Holistic administration of diverse tech stack achieves 24/7 business continuity, 25% more system uptime, and 99% SLA compliance while adapting to dynamic demand.
Client
A leading manufacturer of roofing materials
Goal
Achieve seamless, 24/7 operations with >95% SLA compliance while efficiently managing diverse technology platforms.
Tools and Technologies
.NET Azure applications and services, Sitecore, MuleSoft, Google Cloud Platform (GCP), PeopleSoft, Salesforce
Business Challenge
Ensuring uninterrupted 24/7 business operations involves supporting and maintaining critical applications across diverse technology stacks. This includes achieving near-perfect Service Level Agreement (SLA) compliance by consistently delivering response and service levels exceeding 95%.
Managing a complex technology ecosystem spanning platforms like .NET, Azure, Salesforce, Sitecore, MuleSoft, GCP, and PeopleSoft, requires expertise and coordination. Additionally, the roofing industry's seasonal nature and frequent deployments lead to unforeseen spikes in incidents and requests, demanding dynamic resource allocation and effective load-management strategies to efficiently meet unpredictable demand.
Solution
- Cross-training of an agile team on all platforms, enabling them to handle spikes without SLA impact, shifting focus dynamically
- Proactive use of monitoring tools and automation, which reduced incidents and resolution time by addressing issues early
- A Gen AI-powered knowledge base documented resolutions, enabling faster, accurate incident handling
- Ensured seamless communication across platform systems, like Salesforce and PeopleSoft, for quick integration fixes
- Regular customer feedback loops and monthly reports aligned system performance with business needs, highlighting insights and improvements
Outcomes
- Near-perfect SLA adherence at 99.9%, ensuring minimal business disruption on an ongoing basis
- Managed 1,100+ incidents per month with a decrease in resolution times stemming from proactive monitoring and streamlined processes
- 25% uptime improvement from proactive maintenance, ensuring high application availability and minimal downtown
- 24/7 load handling that effectively managed spikes during demand surges, maintaining SLAs without extra resources
- Continuous optimization from regular RCAs (Root Cause Analyses) and process enhancements, which reduced incidents and improved system efficiency
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Modernized Payments Hub Improves UX and Compliance
Modernized core payments engine elevates client experience through seamless integration and increased functionality.
Client
U.S. operations of a leading Japanese bank
Goal
Modernize payments architecture to streamline processing and improve client experience
Tools and Technologies
Jenkins, Kafka, Spring, Oracle, JBoss, React, Elastic Search, Java, Node.js
Business Challenge
The evolving payments landscape, with the introduction of ISO 20022 and the dynamic nature of the regulatory environment, necessitated advancement in the bank’s payment processing capabilities.
The lack of a modern architecture hindered client experience, with multiple channels initiating various payment types that required complex processing.
Solution
Our team built a centralized payments hub to orchestrate data flows between payment initiation systems and product processors. The steps:
- Designed a flexible and scalable microservices-based architecture to facilitate translation, enrichment and processing of payment transactions
- Built a messaging layer to streamline data flows between systems, through support for various modes of interaction, e.g., MQ, API and file (canonical / industry standards such as NACHA, SWIFT, JSON, etc.)
- Introduced an API gateway to handle multiple payment types to enable channel agnostic payment capabilities
- Deployed a modular approach to support existing and new systems with isolation of core and product processors and avoid redundancies in capability builds
- Developed a React-based UI as the touchpoint for integrations between the payments hub and other systems
Outcomes
- A core payments engine capable of seamlessly integrating with multiple, complex systems
- Superior client experience, resulting from a holistic view spanning initiation, payment rails, and clearing
- A modernized payments platform that is ISO 20022-compliant and future-ready for processing and reporting needs
- Faster implementation of functionalities for payment processors
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New IT ecosystem earns 100% satisfaction rating
Redesigned application and support system overcome multiple process challenges that were causing costly delivery delays and widespread dissatisfaction.
Client
A leading global standards organization
Goal
Improve coordination across teams, reduce delivery delays, and streamline support processes for global users
Tools and Technologies
.NET Core, Vue.JS, Python, Docker, Kubernetes, Azure, Angular, Cosmos DB, MS SQL Server, PowerBI, Redis, Azure Functions, Azure Data Factory, Azure App Service, Spring Boot, Java
Business Challenge
The IT ecosystem was spread across multiple vendors and in-house teams, creating significant coordination overheads and challenges. These issues led to member organizations expressing dissatisfaction due to delivery delays and high turnaround times on incidents and problems.
The teams also had to support users across various geographies and time zones, further complicating operations. A lack of standardized customer service processes and knowledge base documentation also hindered issue resolution. Additionally, the teams struggled with awareness of client-specific standards and applications, while needing to handle ad hoc requests and support teams with customer service-specific projects.
Solution
- Three-week discovery phase and six-month transition plan covering 10+ applications, 24/7 Level 2 support, and infra support
- Established service and operations management processes, including governance, tools, and KPIs for agile and ITIL processes
- Set up and maintained Freshdesk ticketing system to manage user requests
- Created detailed SOPs and canned messages in Freshdesk for BAU tracking
- SLA collaboration - worked with L3 team to define resolution SLAs for critical tickets
- Created weekly and monthly reports to track requests, issues, and risks
- Set up a standard process with client to handle access-related requests
Outcomes
- Zero downtime deployments
- Faster on-boarding of member organizations
- Continuous reductions in infra costs on quarter-to-quarter basis
- 100% response and resolution SLA that led to 100% customer satisfaction
- Timely access to all applications for business users
- A one-stop shop via Freshdesk for all ticket information and data for all stakeholders
- Expertise on global standards enables ideas and suggestions to optimize the process for continuous improvement
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Automated POD improves turnaround time 95%
Optimized Proof of Delivery documentation improves productivity by 87% and billing cycle by 35%.
Client
Leading supply chain brokerage
Goal
Automate Proof of Delivery documentation process to increase efficiency and accuracy in data upload, validation and invoicing
Tools and Technologies
UI Path Orchestrator, UI Path Document Understanding, Microsoft Power BI, Oracle Transportation Management
Business Challenge
Proof of Delivery (POD) is a document that confirms an order has arrived at its destination and was successfully delivered before the invoice can be billed for payment.
Lack of an electronic POD system leads to inefficient, manual processing due to varied legal and contractual documentation requirements, resulting in longer billing cycles. Diverse formats and layouts from different carriers complicate data extraction from paper-based PODs.
Solution
- Developed a Document Processing Bot with UI Path AI Center, leveraging Document Understanding and Optical Character Recognition for managing various carrier documents
- Optimized data models for major carriers, focusing on the top five document types that represent 80% of the volume
- Implemented UI Path Action Center's "Human in the Loop" to handle exceptions and conducted 6-8 weeks of rigorous training on the Document Understanding model to ensure accuracy and meet confidence targets
Outcomes
- Achieved a 95% reduction in POD turnaround time, dropping from 48 hours to 2 hours, significantly boosting customer satisfaction
- Enhanced productivity by 87.5%, confirming receipt and condition of freight efficiently
- Reached 80% process accuracy, with continuous enhancement via automatic retraining
- Cut the billing cycle by 35%, allowing immediate use of data for customer invoicing
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Automated scheduling bots boost productivity by 50%
Major productivity gains and increased customer satisfaction from using 24/7 automated bots in place of manual scheduling.
Client
Leading supply chain brokerage
Goal
Automate the manual, supply-chain scheduling process to improve staff productivity and customer satisfaction
Tools and Technologies
UI Path Orchestrator, UI Path Assistant, Microsoft Power BI, Office 365
Business Challenge
Performing crucial supply chain logistics, a provider’s operations team was struggling due to the high volume of scheduling appointments with shippers, receivers, and carriers, which involve back and forth emails, phone calls, or manual data entry into multiple Transport Management Systems (TMS).
These appointment-scheduling complexities vary based on the parties involved, from sending an email requesting appointment times to accessing a TMS and selecting what’s available as per their schedule.
Lacking proper analytics, sales representatives were unable to pinpoint peak appointment times, track cancellation rates, or discern customer preferences, often leading to shipment delays and incurred detention charges.
Solution
- Deployed multiple rule-based, automated workflows to pull information from incoming appointment requests (from emails, web forms, etc.) and automatically input it into the various TMS used to book pick-up and delivery appointments
- Developed a Power BI dashboard to visualize appointment trends, peak times, and cancellation rates, providing insights into customer behaviors, including frequent reschedules, preferred times, and typical lead times for booking appointments
- Delivered a reusable solution that could be leveraged for other business areas
Outcomes
- Bots operating 24/7 have led to over 15,000 monthly appointments being scheduled, resulting in a 50% reduction in manual scheduling hours
- The productivity of the operations team has improved by 50%, enabling staff to concentrate on high-value tasks rather than manual appointment-booking
- The increased accuracy in scheduled appointments has significantly decreased detention charges, thereby boosting overall customer satisfaction
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Unified automation strategy enhances efficiency
Automated platform engineering solution improves reliability and lowers costs by 20-50% each for a leading payroll and HR solutions provider.
Client
Leading payroll and HR solutions provider
Goal
Develop automation strategy and framework that accommodates growth and ensures efficiency
Tools and Technologies
Ansible, AWS, Dynatrace, Gremlin, Groovy, Jenkins, Keptn, KICS, Python, Terraform
Business Challenge
The SRE (Site Reliability Engineering) shared services team faced a diverse set of needs relating to automation of infrastructure and services provisioning, configuration, and deployment.
The team was encountering resource constraints, as limited in-house expertise in certain automation tools and technologies was causing delays in meeting critical automation requirements. They also needed to ensure system reliability and were challenged to scale automation solutions to accommodate increasing demands as operations grow.
Solution
- Development of a comprehensive automation strategy to align with objectives, encompassing Terraform, Ansible, Python, Groovy, and other relevant technologies in the AWS environment
- Leveraging our expertise to bridge the knowledge gap, provide training, and augment the client team in handling complex automation tasks
- Implementation of a chaos engineering framework using Gremlin, Dynatrace, Keptn, and EDA tools, to proactively identify weaknesses and enhance system resilience
- Creation of a scalable automation framework that accommodates growing needs and ensures long-term efficiency
Outcomes
- A unified automation strategy that streamlined processes, reduced manual effort, and enhanced overall efficiency by 30%
- The implementation of chaos engineering and self-healing practices, which increased reliability between 20% and 50%
- A reduction in manual interventions along with improved efficiency that will result in cost savings of 25% - 50%
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Quality engineering optimizes a DLT platform
Reliability, availability, scalability, observability, and resilience ensured; release cycles and testing time improve 75% and 80%.
Client
A leading provider of financial services digitization solutions
Goal
Reliability assurance for a digital ledger technology (DLT) platform
Tools and Technologies
Kotlin, Java, Http Client, AWS, Azure, GCP, G42, OCP, AKS, EKS, Docker, Kubernetes, Helm Chart, Terraform
Business Challenge
A leader in Blockchain-based digital financial services required assurance for non-GUI (Graphic User Interface), Command Line Interface (CLI), microservices and Representational State Transfer (REST) APIs for a Digital Ledger Technology (DLT) platform, as well as platform reliability assurance on Azure, AWS services (EKS, AKS) to ensure availability, scalability, observability, monitoring and resilience (disaster recovery). It also wanted to identify capacity recommendations and any performance bottlenecks (whether impacting throughput or individual transaction latency) and required comprehensive automation coverage for older and newer product versions and management of frequent deliveries of multiple DLT product versions on a monthly basis.
Solution
- 130+ Dapps were developed and enhanced on the existing automation framework for terminal CLI and cluster utilities
- Quality engineering was streamlined with real-time dashboarding via Grafana and Prometheus
- Coverage for older and newer versions of the DLT platform was automated for smooth, frequent deliverables for confidence in releases
- The test case management tool, Xray, was implemented for transparent automation coverage
- Utilities were developed to execute a testing suite for AKS, EKS, local MAC/ Windows/ Linux cluster environments to run on a daily or as-needed basis
Outcomes
- Automation shortened release cycles from 1x/month to 1x/week; leads testing time was reduced by 80%
- Test automation coverage with 2,000 TCs was developed, with pass rate of 96% in daily runs
- Compatibility was created across AWS-EKS, Azure-AKS, Mac, Windows, Linux and local cluster
- Increased efficiency in deliverables was displayed, along with an annual $350K savings for TCMs
- An average throughput of 25 complete workflows per second was sustained
- Achieved a 95th percentile flow-completion time that should not exceed 10 seconds
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NMSDC Annual Conference & Exchange October 2024
Connect at the 2024 NMSDC Conference & Exchange
Meet Venkat Laksh and Swarnendu Banerjee at this year’s National Minority Supplier Development Council Conference in Atlanta and learn about advanced technology services from Iris, a certified MBE.
Annually certified by the National Minority Supplier Development Council (NMSDC) as a Minority-owned Business Enterprise (MBE), Iris is pleased to again participate in its annual Conference & Exchange. This year, it’s at the Georgia World Congress Center in Atlanta from October 20-23, 2024, and the theme is Defining New Norms.
Venkat Laksh, Global Lead - Insurance, and Swarnendu Banerjee, Client Partner - Life Sciences, will represent Iris. Connect with them at the Conference to learn how Iris has provided technology services and solutions to Fortune 500 and other companies in multiple industries for more than three decades. With our experience in Application Development, Automation, Cloud, Data Science, Enterprise Analytics, Integrations, Quality and Software Engineering, applying emerging technologies such as AI, Generative AI and Machine Learning, Iris advances clients’ digital transformation journeys while supporting their diversity, equity and inclusion (DEI) commitments. Our deep domain knowledge encompasses the banking, financial services, insurance, life sciences, manufacturing, pharmaceuticals, transportation and logistics sectors.
Iris is also certified as a top employer and award-winning workplace culture. Our story of success and growth in the technology business aligns with NMSDC’s mission and the goals C-suite executives and supplier diversity, hiring and procurement professionals attending the 2024 Conference.
Connect with Venkat and Swarnendu at the 2024 Conference or afterward to discuss how Iris’ capabilities can help your enterprise realize the benefits of innovative, future-ready technology. You can also visit industry-specific tech services to learn more and contact us.
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Get in touchITC Vegas – The Frontier of Insurance Innovation
ITC Vegas - the Frontier of Insurance Innovation
Meet Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at InsureTech Connect 2024 to discuss advanced technology services and transformation for insurers.
Meet Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at the Frontier of Insurance Innovation - the Mandalay Bay in Las Vegas, Nevada, from October 15-17, 2024. That’s the theme, place and date of this year’s InsureTech Connect (ITC) annual conference, billed as the industry's largest, with 9,000+ attendees - insurers, reinsurers, brokers, risk managers, investors, and technology solution providers, such as Iris Software.
Technology and innovation topics, mainly related to AI/Generative AI and Data, again dominate the agenda as they continue to be pivotal to the insurance industry. Here are examples of the sessions each day:
- Insurance in the AI Age
- 100x your Underwriting & Claims Performance with AI
- Driving Profitability with AI-Powered Externalized Rating and Underwriting
- Insurdata Revolution: Unleashing the Power of Analytics for Innovation
- The Role of AI and Data Analytics in Commercial Insurance: Driving Efficiency and Accuracy
- Building the Future: Responsible AI and Gen AI in Property Insurance
- Beyond the Hype - The Real Potential of Gen AI for Individuals, Insurers and Our Industry
- How Insurance Firms Drive Award-Winning Customer Experiences with Data and AI
- Insuring for Cyber Losses for SME's: An AI-led Approach to Estimating Loss Coverages
- Claim Smarter: Leveraging AI for Precision, Speed and Sustainability
Insurers can ensure their enterprises are future-ready, scalable, secure, cost-efficient, and compliant, by smartly employing next-generation, emerging technology through a highly-experienced insuretech services provider. Talk about your digital priorities with Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at ITC Vegas 2024, and learn how leading insurers are applying Iris solutions in AI/Generative AI/Machine Learning, Application Modernization, Automation, Cloud, Data Science, Enterprise Analytics, and Integrations, to advance their digital transformation goals.
You can also contact Venkat and Glenn to learn more about our InsurTech Services that help future-proof insurance enterprises here: Insurance Technology Services | Iris Software and read a few of our Gen AI success stories and insightful perspective papers, including Gen AI – powered summarization boosts underwriting policies and compliance workflow and How Gen AI can transform software engineering.
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Get in touchMeet us at the NY FIA Forum: Treasury Clearing 2024
Meet us at the NY FIA Forum: Treasury Clearing 2024
Iris New York City-based financial services professionals are attending the Forum, where clearing capabilities and new regulatory mandates are the focus.
The FIA (Futures Industry Association) is hosting a forum on treasury clearing on October 15, 2024 at the BNP Paribas Tower in New York City. The theme is The Evolution of Agency Clearing and a major focus is on clearing model development and new regulatory mandates. Attendees can have beneficial discussions on these topics with experienced financial services professionals from our New York City office who are attending: Jatin Shah and Ryan Fagan, Senior Client Partners, and Jesse Regina, Account Manager.
According to its website, FIA is the leading global trade organization for the futures, options and centrally-cleared derivatives markets, which are key to the global economy as they allow for price discovery and risk management. FIA represents various market participants, including exchanges and clearinghouses, executing brokers, proprietary trading firms and others. The U.S. SEC (Securities and Exchange Commission) has mandated the clearing of certain treasuries and repos (repurchase agreements) by 2026, and many participants in the cleared derivatives markets are impacted and making plans for their operations, technology, compliance, compliance.
Session topics will include: the benefits of expanding central clearing and considerations for implementing the SEC’s central clearing rule; how clearing reduces counterparty risk, settlement flows, fails, and establishes consistent and robust risk management practices for clearing; client clearing access models, margin practices, and the possibility of multiple central counterparty entrants to the U.S. treasury market, which pertain to the new mandate; bank capacity and structural needs for clearing success; and the challenges and opportunities seen by buy-side participants.
Iris is a key provider of technology services to leading global banks, wealth management, brokerage and financial services companies operating in the capital markets and related sectors and as counterparties. Per the FIA, asset managers, hedge funds and principal trading firms will all be affected by the clearing mandate, but each type of market participant will have different needs and operational challenges as they comply. Learn how these entities can and do apply Iris’ deep domain knowledge and experience and our advanced technology solutions - in AI / Gen AI / ML, Application Development, Automation, Cloud, DevOps, Data Science, Enterprise Analytics, Integrations, and Quality Engineering - to enhance security, scalability, cost-efficiency, and compliance in myriad platforms, processes and systems supporting clearing, settlement, currency and major transactions.
Contact Jatin, Ryan, Jesse and our entire team of experts and obtain more information here: Iris Software Banking and Financial Services. You can also read our pertinent, insightful perspective papers, including: Navigating Distributed Ledger Technologies; Real-world Asset Tokenization and Productionizing Generative AI Pilots.
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