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Wilco announces Wilco STP Direct new fast track implementation methodology

Wilco International, a wholly owned subsidiary of ADP Inc (NYSE: ADP), has announced the launch of a new systems implementation methodology, STP Direct, to facilitate fast track, low cost implementations of its securities processing products.

The aim in developing STP Direct was to make full use of Wilco's ten years' experience of implementing its products to deliver a best practice solution in the shortest possible time from initial agreement with the client firm.

Commenting on the introduction of the STP Direct initiative, Steve Bloomer, CEO at Wilco International said: "Effectively what Wilco has done in developing STP Direct is to distill and refine the experience of existing users of Gloss and pass on the benefits of this in a packaged form to new users. Firms increasingly need rapid deployment of STP systems to take advantage of new business opportunities, and that is the challenge that STP Direct meets."

Wilco announces STP Direct fast track implementation methodology

The STP Direct methodology spans the entire sales, development and implementation process, from first contact with a potential client through to live running of the system. A key component of STP Direct is a 'warm start' standard version of Wilco's Gloss Trading and Settlements system with a base configuration, used as a workflow model for comparison with the firm's current securities processing operation. The comparison process identifies areas where the firm's operations deviate from the workflow of the standard Gloss configuration.

Any deviations identified are then used as the basis for detailed workshops led by Wilco business consultants with key operations personnel from the firm. Following the workshops Wilco presents costed options for dealing with the identified deviations. The costings are based on whether the options require changes to the firm's workflow to match that of Gloss, additional configuration or development of new functionality.

During the ensuing month Wilco works closely with the firm to examine the costs and benefits of the options. This approach provides the firm with the information needed to decide which options will deliver the best value solution at an early stage in the implementation process.

The selected options then form the basis for a fully costed proposal to the firm from Wilco.

By using the warm start Gloss and working from the agreed list of costed deviations, the timescale from acceptance of the Proposal to live running is scheduled for three months, including six weeks for user acceptance testing.

Wilco announces STP Direct fast track implementation methodology

STP Direct has been launched for use with Wilco's Gloss securities processing system, and the methodology will be modeled for use with other Wilco products.