Total Outsourcing Case in Financial Industry

Client Overview
The client is one of the largest capital companies in China whose investor and its parent company is China Power Group. It is a non-banking financial institution providing group members with financial services, including banking services, asset management, settlement, entrusted loan, insurance business, etc. The client is the only Capital company in China which has sub-companies and its total assets are more than 15 billion USD.

Project Overview
Before 2004, the IT infrastructure of client had matured, but the IT applications were still in a very basic form. What they used as business processing system was a C/S model as against a centralized system. The accounting system provided very basic functionality. There was no integration or interaction between different systems. This case had seriously blocked the growth and innovation of business. For example, their accounting department had to spend most of their time making vouchers manually which were already prepared and stored on the computer by representatives. One other instance is that they could not deal with settlement across different sub-companies which are a much desired requirement.

It was 2004 that the client decided to start development of new IT applications and systems. RayooTech was selected as the software outsourcing company for developing the application and system. RayooTech was not only selected to work as software service provider in this project but also acted as planner and organizer. During the project, RayooTech helped the customer manage and coordinate with other hardware service providers and third party software providers.

Solution
Because the business processes were very complex, it became critical to learn their processes and reorganize them before starting software development. RayooTech professional business and IT consulting teams took about 5 months, working with client closely, to organize and design the business processes and come up with specifications which are not only a blueprint of business processes but also an input for the system construction. The following diagram shows the high level business logic:

a) Reusable modules and standard development model offered shorter development time and lower development risk. Thus decreasing software development cost.

b) Leading technology employed, enabled reliability and provided scalability.

c) Standard development and maintenance model decreased the maintaining cost.

Points of project