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T24/Globus™ Pre Implementation |
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Banking >Temenos
T24™ > Pre-Implementation |
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System Analysis & Design In a recent study of implementations, it was estimated that it costs between 50 to 200 times more to fix a design error or omission in the later phases of a project than if the initial design were done correctly. Therefore, before any implementation, your current and future business and technical requirements must be completely and comprehensively defined. This will ensure that the right problems will be solved and are given the correct priority (must have, nice to have and could have) so that the implementation is focused on meeting the project objectives in the most efficient manner. With their deep business and technical knowledge and experience, our consultants are able to draw up a clear picture of your needs and give you the best system architecture and design.
Key Benefits/Deliverables
- Gap Analysis And Functional Specification
- Review your business and product needs versus Temenos
T24™ capabilities
- Review control procedures, information and work
flows under the new Temenos
T24™ environment
- Development of a Gap Report to identify missing
functionality and to propose and prioritize the development
of relevant solutions
- Development of a Functional Specification that
will outline all the menus, screens, enquiries, reports
and advices – and the associated control procedures,
information and work flows that will be in the delivered
system
- System Architecture Design
- Review existing systems that will survive after
Temenos
T24™ is implemented and their integration
and interfacing requirements
- Review current and projected business volumes and
expected performance times (online as well as End-of-Day
batch)
- Development of a Systems Architecture Report that
will specify the interfaces to be developed –
and their related automated reconciliation controls,
implementation design (modules to be used, single
versus multi company set-up, etc.), platforms (hardware,
database and network) that will satisfy the performance
requirements
- Data Conversion and Reconciliation Strategy
- Review existing systems that will be replaced by
Temenos T24™ and the condition of available
data in them with the view to migrating this data
to Temenos T24™
- Review the computation of derived data (accruals
and revaluations) between existing systems and Temenos
T24™ to determine possible known reconciliation
difference behavior
- Development of a Data Conversion and Reconciliation
Strategy Report that will describe the data migration
approach (manual versus automated) , automated data
conversion and reconciliation routines required, reconciliation
approach to be used (given know differences in derived
data behavior.)
System Prototyping
Before requesting the development of a new major functionality
or module to address some existing business requirements,
it is common to create a prototype. This prototype, which
can be built very rapidly, helps you to visualize and
define the business and technical specifications to be
given to the developers. It also helps to reduce the development
costs by identifying wrong directions or unnecessary functions.
There is another way to look at the use of prototyping.
Given the competitive nature of banking these days, it
is sometimes necessary to develop and test market new
innovative banking products. However, the business justifications
may not be there to immediately justify a large Temenos
T24™ development. In these cases, a prototype that
provides the basic functionality which allows the bank
to come to market with the new product within weeks of
conceptualization is often a preferred option. If the
business takes off, the prototype can be sophisticated
via regular developments. If not, the financial investment
to be written off will only be a small one. Internet banking,
mobile phone banking via WAP (Wireless Application Protocol)
/ HDML communications and all-in-one accounts with loan
facilities are all candidates for prototyping. Our consultants,
who are constantly updated of the latest technologies,
will use the best tools and techniques currently available
to develop these prototypes.
Key Benefits/Deliverables
- One pass definition of prototypes with our business and technical consultants working closely with your users and IT staff
- Rapid development and deployment of prototypes
- Customization of the prototype to get to the final production system with all the bells and whistle
System Benchmarking
As a bank intending to purchase a banking system to run
its core businesses day-to-day for years to come, it is
extremely important to make sure that Temenos T24™
is the right package.
A large financial institution will be concerned about
the number of concurrent users or volume of transactions
that can be handled. Can Temenos T24™ cope with
the required current and future volumes (average and peak)?
Our consultants have conducted several benchmarking exercises
in the past on various server platforms (HP, Compaq, IBM,
etc.). With our knowledge of the leading edge high-end
server platforms and the Temenos T24™ application
and database technologies, we have taken Temenos T24™
to its limits in terms of performance to match and even
surpass the benchmark's requirements. Our independence
from software and hardware vendors assures you of our
objectivity and we will always provide you with unbiased
recommendations.
Key Benefits/Deliverables
- Creation of the benchmark's framework and requirements
- Comprehensive benchmark result report with recommendations on configuration for optimal performance in a production environment
Project Planning & Contract Setup
You have decided to purchase a Temenos T24™ license.
Now starts the contract negotiation.
How can you make sure that the interface development you
need is indeed going to take 3 months instead of 3 weeks?
Will it really cost you USD 300,000 to implement portfolio
management? Does this modification really need a time-consuming
and expensive development or is it just a simple Temenos
T24™ customization? Has any other customer already
requested the same development and found a simpler solution?
With experience gathered from many other projects of a
similar nature to yours, our project managers can advise
you on the best way to structure your Temenos T24™
implementation plan. We will help you review all task,
resource and cost estimates – and offer you alternative
more cost-effective proven solutions wherever possible.
Key Benefits/Deliverables
- Accurately and comprehensively review task effort, resource and cost estimates
- Survey and provide alternative cost-effective solutions
- Development of a realistic Project Plan (high level and detailed), Resource Plan (what skills and when needed) and Project Team Organization Structure that will be focused on meeting the project objectives in a timely manner
- Development of a Project Services Contract where payments are phased and appropriately and realistically tied to deliverables so that you get corresponding value for your money
Human Resource Appraisal, Training & Supplement
Are you acquiring new staff for your Temenos T24™
system? Are you concerned that, perhaps, their skills
are insufficient to support and satisfy all of your requirements?
Is the standard training that is available not in-depth
enough – or cover all the areas that are really
of concern to you? Are you re-training your support people
to implement and then support Temenos T24™?
We can help you by appraising the skill requirements of
your staff and bridging any knowledge gaps through intensive,
customized training or by supplying consultants to supplement
your team for a period of time.
We can evaluate your staffs’ skills based on your current requirements and future directions. Based on our findings, we will advise you on the best approach to address and improve the situation by, for example, designing and delivering a specific training program.
Alternatively, we can train your staff by a mentoring process. By supplementing your staffs’ capabilities with that of our consultants’ for a period of time (e.g. the critical period just after going Live) until they are ready to take over completely, you can meet the dual conflicting objectives of meeting aggressive project targets and bringing your staff up to speed.
Lera can also provide customized implementation team training
that is focused on your banking sector (e.g. private banking)
and market (e.g. Middle East) that will prepare your team
to handle all the specific Temenos
T24™ application and technical issues.
Key Benefits/Deliverables
- Accurate appraisal of your Temenos T24™ business
and technical support staff
- Recommendation of customized training programs
- Training your staff in specific Temenos T24™
areas that will address any knowledge gaps
- Supplementing your staff’s skills with our
own until they are prepared to take over
- Implementation team training that is focused on
your business and market
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