Calypso Fast-Track covers the discovery, development, implementation and validation phases of projects. During a recent implementation, these phases of a Calypso front to back installation for interest rate derivatives, credit derivatives and FX were completed within just 100 workdays. Prior to Calypso Fast-Track, this would typically have taken up to nine months. Designed to reduce the risk of the implementation process, Calypso Fast-Track makes the process as seamless and transparent as possible.
As financial organizations face write-downs arising from the credit crunch, critical system replacement projects risk being delayed or put on hold due to the likelihood of unforeseen costs. These costs can often arise from expanding or inaccurate project scope, unplanned training requirements due to staffing changes mid-project, or a lack of supporting materials to aid implementation.
Calypso Fast-Track addresses these issues from the project kick-off, designed to ensure the scope is fully understood, providing static and reference data, best practice workflows and data interfaces to minimize configuration. Users have continued access to accelerated training programs in a live environment. The entire process is supported by complete and comprehensive documentation.
"Calypso and IBM have built a strategic alliance to assist Calypso users around the world achieve success in their implementations. IBM welcomes the launch of Calypso Fast-Track as a solution aimed at minimizing the inherent risk in system replacement projects - enabling Calypso customers to better realize the benefits of Calypso at an accelerated pace," states Sanny Makki, Partner - Financial Markets at IBM.
"Calypso Fast-Track is the culmination of several years of collective implementation experience from our professional services team, customers, engineering and implementation partners. The solution is unique in that it is an 'open source' configuration," states Gerard Rafie, VP Marketing at Calypso. "This initiative, designed for a greater customer satisfaction, is a major priority for our company, supported by a dedicated team of engineers to process feedback from our customers and to ensure quality enhancements and continuous improvement."
Calypso has also leveraged its relationship with Accenture for contributions to Calypso Fast-Track content and testing. Steve Scemama, Executive Partner at Accenture, says: "The Calypso software application generates considerable interest from customers based on its robust and flexible functionality that users can configure to match their specific requirements. This new Calypso Fast-Track offering will help facilitate and minimize implementation risk by providing ready to use configuration and documentation that aids knowledge transfer and the performance of gap analysis. The Calypso Fast-Track content will provide customers with the comfort of proven configuration used by industry leaders and peers."
"We are delighted to launch Calypso Fast-Track," commented Charles Marston, Chairman and CEO of Calypso Technology, Inc. "By developing Calypso Fast-Track we have revolutionized the Calypso implementation process. Combined with our effective training and interactive documentation, Calypso is a truly unique and powerful software solution for the capital markets."