Product Development and Management Solution for Financial Organizations
The ability to launch new or modified products quickly and manage products efficiently over their entire lifecycle gives financial organizations an advantage over their competition. Imagine making a simple rate change in days or even hours, or being able to enter a new market within a few months.
By knowing your products, organizations can improve time to market, optimize operational
efficiencies by dramatically reducing the business and IT cost of product development, and
understand their entire product inventory allowing them to rationalize brands and simplify product
maintenance.
ProductAuthority®, a product development and management solution for financial organizations, creates agility by externalizing all product data and rules from multiple, hard-coded legacy systems into a central product repository, where products can be easily configured and modified.
With ProductAuthority financial organizations can easily achieve strategic revenue growth and asset
retention strategies, such as product bundling, customer-centric product packaging and pricing, and
cross-selling. ProductAuthority also enables risk management by tracking all product changes and
decisions as well as ensuring that all systems and employees are using the correct version of product
information.
Achieve speed to market and cost reduction with enterprise product agility.
Enterprise Product Agility is the ability to drive relevant products to the right customers ahead of the competition at speed and volume.
With ProductAuthority, financial organizations can develop new products, or modify existing products, faster than ever before. Capitalizing on a Service-Oriented Architecture (SOA), ProductAuthority enables financial organizations to create innovative products quickly, develop multiple products concurrently, minimize dependency on IT, and increase speed to market.
Streamline the product development process.
ProductAuthority® Lifecycle Manager gives financial organizations control over their business. It provides visibility into the product development process to track and manage tasks and all participants involved in product development and management. This reduces product development costs, eliminates bottlenecks to improve speed to market, produces quality products, and increases revenue by enabling concurrent product development.
Lifecycle Manager includes automated, collaborative workflows; a product catalog that houses that "one version of the truth" for all published products; product compare capabilities that enable you to easily identify key features for re-use or modification across multiple products; and the ability to test products before they are integrated into downstream systems.
Leverage technology assets and scale for the future.
ProductAuthority is designed to integrate new product development capabilities while taking advantage of the systems already in place. It's built with leading technologies, such as J2EE, SOAP, and XML and adheres to industry standards.
Integrating product definitions with legacy applications is simplified by using web services, which makes it easier for financial organizations to consolidate product information, manage products, and leverage existing enterprise applications. Close integration through web services eliminates manual processing and ensures that rules are applied consistently; product quality improves because the same product definitions can be used by multiple systems.
ProductAuthority integrates easily with existing and new applications. You choose the integration approach that best meets your needs, whether through SOA or tight integration directly with the system.
ProductAuthority Enables Financial Organizations to:
- Increase revenue potential by enabling product agility to respond quickly to market conditions.
- Accelerate speed to market through an automated, streamlined, consistent and repeatable product development process.
- Inherit and reuse product components stored within the central product repository to quickly and efficiently develop new or modified products - make simple product changes in days, not months.
- Ensure product quality by thoroughly testing products prior to launch.
- Eliminate bottlenecks and efficiently balance workloads to minimize delays by providing financial organizations visibility within the product development process.
- Measure the length of time it takes you to develop products from inception to launch.
- Dramatically reduce technology maintenance and product development costs and lessen dependency on IT resources.
- Empower product managers and business users with modern tools to develop their own products and automate the product development process.
- Capture market share and enable rapid product development by enabling concurrent product development.
- Improve product quality by reducing errors and overall product risk through testing and the consistent application of business rules.
