open source for banking, financial services and insurance sector

Benefits of Enterprise-ready Open Source solutions for the BFSI sector

July 2011

Benefits of Open Source

Clients that deployed Open Source saved an average of 93% in the first year alone over

solutions from IBM and Oracle

CIGNEX Confidential 2

Agenda • Open Source for BFSI

• Client Success Stories

• Open Source Integrated Content Management Portal (ICMP)

• CIGNEX Introduction

• Q & A


Typical Challenges faced by BFSI Clients

• Shrinking IT Budgets

• Lack of Flexibility

• Inability to Innovate

• Evolving Regulatory & Policy requirements

4 CIGNEX Confidential

Presenter

Presentation Notes

Shrinking IT Budgets on a/c of: Funding of new applications a challenge - Upfront Licenses, AMC and Implementation & Customization Cost of Maintaining existing software not coming down - AMC, Support team Lack of Flexibility Vendor lock-in - Costly upgrade process due to Product end-of-life Fear of Vendor sustainability - at the mercy of licensing policy of major ISVs; limited say in product road-map development; costly workarounds Lack of Innovation Lack of access to source code of 3rd party software Seamless expansion to adopt Social Media tools

Open Source in BFSI Ripe for adoption

• Financial Portals – SME, Private Banks, Corporate & Institutions, Hedge Funds – Intranet Portals, Client Extranet Portals, Mobile Portals

• Document, Contracts and Records Management

• Procurement and Invoice Management

• Business Process Automation

• Business Intelligence

• Enterprise Mobility


Leading Open Source Technologies for BFSI


The leading Open Source Enterprise Content Management (ECM) solution provider

Open Source alternative to: EMC Documentum IBM FileNet Oracle Web Center Content Microsoft SharePoint

The only Open Source provider of mailroom automation solutions, extracting data from documents in paper, fax and electronic formats

Open Source alternative to: Kofax EMC-Captiva IBM Readsoft

The leading provider of Open Source Enterprise Portal and Social Collaboration solutions

Open Source alternative to: Oracle Weblogic Portal IBM WebSphere Portal Microsoft SharePoint SAP Portal

Client Success Stories

How the adoption of Enterprise Open Source has helped global financial sector clients

reduce TCO


8

Representative Success Stories • Leading Integrated Financial Services company providing re-

insurance solutions – Alfresco-based automated invoice approval system through

intelligent business automation (workflow) – Reduced approval time from 1-3 weeks to 15-30 minutes

• Leading Asian Financial Services Group

– Alfresco-based online procurement & contract management solution improved operational efficiency, reduced cycle time

– Integrated with PeopleSoft Accounts Payable system – Rolled out across 6 Countries – Hong Kong, Taiwan, Indonesia,

Singapore, China and India – Over 70% reduction in cost over proprietary solutions

• Leading US based Insurance Company

– Alfresco & Drupal based public facing website, sophisticated workflow for training curriculum & schedule


Alfresco based Document & Records Management

• Financial arm of a major Japanese industrial and financial conglomerate

• Challenges faced – Inefficient semi-automated document

management workflow to publish financial, research and intra-day reports to customers in English and Japanese

– Increased legal risk due to lack of audit trail

• CIGNEX Solution – Standardized 6-step workflow - Create, Edit,

Supervisor Review, Legal Approval, Publish, Translate – to minimise compliance risk

– Seamless integration with all in-house applications across analytics, authoring, coverage, distribution and MIS

• The Benefits – Reduced report publishing time by 70% – TCO of the Alfresco based DM & RM solution

over 70% lower than alternatives – Eliminated vendor lock-in


10

Representative Success Stories • Leading global financial institution

– Feature rich collaborative portal with powerful CMS functionality including web 2.0 features, real time collaboration, personalization and Bankopedia

– Speedy updates & Marketing team in charge of content

• European leader in global banking and financial services – Client Portals across 4 segments - SME, Private Banks, Corporate

& Institutions and Hedge Funds – Mobile Extension of Client Portal under execution

• Leading Asian Financial Services Group

– Next generation Liferay Intranet portal with Web 2.0 features to enable engagement and collaboration among 16,000 employees

• Rich end-user experience through Events Calendar, Weekly Poll, Video, Stories, Documents, Visual Gallery

• Faster dissemination of information through a portal that is seeing high adoption

– CIGNEX solution 50% economical compare to other vendors CIGNEX Confidential 10

Liferay Portal for Innovation Management • Client overview

– 3rd largest Financial Services company in USA with $98.6 billion revenue

• Challenges faced – Improve Competitiveness by

• Empowering employees • Driving innovation & ideas • Improving internal communication

• CIGNEX Solution – Innovation Management System based

on Web 2.0 principles – Allows 300,000 employees to contribute

process improvement and innovation ideas

– Liferay Portal 5.2 integrated with backend systems and advanced dashboards


Open Source ICMP Solution

Integrated Content Management and Portal


Integrated Content Management Portal (ICMP)

• Powerful unified solution – Create, manage, personalize & deliver enterprise content

• Business operations • Documents and discussions • E-mail, Web pages, records and rich media

– Common content platform and repository

• One architecture, multiple choices – Flexible solution – Re-use of enterprise content across multiple delivery channels

• Internet, Intranet, Mobile, Promotion channels, etc.


ICMP Architecture


Internet Banking Mobile Banking E-Payments Social Networks

Ephesoft Scanners, Fax, Doc Capture

Benefits of ICMP • Increased productivity

– Improved communications with employees, partners, and customers

– Business in control • Business users in charge of content • Scalability -easy to add sites

• Lower TCO – Reduction in IT investments (Websites, ECM, AMC) through

unified Open Source architecture


“Posadas selected CIGNEX to create a state-of-the-art hospitality portal for the Posadas brands to enable strong brand recognition. CIGNEX was instrumental in architecting & delivering Phase 1 using Alfresco & Liferay, within a short span of six months. We are delighted with the next generation architecture which reduces the TCO by over 40% of our previous solution.”

— Leopoldo Toro Strategy & Innovation Director

Success Story

16

CIGNEX helped Posadas achieve their business and technology goals with an innovative Liferay Portal and Alfresco Web Content Management Solution & reduced TCO by over 40%.

Increased RevPAR

Reduced TCO Improved Guest Experience

CIGNEX Confidential

Presenter

Presentation Notes

#1 Mexican hotel chain with a significant presence across Latin America 2010 Revenue - USD 550 Million Hosted 3 Million guests in Y2010 11,000+ Staff 112 hotels and 19,849 rooms across Mexico, Brazil, USA, Argentina, and Chile Issues with current system Poor response time Page load time was greater than 4 seconds Lack of content publishing workflow and staging Information sprawl and duplication of content Legacy technology Lack of Web2.0 features & advanced search functionalities Cost of maintenance, support and enhancements Existing System J2EE based Portal Documentum ECM Disparate systems Lack of centralized database & collaboration Benefits Increased RevPAR Improved Guest experience Personalized & focused guest experience Ease of rolling out additional portals, based on business needs Reduction in the TCO of the web sites and ECM Over 50% reduction in AMC costs using Alfresco & Liferay Open Source solutions Reduced storage cost due to centralized repository

http://www.posadas.com/portal/landingpage/WebsitePosadas/index.html

CIGNEX

Brief Overview


What We Do

18 18

In the last 10 years, CIGNEX helped clients

save over US$ 500 Million by adopting Commercial Open Source Software

across 200+ implementations

CIGNEX Confidential

Presenter

Presentation Notes

Reduces Cost / TCO through License (eliminating vendor lock-in and associated licensing cost) Infrastructure (Open Source has minimal infrastructure requirements compared to Proprietary technologies) AMC (reduction in Annual maintenance cost) Manpower (team size reduction with Open Source adoption)

the Vision

To build a next generation technology services company that Makes Open Source

Work for Enterprises


Where We Can Help You

20

portals

intranets

extranets

e-commerce

content management

social collaboration

mobile apps

ICMP

integration & ESB

contract management

document management

records management

digital asset management

business process/workflow

business intelligence

SAP services and more …

Open Source Center of Excellence (CoE)

CIGNEX Confidential

DAM

Integration

Why CIGNEX?

• Aligned to Client Business Goals – Clients have saved over US$ 500 Million across 200+ implementations

• 400+ consultants with access to internal knowledge base – Developed over 10 years – Accelerated deployments

• Preferred relationship with Partners – Platinum Partner to Liferay & Alfresco – Global Partner to Ephesoft – Gold Partner to Magento Commerce, Acquia (Drupal), …

• Thought Leaders – Proven approach for successful Open Source adoption evolved along

with our clients


Presenter

Presentation Notes

Internal knowledge base Bug fixes & code base across multiple versions Accelerators like Migration tool kit and Frameworks Thought Leaders Authored 8 books on Open Source Contributions to Open Source Community - 3500+ forum posts + modules Conduct Certified Public & Private Training courses

Are you ready to migrate?

We make Open Source work, for you.

Munwar Shariff CTO

[email protected]

THANK YOU!


APPENDIX


How CIGNEX engages with Clients

24

Educate (Benefits of Open

Source)

Advise (Adoption – Partial /

Complete)

Manage (Transition & Integration)

CIGNEX Confidential

Our Enterprise Solutions Toolkit


200+ Successful Implementations worldwide

27

Telecom & Media

Healthcare

Banking, Financial Services & Insurance

CIGNEX Confidential

http://www.activision.com/en_US/home/home.jsp

http://www.google.com/imgres?imgurl=http://www.skillset.org/uploads/jpeg/asset_6300_hl.jpg&imgrefurl=http://www.skillset.org/games/qualifications/article_4406_1.asp&h=116&w=116&sz=40&tbnid=MnOoIGSDghoJ:&tbnh=116&tbnw=116&prev=/images?q=EA+logo&hl=en&sa=X&oi=image_result&resnum=1&ct=image&cd=2

http://prn.newscom.com/cgi-bin/pub/s?f=PRN/prnpub&p1=20031219/LLYLOGO&xtag=PRN-prnphotos-46699&redir=detail&tr=1&row=1

200+ Successful Implementations worldwide (Cont.)

28

Education

High Tech

Others

CIGNEX Confidential

http://www.ucsc.edu/

http://www.med.unc.edu/welcome.htm

http://www.posadas.com/portal/landingpage/WebsitePosadas/index.html

Recognition of Excellence

29

2010, Alfresco North America Partner of the Year

2010, Liferay Partner of the Year

2010, Alfresco Apac Partner of the Year

2011, GESIA – Best Software & Highest Employment Generator

CIGNEX Confidential

2006, IDC recognizes CIGNEX in the Open

Source Services Report

2008, Alfresco’s “WCM Implementation of the Year –

Activision”

2009, Alfresco Credit Crunch Innovation Award

http://www.alfresco.com/customers/awards/

Resources to help you!

30

…. to support the community and to perpetuate the adoption of enterprise class Open Source Solutions

30

Dr. Jonas Yuan Senior Technical Analyst

Munwar Shariff CTO

CIGNEX Confidential