Improving Financial System Functionality

    45%
    Improved Productivity
    60%
    Improved System Functionality
Industry: Finance

Overview & Challenge

Our European client in the financial industry in the past years has been recognized as the company with the highest increase rate and between the top ten successful companies. A key to its success has been using technology to constantly improve their systems and provide the best service to their clients. To support its growth, our client has implemented a complex system where many users with different roles and permissions can perform different actions.

The system lacked one thing – whenever an action was performed which sometimes resulted in an unexpected situation requiring reverting there was no info as to what was changed and by whom, i.e. it was hard tracking the changes and the reason behind it. Moreover, when an application user changed some configuration parameters of the client’s profile unexpected balance change happened, leading to disruption of the automated processes for processing invoices and finally to affecting the overall client balance. The overall balance amount stopped changing because the invoices were not processed automatically anymore.

And this was a huge problem, especially when working in the finance sector, where the immediate response and solving of the unexpected mistakes is of utmost importance.

How to solve it?

Solution

After a thorough evaluation of the problem and the consequences of it, our PHP team proposed building a detailed activity log, along with an alert system. The purpose of the activity log was to show all the changes made in the client’s profile. As for the alert system, it was an addition that was specifically designed to trigger and send a message to the support group whenever some activity seemed suspicious so that they can react immediately.

Business Outcomes

The provided solution has enabled the client to be more agile, effective, efficient, and to improve its ROI. In addition, it elevated the client’s reputation among its users for quick resolution and no downtime period and mistakes. What the client received was:

  • Improved productivity for 45%
  • Improved system functionality for 60%
  • Decreased the time for mistakes alert by 70%

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