Adam Taylor, partner at City Fios, explains âOur implementations to date have usually involved extensive customisation of the system to meet specific client needs. This increases the cost and timescale of the initial deployment. We want to address this by offering a product that still delivers the benefits of our âfullâ version, but which would appeal to clients who require a more pre-packaged solution at a reduced costâ.
Adam goes on to add âBy offering a standardised process covering the most common sales evaluation methodologies, with smarter data-driven customisation of tariffs, calculations and data structures, we can create a version which is faster and cheaper to deploy. In particular we are targeting Brokers and Tier 2/3 Banks who canât or donât want to fund sizeable up-front implementation costs, but who do want high quality Client Management Information quickly.â
The new âgenericâ version of the software solution will cater for all wholesale banking products, and will provide key features such as trade splitting / attribution; automated matching of risk-free brokerage trades; and complex trade value calculations based on multiple value drivers. Adam commented, âWith this version we will approach clients with a broad range of methodologies which they can plug their data directly into.â
City Fios will also offer their current outsourced system administration services to support the new generic version of the software. A hosted version of the service is also in development, to allow clients to further streamline the necessary in-house support for management of sales performance data.
The new generic toolkit is scheduled for release in Q3 2011.