A New York-based global investment banking company was spending an
inordinate amount of time, effort, and expense resolving fixed-income securities
trades that failed because of systems issues.
Due to a complex and constantly changing trading floor IT environment, it was
taking an average 47 minutes to find, diagnose, and fix a failed trade.
IPsoft’s IPcenter autonomics platform was selected to replace a failed runbook
automation tool project. To give IT management the confidence that IPcenter
would be successful, IPsoft provided contractually guaranteed levels of
automation after a short scoping assessment.
Within a month of implementing the IPcenter platform, 80% of failed trades were
resolved without human involvement. Only the most complex systems issues are
handled by engineers.
The result is a 93% reduction in average resolution and fix time, from 47 minutes
to 4 minutes, and a 35% reduction in staff costs.
The implementation was so successful that IPsoft is being implemented in other
business units, such as the bank’s wealth management division.