Misys (FTSE: MSY.L), the global application software and services company, today announced the launch of Misys Summit Quick Start - a new rapid delivery solution for banks and investment managers, which provides pre-packaged applications and services to support trading operations across all asset classes and enable firms to achieve higher returns on assets.
Many analysts and market commentators have noted that financial institutions are giving higher priority to IT projects that require lower capital investment and lower lead times. This need for reduced risk and visible savings during the financial crisis has driven Misys' investment in a new series of 'Quick Start' offerings, within which Misys Summit Quick Start is the second solution unveiled, following the release of Misys Opics Plus Quick Start in December 2008.
Misys Summit Quick Start has been developed by Misys to help firms meet the challenges of the current economic climate. It brings together a core solution which includes pre-configured modules of either Summit FT or Summit Invest - Misys' flagship cross-asset trading solutions for front-to-back office transaction processing and risk management - along with proven professional services methodology.
The new solution benefits firms in a number of ways. As with all Quick Start solutions, Misys Summit Quick Start provides reduced implementation risk due to Misys' proven methodology and successful track record of working with 140 Summit customers over the last 19 years. Misys Summit Quick Start also offers a much faster implementation time as it comes with a standard 4 month implementation timeframe; more than a 50% reduction compared with a traditional Misys Summit FT implementation. Finally, the latest solution promises better control and efficiency for customers due to the standardised package implementation that limits on-site configuration as a result of prior definition of standards.
Dan Cohen, Global Solutions Manager for Misys Summit FT comments: "Recent events have shown that silo-ed best of breed approaches don't always work. A pre-configured solution is valuable as it not only reduces implementation times, costs and time to market but also contains a wealth of knowledge we've built up from working with some of the world leaders built into the solution, ready for firms to take advantage of. Simply put, we feel we're offering financial institutions the most advanced functionality in the shortest timeframe to help them responsibly manage a wide range of financial instruments across front, middle and back office functions."