When helping financial service distributors procure new software systems we are frequently told a key criteria is speed of implementation. In addressing this criteria we typically question and probe further to understand exactly what the driver is for this and how much of a priority it is. If it is genuinely the key criteria, it is simple to meet. There are a number of excellent packages on the market that if put in with little or no change can be implemented quickly and efficiently. However our larger clients rarely just won’t out of the box functionality and require the system to adapt and change to their requirements and corporate infrastructure.
With this in mind we have developed a matrix which positions vendors against speed of delivery and adaptability. The pure packages score well on the speed of delivery but often poorly on the adaptability. In contrast the providers of bespoke solutions have very flexible capability but extended timescales for delivery. There is however a select few companies that have packaged based solutions that are sufficiently configurable to score highly on both axis. With the highest level of change and uncertainty in the market for many years this flexibility is a must for the larger distributors and these vendors are likely to continue to thrive despite the difficult market ahead.
