) providing Internet access, LAN-to-LAN connectivity,video and teleconferencing

About Hexaware Hexaware is a leading global provider of IT & BPO and consulting services. The company has achieved a leadership position in HR-IT solution services and implementation of ERP Platforms in key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Hexaware focuses on delivering business results and leveraging technology solutions by specialising in Business Intelligence & Analytics, Enterprise Solutions, Quality Assurance and Testing Services, Remote Infrastructure Management Services and Legacy Modernisation. 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. Hexaware has a significant presence in the European market with local offices in the UK, Germany, The Netherlands and France. Our global footprint spans across 5 continents, 20 countries and 31 locations.

Software: MVS,VSAM, COBOL, CICS, MS-Office,MS-Outlook Tools Used: ENDEVOR – Software Version Control tool, CA -7 – Batch Scheduler, Dispatch – Repository of Reports, 3270-Terminal Emulator for IBM mainframe

For all Hexaware office locations, visit: http://www.hexaware.com/worldwide.htm NA Headquarters 1095 Cranbury South River Road Suite 10, Jamesburg, NJ 08831 Main: 609-409-6950 Fax: 609-409-6910

India Headquarters 152, Sector – 3 Millennium Business Park ‘A’ Block, TTC Industrial Area Mahape, Navi Mumbai – 400 710 Tel.: +91-22-67919595 Fax: +91-22-67919500

© Hexaware Technologies. All rights reserved.

EU Headquarters 4th Floor, Cornwall House 55-57 High Street, Slough Berkshire SL1 1DZ, UK Tele: +44 (0)1753 217160 Fax: +44 (0)1753 217161

APAC Headquarters 180 Cecil Street, #09-03, Bangkok Bank Building, Singapore 069546 Tel.: +65-63253020

www.hexaware.com


Pace Enhancement and Maintenance Services  

PACE Enhancement and Maintenance Services help Investment Giant cut costs, improve application efficiency

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