Compare and evaluate business applications to make the right choice when updating your financial systems
Banks and financial institutions are continuously evaluating new applications and systems. From legacy modernization initiatives to transformation programs, IT must help business owners choose the right product to fit business and strategic goals. A rigorous product selection process requires a comprehensive quantitative and qualitative assessment of the bank’s requirements versus product features covering business, functional, technical, process, cost, support, infrastructure and other key aspects. This process can require significant time and effort among key stakeholders and yet still fall short.
IPROD helps banks make more informed decisions when selecting new products
IPROD is a proprietary tool developed by Capgemini to enable quantitative assessment and comparative evaluation of business applications. The tool addresses business, functional, technical, process, cost, support, infrastructure and other key aspects and automatically generates the comparative analysis score and charts to present the findings in an intuitive manner for strategic decision making. While the tool is domain independent, we’ve used it extensively to help banks and financial services institutions make decisions on new or upgraded systems for trade finance, custody, core banking, and anti-money laundering. It provides a 360° assessment and comparative evaluation of business applications to help gather and analyze requirements, perform product evaluations, select final products, and make appropriate recommendations. The tool uses a parameter and scoring-based approach for quantitative evaluation and lets you compare multiple products across the same set of parameters and weightages.
Capgemini’s IPROD assessment tool ensures 360° coverage for product evaluation and has the flexibility to customize the parameters, weightage and other aspects to suit your organization’s unique requirements. This flexibility enables the tool to be used across different domain areas such as core banking and trade finance. The comprehensive product evaluation framework not only helps in selecting the right product but also provides a good insight into the requirements. The qualitative recommendations also consider the prevailing market scenario as well as business scenario.