Press Release

African Bank Cuts Project Cost by 20% with iRise Visualization

Visualizations streamline application consolidation project through dramatic reduction of rework

El Segundo, Calif. – February 25, 2009 – iRise®, the world’s leading visualization solutions company, today announced that African Bank, one of South Africa’s leading financial firms, has successfully adopted visualization as a strategy to dramatically cut application consolidation project cost and accelerate delivery of critical business systems.  By visualizing the final product before coding, African Bank measured a dramatic reduction in late stage rework on a new accounts receivable system, which translated into an overall project savings of 20%.  As a result of this project success, visualization is now being mandated for all large projects at African Bank.

“Text-based requirements simply don’t work for fast moving companies in competitive industries like ours,” said Anthony Gischen, senior IT manager.  “Using iRise we can now agree on business needs in real time; no wasted motions or confusion about what to build. The result has been transformational for our organization.  We get more done with less cost and have happier business customers.”

With iRise, business analysts and developers at African Bank quickly visualized and tested a consolidation of two separate accounts receivable systems in only one month.  The team measured a 40% drop in late stage rework as compared to the previous application definition process which relied heavily on ambiguous text based requirements.  Due to the success of this project African Bank is currently in the process of making iRise training a standard component of the business analyst and developer on-boarding program, something that underlines their commitment to making visualization a standard within their software development process.

“Like most companies today, African Bank are looking for ways to cut cost, while improving delivery at the same time,” stated Mitch Bishop, CMO of iRise.  “The results are pouring in from hundreds of customers around the world; visualization is now the essential strategy to accelerate delivery of business software with dramatically lower cost.”

Software Visualization – The Ultimate Change Agent
The world’s best run companies recognize that tough economies are exactly the right time to take bold steps to change the status quo and leap ahead of the competition. Consistently delivering innovative and highly usable business-critical applications is often the key to capitalizing on this kind of market opportunity.  iRise visualization gives companies a powerful way to define applications right – the first time.  By enabling global organizations to “test drive” and fully experience systems early in the process, iRise is an essential strategy to consolidate application portfolios, accelerate delivery and leverage global sourcing without delays and cost overruns.

With thousands of projects completed successfully, the value of visualization has proven to be enormous for businesses in highly competitive markets:

• Get to market twice as fast;
• Eliminate 30% of project cost;
• Ensure success of global sourcing strategies; and,
• Dramatically improve customer experience

About iRise
iRise is the world’s leading provider of visualization software for business applications.    Visualization is quickly becoming a critical competitive advantage for businesses to more effectively communicate their needs to technology teams and give everyone involved the ability to fully experience applications before they are built.  Companies of all sizes like General Motors, UPS, Wachovia, Manpower, M.D. Anderson Cancer Center, and many others use iRise to “test drive” their applications before building, which accelerates time to revenue, improves customer experience, and drives costs down.  At iRise, our vision is that by 2020, all business software will be visualized before being built, the same way that every car, airplane, and building is visualized today.  Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley and Deutsche Bank, and has sales offices across North America.

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iRise is a registered trademark of iRise.  All other companies and products mentioned are trademarks and property of their respective owners.