Few organizations are as reliant on technology as those in the Financial Services industry. Availability is not enough, speed and agility are critical, particularly when a millisecond delay can translate to millions in losses.
FireScope has extensive experience with customers such as Wells Fargo Bank, Harland Financial Solutions, Suncorp and many more, and are well aware of the unique requirements and environments of Financial Services organizations.
- High frequency trading platforms that have performance and availability requirements significantly higher than typical applications because millisecond delays can translate to millions in losses.
- A major shift in customer engagement resulting in customers interfacing with your technology more than your people.
- Higher regulatory scrutiny in wake of the recent financial turbulence that increases demands for data collection and security.
- Consistently large volumes of Mergers and Acquisitions that require special considerations for integrating new data centers into your operational strategy, quickly.
- Reliance on custom architectures that cannot be managed as easily as off-the-shelf software, necessitating the need for an easily customizable management platform.
The Unique Challenges of Financial Services Organizations:
FireScope is the leader in helping organizations align their technology with their business and their customers, and is delivering disruptive change to the service management space by providing instant access to critical pieces of actionable intelligence. A graphic example of the agility and rapid time to value FireScope delivers can be seen in this case study from Suncorp, where FireScope delivered a single view for their Business Critical Insurance Claims Platform in just 5 days, achieving what a Big-4 vendor failed to accomplish after over 12 months of effort.
The Anatomy of a Top-Down Approach
The average enterprise suffers 2.3 outages per year, each lasting 1 hour and requiring an additional 2 hours to restore services to 90% of normal operation. Each outage costs the business between $90,000 per hour in the media sector to about $6.48 million per hour for large online brokerages. In 74% of these cases, IT was unaware of these issues until users called the helpdesk.
These compelling numbers highlight that there is indeed room for improvement in the way organizations manage their technology environments.
This technical white paper takes a deep dive into FireScope's Top-Down approach to service management, which begins at the business outcome and user experience and works down through the underlying technology to provide more meaningful analysis of performance, is just the type of new thinking that the industry needs.Get the White Paper See all White Papers
Integrate, Consolidate and Simplify IT Operations
One of the biggest inhibitors to efficiency in IT is the fact that each team or functional discipline has their own toolset. IT Operations may have up to a dozen different monitoring and management tools, while the IT Service Management team has their own set of service desk, change management and other tools. Even if you go with a massive, overly complex suite of tools from one of the Big-4 (IBM, CA, BMC, HP), integration between these tools is limited and fragile. However, FireScope has found a way to enable seamless integration across IT teams with a simple, cloud-based approach that involves no writing of code, or a massive implementation project.
- FireScope discovers and maps critical IT services and provides real-time and predictive insight into how an organization's technology is delivering user experiences and business outcomes, delivered using a Software-as-a-Solution model.
- Data or events from your existing monitoring and management tools can be blended and correlated through FireScope to ensure that everyone in IT is on the same page.
- Tighter integration between IT Operations and Service Desk teams, due to FireScope's Bi-directional integrations with ServiceNow and Cherwell Service Management reduces the time between identification and resolution of service-impacting Incidents.
- Service Management teams are armed with accurate and relevant system-generated information, enabling more effective first time resolution when compared to often vague, user-reported issues such as ‘Email isn’t working.’
- No more blame game, wherein each team consults their own toolset, sees no obvious evidence of problems and directs the blame to other teams.
- Better visibility of the infrastructure reduces the time between identification and resolution of service-impacting Incidents.
Business Value and Capabilities
Single product solution versus complex suite of 18+ products required by Big-4 (BMC, HP, IBM, CA) monitoring and management suites.
No need to install, maintain dozens of servers dedicated to monitoring.
Reduce Vendor/Product Sprawl
Opportunity for tool set consolidation to reduce overall M&S costs.
Business/Technology Data Blending
Enables organizations to master the business aspects of IT and communicate the value of IT.
Easy Data Integration
Code-less integration and correlation of structured & un-structured data.
Simplified, Right-Sized Cost Model
Licensing based simply on number of CI’s.
Increased Operational Efficiency
Spend less time on root-cause analysis, resolve issues faster.
A proven ability to deliver user self-service improves agility and lowers the cost and pressure on IT operations.
Big Data (NoSQL)
Single data repository with high performance, virtually infinite growth capacity and built-in redundancy.
Collect virtually any metric and analyze across traditional silos to isolate the events that truly matter.