|
|
 |
Press Release
« Back
iRise Application Simulator Solution Delivers Rapid ROI to Financial Services Industry
Demand for Proven Application Simulation Solution Increases as Leading Financial Services Companies Save Development Time and Cost Due to Increased Productivity
EL SEGUNDO, Calif. –— September 13, 2004 — Financial services companies are benefiting from increased competitive advantage, decreased risk, shorter development cycles and substantial cost savings by implementing the iRise Application Simulator™ solution. As a leading enterprise software and services company dedicated to bridging the communication gap between business and IT, iRise® is delivering rapid ROI to a number of leading financial services companies by enabling them to visually validate and "test market" applications prior to investing time and money in development.
The process of defining, developing and deploying customized applications has become so complex that more than 4 out of 5 software projects fail because of poorly defined requirements according to the Standish Group. As a result, financial services companies are in need of solutions that will improve the success rate of these projects, which often fail due to poor communication between business users and developers. The iRise Application Simulator is helping the financial services industry address this costly issue by allowing for the definition, testing and approval of Web-based business software before developers even write the first line of code-eliminating up to 30 percent of overall development costs.
By enabling financial services companies to move from a text-based to a visual development environment, iRise is helping leading organizations, such as Wachovia and UBS Wealth Management to realize a number of key benefits including:
- Reduced Time to Market: Financial services companies typically have only a short window of time to take advantage of new revenue generating or cost-cutting opportunities. It is imperative that requirements are accurate and the implementation is immediate. iRise is a key partner for these companies who need to turn ideas into applications by cutting the development time from months to weeks.
- Consolidated Customer-facing Systems: One of the top issues facing financial institutions is the need to consolidate and simplify multiple web-based systems developed in the early days of the Internet that have become too complex. iRise is helping its customers quickly develop applications that enable a single touch point for the customer that can access the multiple financial products available.
- Considerable Risk Reduction: As financial services companies plan for multi-million dollar projects, iRise helps reduce the risk by defining an application that can then be tested and approved before full development.
The iRise Application Simulator platform is designed to provide business users with the ability to "test market" requirements through an interactive simulation prior to development, thus helping to ensure that customized applications can meet the needs of the business while minimizing development time and cost. Historically, financial services companies and other organizations across industries have relied on text-based requirements during the application definition process, often resulting in failed or stalled projects due to miscommunication and inaccurate interpretation.
"Financial Services experienced a substantial amount of mergers and acquisitions in recent years, further adding to the communication disconnect between business and IT within organizations," said Emmet B. Keeffe III, CEO and co-founder, iRise. "As financial services companies continue to invest in custom development for increased competitive advantage, iRise is enabling these organizations to maximize their investments by bridging this costly communication gap, resulting in immediate and quantifiable savings."
About iRise
iRise® is dedicated to bridging the communication gap between business and IT by improving the process of defining business applications. Focused on Fortune 1000 companies, its innovative iRise application simulator enterprise software platform recently received eWEEK magazine's Analyst's Choice award. It allows an organization to "test market" applications with customers, partners and employees before making funding decisions and validate business requirements with stakeholders during the definition process. iRise ensures business applications actually meet the needs of the business. With the same focus, its services group has successfully translated the needs of business users to deliver mission-critical business applications for more than 100 customers on 300 engagements. The company is based in El Segundo, Calif., with regional offices in New York and San Francisco, and sales offices covering the continental US.
|
|
|
