A Comprehensive Guide to Smarter Solutions through IT

By: Deepali Biradhar, Business Analyst, RKC infotech (7/5/2009)

Introduction

Today, economic downturn and financial crisis are often heard in the present uncertain times. Obviously they are posing challenges, making it a necessity for all global financial institutions, companies and organizations to keep pace with their competitors. This white paper will give insight on how the right approach, business processes and technology can help achieve goals efficiently and cost-effectively.

Challenges

Data Management poses a challenge when different categories of data are not managed properly. One-size-fits-all approaches may not yield desired results. Consequently, accessing data from the external databases and storing it in proprietary databases can pose a challenge in many ways.

Identifying different aspects of security can be equally daunting. Unsecured data transfers can jeopardize the system entirely if reliable strategies are not adopted.

Another challenge surfacing is the flexible integration of existing systems. There will always be a risk involved, of data being lost, thus resulting in inconsistencies. Noting on a famous saying, To err is human, but there is no room for errors when dealing with such situations.

Solutions

By seeking IT service providers to get sophisticated customized solutions, companies can achieve their goals. Using good database design practices; application architects, designers and developers can help with data storage and accessibility issues.

Design involves breaking down the entire function into multiple processes to handle data storage while the database design helps maintain the data integrity thus minimizing duplication and redundancy.

Since Domain knowledge is very important, outsourcing to specialized IT service providers should be a top priority.

Advancements in the field of IT are tremendous. Achieving Information security does not have to break the budget. The competition, among multiple vendors, for a product provides options to get the best for less.

Leveraging IT creativity and adopting lean practices while staying aligned with business objectives are crucial to a solid infrastructure. Adhering to upward compatibility solutions help in reduction of future migration costs.

Adopting the above techniques will lead to the following benefits:
- Improving accessibility to reference data.
- Facilitating quick decision making due to the reduction of time required for analysis.
- Improving predictability and reliability by using automation tools.
- Achieving reduction in costs by efficient use of resources.

Products

At RKC Infotech, the client base ranges from non-profit organizations to financial sectors like Securities Firms. With a clear understanding of the Software Development Life Cycle, RKC Infotech adopts an eight-step development methodology for all its project undertakings.

1. Initial Preparation
Assignment of Personnel is carefully done based on closest match of domain, business and technical knowledge.

2. Requirement Analysis
Information is gathered from all sources of Client Organization to get a clear picture of the entire business.

3. Design and Specfication Phase
Study and Analysis are performed by System Architects, Analysts and Project Managers to choose the right fitting architecture, models and technology.

4. Development Phase
Different functionalities are grouped into separate modules which are then integrated into an application. Commonly used functions may be grouped as libraries for reuse.

5. Quality Assurance
This step, of testing a developed application, is the most crucial and intriguing. The system is validated thoroughly for all possible scenarios.

6. Production Phase
The implementation phase on the client site can be as stressful as much as it is rewarding. This phase is carefully handled, paying attention to every detail for a smooth transition.

7. Maintenance Phase
The system is maintained in various ways by monitoring logs and fixing bugs if the system encounters any.

8. Enhancements and Evolution phase
Any changes in Business Logic are reviewed and applied on a need basis.

Conclusion

Today, IT service providing companies must deliver solutions, beyond budgets and deadlines. The specialized team at RKC Infotech provides the essential guidance in achieving an efficient and cost-effective solution for all your critical business applications.