Q3 creates critical data safe solution for financial services provider operating across continents

Q3's global sourcing model gives the maximum benefit to customers in terms of cost savings, improved quality, access to highly talented professionals, flexibility of operations and reduced time to market.

Company Profile

 

• Client delivers financial data analysis and processing services to CPA and related users who have numerous volumes of client data for processing.
• Client is a leading venture capitalist with interest in setting up a comprehensive online as well as standalone solutions for financial services domain

Business Situation

 

Client had a vision to provide data processing and analysis solutions for companies or individuals working extensively with data as in user tax forms and various statuary submissions. Major hurdles for this category of companies involved in data management were:

 

• Repetitive, non core activity being performed by high cost specialized resources which made overall operations costly for their customers, non productive for learned state and time consuming.
• Protection of sensitive data is an issue if they decide to outsource the analysis and processing activities.
• Software being used for storing financial forms and data is not capable of exporting information along with sensitivity protection so that the exported data can be processed elsewhere.

Solution

 

• Q3 set up a special built up team which could work at higher efficiency and greater quality to meet the challenge of building a product that would be standalone application with scalability to become online application in due time.
• A robust application was developed that would encrypt sensitive data and restore originality maintaining proper alignment with specific information once processing has been performed at a remote data center operating from south east Asia.
• Complete operational transparency was maintained by keeping communication of status updates and progress as a regular process. People at Client would hear from the team lead, the program manager and the developers on a regular basis, with more detailed weekly status reports indicating progress against milestones.
• Program Managers at Q3 were geared up to ensure success of Client business ventures and not only the product development. They were committed to building a better design at lower cost than competition, not limiting themselves to specifications received from Client, instead suggesting addition to core functionality working as a joint team with peers at Client.
• Automated load and functional software testing tools like Test Advantage were used for Quality Assurance functions. At the same time state of the art Integrated development Interface were used like Visual Studio 2005 with .Net 2.0 technology which has integrated Business Objects for better performance on multiple databases.

Benefits

 

• Shorter time to market due to highly flexible business model and high end specialized experienced resources to deliver relevant solutions in BFSI domain.
• Extension of Client’s development teams globally by taking advantage of different time zones and Q3’s highly flexible Software Development Life Cycle (SDLC) methodology.
• Business model and culture at Q3 entails ownership of the software product development process. It is not only the team members who are dedicated to a Client; it is the whole company management which works in complete tandem and efficiency to ensure that the relationship is seamless and successful.
• Client takes pride in being able to provide latest technology product which has more in terms of functionality compared to competition and costs a fraction of what others charge, on account of being able to cut down resource costs from average $90,000 to approximately $30,000 per resource.