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Sofgen India Private Limited

Perungudi, Chennai, Tamil Nadu

| GST  33AAFCS6589J1ZT

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Sofgen was founded in 1999 and today is expanding throughout the world, with principal offices in switzerland, the united kingdom, the united states, india and singapore, in addition to a micro finance practice based in kenya. we deliver it solutions to some of the world? S most prestigious financial institutions, with a special focus on private banking and wealth management. Our team contains a wealth of highly impressive business and technical consultants with an unmatched level of experience in various core banking systems. Our services cover the entire system life cycle, from requirements analysis and system selection to implementation and ongoing post implementation support. with each new client sofgen follows a simple and effective philosophy: we want to become your trusted partner in developing, running and maintaining your core systems so as to enable you to succeed over the long term. Whether you are setting up or already established, sofgen will invest with you to ensure that we cover your needs as your business evolves. our logo is a runic inscription from ancient times called a "jera," which symbolizes the sowing of seeds ultimately generating harvest, success and abundance. It represents the effort sofgen invests in cultivating our clients success, resulting from the close partnership we build with our customers over time.+ Read More

Nature of Business

Service Provider

Year of Establishment

1999

Legal Status of Firm

Limited Company (Ltd./Pvt.Ltd.)

GST Number

33AAFCS6589J1ZT

Due Diligence Services
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Due Diligence Services

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Mergers and acquisitions constitute one of the most significant drivers of IT System Change. Any system implementation arising as a result of a merger commences in most cases with a Due Diligence Investigation.A transformation roadmap is created which sets out the scope and timing of the program. The items in the roadmap, whether project or service elements, are the specific routes the bank has to travel on its journey to successful organizational and technological integration.

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System Architecture And Planning Services
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System Architecture and Planning is the bridge between the Design Document and the System Build. SOFGEN´s most experienced consultants provide inputs as to the overall configuration of the system. They map the functional design of the system to the software and they outline the overall framework and structure which will apply to the System Build, as well as parameterization, coding, customizations and local developments.This activity is particularly important because of the effect that system architecture has on system maintenance overhead a key component of TCO and functional integrity, and important driver of user satisfaction.

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Testing Services
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Testing Services

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SOFGEN consultants have experience with the entire test cycle and provide assistance in the following areas:
Testing Strategy and Design
Test Automation
Banking Software Vendor Management
Module Testing
System Integration Testing
Regression Testing
User Acceptance Testing
Offshore Testing

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Handholding, Troubleshooting And First Aid Services
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Typically, Handholding, Troubleshooting and First Aid services are required immediately after the "Go Live" of an implementation or upgrade, when the new or enhanced system is used in Production for the first time. Where SOFGEN is responsible for an implementation or upgrade, we coordinate the physical presence of vendor help desk staff immediately before and after any "Go Live" to improve response times on critical issues. The physical proximity of vendor staff to SOFGEN staff helps with communication, error replication and context and enables better access to the vendor help desk.

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Run The Bank Services
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Run The Bank Services

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We are true partners with our clients, and work hand in hand over the long term to bolster each bank´s success. That is why we emphasize the post-implementation process just as strongly as the pre-implementation and implementation steps.
Run the Bank support involves:
Stabilization and optimization of IT operations after "Go Live"
Setting up of processes and procedures to operate the new system (for new implementations)
Managing the release of new functionality, fixes or patches into the production environment
Ensuring the efficient day to day running of the system
Providing close of business and after-hours support

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Offshoring & Outsourcing Services
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With the current push to minimize implementation costs and total cost of ownership, all service providers with global pretentions require offshore facilities. Approximately one third of any implementation may be run offshore and extensive operational and post-implementation support may be provided from such locations.

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The need for a strategic business review normally arises out of a business imperative driven by market conditions. For the division, service or market in question, our consultants draw upon their knowledge of the business and technical aspects of the banking industry to craft a clear picture of the bank´s goals and requirements.

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SOFGEN´s seven-step implementation methodology is based upon the result of years of experience in the field. In the mid 90´s a UK based consulting group studied 1,800 failed IT projects and by inference determined that 11 critical success factors (CSFs) invariably determined whether a project would succeed or fail.

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Project Planning, Scoping And Estimating, Sofgen Grid Service

Underlying all plans, schedules and work breakdown structures is the SOFGEN GRID™ which breaks down every implementation project into approximately 1,600 constituent activities, 800 for the customer and 800 for SOFGEN and its partners in the case of a complete implementation, less if the project is smaller. The SOFGEN GRID clearly lays out the time commitments of the customer as well as each consultant and third-party vendor involved in the project.

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The Functional and Technical Design expands upon the Business Requirements Analysis. Where the business analysis describes needs, the Functional and Technical Design describes the complete solution to the bank, the Design Document being the deliverable.

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If a bank is to derive genuine value from its software implementation exercise, then it needs to avoid simply replicating the "As is" situation in the new system. This need not be the case, for putting a new core banking solution in place actually presents a golden opportunity to the bank to improve its organization and processes.
The opportunity notwithstanding, success in Business Process Engineering (BPR) is not a given. It requires consultants with a deep knowledge of the target software, with expertise in integration processes and a focus on process dynamics and organization that only come with superior client handling skills coupled with years of experience.

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GAP Analysis Services

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Even the most powerful software cannot cover the requirements of every bank and SOFGEN consultants compare the software against the Design Document and the System Architecture Document in order to determine what additional functionality (if any) is to be developed. In order to keep local developments and customizations to a minimum, any additional functionality should be fully justified.

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Depending upon data and transaction volumes, it may be decided to conduct benchmarking tests, in order to insure that the system solution will work adequately on a particular hardware and networking configuration. SOFGEN has extensive experience conducting benchmarking exercises on a variety of server platforms, including IBM, HP, and Sun. Leading hardware vendors provide sophisticated offsite environments which simulate network traffic so as to enable banks to ensure that any envisaged system can handle expected data and transaction loads.

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Data Migration Services

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One of the most vital − and delicate − tasks undertaken in a new system implementation is the migration of data from a bank´s legacy system(s) to the new core banking system. Keeping accurate data, from customer account information to granular transaction details, is the lifeblood of the banking business. SOFGEN undertakes a comprehensive review of existing data, studying the many challenges involved in reconciling the old and new systems. Once the studies are complete, we deliver a Data Conversion and Reconciliation Strategy Report that describes the data migration approach (manual vs. automated, for instance), the automated data conversion and reconciliation routines required, and the reconciliation approach to be used.

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System Audit Services

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SOFGEN recommends that Systems Audits be conducted within three months of "Go Live" of any implementation project. The SOFGEN Executive Committee comprises a Director of Quality Assurance whose prime responsibility is to ensure that the quality of each and every implementation delivered by the company meets the best standards in the industry.We are frequently requested to perform audits for 3rd party implementations; our Principal Consultants spend between three and ten days on site and deliver an audit report covering all aspects of the project and its deliverable, or in the case of a mature system, the current system status.

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The life of a core banking system is usually between 5 and 15 years. This means that SOFGEN spends as much effort maintaining banking systems for its customers as it does implementing new ones.The systems environment is changing continually. Regulatory requirements change (SEPA, MiFID to name but two), software patches are released, interface layouts from 3rd party systems are updated or amended, group reporting requirements are changed and hardware infrastructure and operating system software is upgraded and the business requires the development of new functionality. All of these events affect the core banking system over its lifetime and lead to a need for ongoing system maintenance.

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Business Requirements Analysis Services
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The first step in selecting/implementing or re-implementing a core banking system is to analyse the business requirements of the organisation and to deliver a Business Requirements Review.
If the envisaged implementation is as a result of a merger, then typically, the requirements analysis will build upon Due Diligence documentation. If it is as a result of a material change in business conditions, then in all probability a Strategic Review will precede the business requirements analysis. If the bank´s legacy system is simply obsolete, then SOFGEN consultants invariably commence this activity from scratch.

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System Build and Development Services
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Based upon the design deliverables, the system may be built.
This involves the following iterative process:
Module Key Parameter Configuration
Building of Local Developments and Customizations
Interface Build
Unit Testing by Business Analysts & Developers
Functional Testing and prototyping with Key Users
Progressive integration testing

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Interface Development Services
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SOFGEN has extensive experience both on the core banking side as well as on the third party interface side. Interfacing involves far more than simply mapping fields from source to target systems; we have designed solutions covering a full range of complexity, from generic data import and export to internal and external event identification which in turn drives automated workflows.We utilize existing interface solutions packages, create customized solutions or implement our own proprietary software product, the SOFGEN Event Manager. Clients who opt to use the Event Manager benefit from reduced implementation times as well as a generic interface portal which lowers ongoing interface maintenance overhead and thus contributes to lower TCO.

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Version Upgrades Services
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SOFGEN has extensive experience in upgrading clients to newer versions of their core banking systems. These years of experience result in well planned, timely, and efficient upgrades.

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With our global reach and knowledge of leading banking systems, SOFGEN is able to advise clients on all aspects of system replacement and selection. We provide you with an effective framework for evaluating and selecting a software vendor and where necessary, an implementation partner.

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The need for End User Training arises either as a result of change at an existing customer or as part of an implementation project where users, support staff and project team members need to be trained up prior to "Go Live".

SOFGEN provides:

  • Generic Training for end users
  • Tailored Training courses in which the course material is adapted to the customer´s business processes.
  • Technical Training for bank support staff
  • Core Team Training for project super users

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