SDaas for Hedge Funds

Introduction

Our client needed to maintain their legacy, bespoke systems in the short term, with the ultimate goal of replacing some of these with an off-the-shelf system, while enhancing and maintaining the remaining ones in the long term.

 

Challenge

  • Managing costs: a team comprising of three skilled financial software developers were a significant monthly costs
  • Reducing the risks associated with key man dependency
  • Transitioning from a bespoke to an off-the-shelf system

 

Synetec’s Solution

Having signed up for our SDaaS offering, our client was able to successfully cut their spend from £450k to <£100k.

We supported the operation of their legacy systems, and on an ongoing basis we also provided support for their remaining systems, including enhancements and updates.

By partnering with Synetec, our client had guaranteed support via our developer support desk, as and when it was needed.  By signing up to the SLA, they were no longer dependent on one person; on the contrary, they had an agile team with a host of complementary skills at their finger tips.

 

Results and Benefits

Synetec’s SDaaS offering has allowed the client to reduce their operational budget by >£350k.

By working with us, they significantly reduced their risk on key man dependency.  They essentially went from being dependent on three people, to having access to a highly skilled team of developers, at a significantly lower cost.

The client’s bespoke system is now in line with the latest technology and development methodologies.

The client has achieved their goal of gracefully decommissioning a large proportion of their legacy system and introducing the off-the-shelf system.

Whenever there is a requirement, our client has a full team available to help, without having excess team headcount throughout the year.  Requirements are actioned quicker, and the client is enabled to make better decisions using our insight into the industry, trends and business technology.

A further benefit of SDaaS is that we support our client with any additional ad hoc software development needs that arise.