State Street Corp. Takes a Chinese Road to Supercharged Applications
Gartner [April, 2007]: case study What started as a small, offshore R&D facility for State Street Corp. (SSC) is now a fully fledged technology center (TC) in China that has re-engineered more than 100 of its legacy applications. The increased productivity has delivered more benefits than the labor arbitrage alone ever could. But the key to success lies in the innovative collaboration and relationships with local partners. Key Findings • Labor savings have been significant (approximately 25% of the cost for U.S.-based staff), but savings through revamped legacy applications have been even greater, avoiding expensive replacements. Re-engineering via the TC has been achieved for less than 2% of the cost of system replacement and has saved millions of dollars. • The TC has provided benefits at both the individual and the corporate levels. It has improved SSC's access to local IT talent and strengthened its overall commercial position (that is, its ability to attract new business in IT and financial services) in the region. • The first efforts should not be the last. SSC's technology center initiatives and joint ventures have constantly evolved in size, objective and nature during the past 10 years. • Supercharged applications can deliver greater productivity to specific silos. But to maintain overall end-user satisfaction, a corresponding emphasis is needed from the technology center on delivering superior quality assurance and system performance across the entire, interdependent IT infrastructure. Please contact us to get the whole PDF.
Hengtian is a technology services company in Hangzhou, China, an alliance among State Street Corporation, Insigma Technology (a Global Outsourcing 100 Company) and Zhejiang University (A Top Three University in China). Hengtian is dedicated to providing reliable and professional IT services and products for companies at home and abroad. The company offers enterprises customized software development services and IT products and solutions in relation to finance, manufacturing, and retailing, to name a few.