Apr. 01, 2009

While there is no secret sauce to building and implementing client-facing systems, financial firms tend to minimize failure rates by utilizing ISVs and extensively documenting business requirements. Seasoned ISVs allow firms to quickly create and roll out custom applications that can increase firm revenue, profitability, and ROI. With respect to enterprise and back office systems, however, financial firms should not try to build from scratch. They realize no competitive advantage from payroll vendors or employees. In this sense, financial firms tend to have many of the same issues as the rest of the corporate world.

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