Firms rely on technology to meet regulatory requirements, create efficiency, and provide information that drives decisions to support business growth. Increasing volume, managing feeds from various custodians, carriers, fund companies and clearing firms creates complexity. Poorly tuned parameters and data quality challenges limit an organization’s ability to achieve its goals. It is important to routinely assess the tools used to perform mission critical functions in order to improve quality and efficiency, and to make sure you have a platform that can carry you into the future. Factoring in anticipated growth, new product offerings, business priorities and transaction volumes allows you to plan how your system will evolve rather than just reacting to problems.
Oyster can efficiently assess your technology requirements and current usage, and make practical and budget-conscious recommendations to leverage your firm’s use of technology. We can also help to determine if the technology that vendors are trying to sell you is the right solution at the right price, and will yield the promised results. Oyster can help analyze vendor agreements to reduce your exposure to risks and unnecessary costs. Oyster will work closely with your firm’s key business, technology, risk management, and user community stakeholders to comprehensively assess your current technology tools, understand current challenges and recommend ways to remediate any gaps.
Oyster technology reviews, customized to your firm, will assess your firm’s technology platform’s ability to support:
- Business Objectives
- Managing Business Processes
- Risk and Issue Mitigation
- Budget Management
- Regulatory Compliance
When Oyster reviews your technology, we will do so with a view towards managing or improving:
- Existing technology for automation
- Software Development Life Cycle and/or Agile Assessment IT Demand Management Process and Pipeline
- Platform scalability and performance
- Change Management and Business Readiness practices
- Vendor support
- Quality Assurance – testing, change control,
- User support and incident escalation management
- Business Continuity and Disaster Recovery
The Oyster Difference
Oyster recognizes that each client has a unique business model, and will tailor the technology review to meet your firm’s specific needs. Oyster’s technology and industry experts can be leveraged to perform a comprehensive assessment of your firm’s critical technology inventory and provide best practice recommendations. We have sat in your seat in our prior roles and will bring lessons learned and recommendations that will help you better manage risks, increase efficiencies and prepare for future business and regulatory challenges.