- Methodology to overcome time and cost issues inherent in upgrade projects
- Johnson Controls, Inc. Group Treasury - pilot customer for methodology
Gothenburg, 12 November 2003 - Nordic Financial Systems (NFS), the provider of technical and business integration knowledge, today introduced a new upgrade methodology, which will enable multinational corporations to benefit from quicker and more cost effective upgrades to their Treasury Management Systems (TMS). The methodology, developed by NFS, can be applied to any TMS and reduces time and cost issues related to data or script conversion, inherent with projects of this kind.
"With TMS vendors releasing new versions of their software at least once a year, it can be costly and time consuming for customers to keep up-to-date with new versions. NFS' new upgrade methodology follows seven phases from pre-study to project closure. Expert assistance and knowledge is brought in to support the Treasury at specific points in their project and we have proven to reduce the amount of time customers spend upgrading. This is something that Treasuries have been waiting for," comments Magnus Lind, CEO, NFS.
The new model will ensure that Treasuries upgrading their TMS to a new version follow a fully proven project, vastly reducing operational risk. NFS' Upgrade Methodology is modular which gives Treasuries the choice to select areas to upgrade with assistance from dedicated project resources. All modules have a fixed duration allowing costs to be easily maintained. With the added benefit of working with one single party for the whole project, NFS helps to reduce the number of customised developments by advising and making use of new available applications, or system functionality.
Mario Del Natale, Manager Global Treasury Information Systems, Johnson Controls Group Treasury, comments, "Johnson Controls' Treasury Management System is used on a global level and is critical to our business. An upgrade for us must meet deadlines, maintain current functionality, exist in a stable and reliable environment and allow users to swiftly grasp new functionality. NFS' Upgrade Methodology supports this."