Solutions
Overview
If your business relies heavily on using spreadsheets to synthesize decision making information, Proto Financial can increase quality of work, save time & cut costs.- Get more done with automated Proto dashboards. Proto frees valuable employees from wasting hours manually "running" spreadsheet-based reports.
- Reduce operational risks associated with complex, manual spreadsheet processes.
- Make better and faster decisions backed by superior analysis.
- Get in control of your technology roadmap and budget. Tame "out of control" spreadsheet processes now without sinking human and financial capital into major technology infrastructure (e.g. data warehouses). Then focus on strategic infrastructure needs with the perspective and freedom gained through solving real problems.
- Proto and the Spreadsheet Ceiling
- Our Process to Quickly Deliver Custom Solutions
- Getting Started
Proto and the Spreadsheet Ceiling
If your business is like most financial services organizations, you have one or more recurring spreadsheet-based business processes that fit this pattern:
- You have to bring together data from several sources in a spreadsheet. For example:
- Market data providers like Bloomberg
- Data exports from portfolio accounting and order management systems like Eze Castle Pulse or Macgregor XIP
- Proprietary spreadsheets or databases
- Third-party data files or spreadsheets from prime brokers, etc.
- Only one person in the office knows exactly how to run the process
- It takes hours to generate and involves several error-prone manual steps - e.g. updating formulas, pasting new data over old data, deleting columns, adding vlookups, etc.
- The result is a static top sheet that doesn't provide much ability to drill down, do "what-if?" analysis, or ask ad-hoc questions of the data
Spreadsheets provide a critical analysis workbench for the financial services industry. All too frequently, however, a spreadsheet-based process grows until it hits the "spreadsheet ceiling" described above. Traditional IT solutions lack the agility to solve these data integration, analysis and reporting needs, so the overly complex spreadsheet process remains a drag on resources and a source of operational risk. Proto Financial is uniquely capable of providing fast relief from these pressing spreadsheet headaches.
Custom Solution Development: Our Process
Proto Financial allows for rapid, iterative development of custom solutions. Our Services team takes full advantage of this ability to deliver first-cut solutions extremely quickly. Often, a custom dashboard will be running on your desktop within a week of beginning an engagement with our team. It has been our experience that nothing helps converge on the right set solution requirements as quickly and concretely as a functioning prototype, so that's where we spend our time. Through working with a broad away of clients, we've refined this process to deliver solutions that fit your needs in as little as 25% of the time and cost associated with traditional custom development initiatives.
Step 1: Characterize the Problem
Our consultants will work with you to identify the most important goals for the first iteration of your dashboard. This assures that we will deliver value quickly while informing the complete solution with a functioning, intermediate prototype.
Step 2: Identify and Test Data Sources
Next, we look at the data that will be combined, analyzed and presented in your dashboard. We will identify all the raw data sources, analyze and select the most appropriate way to pull the data into Proto Financial, and create a low-impact strategy to integrate the required data. This process helps to uncover missing data sources and manual cleaning steps that need to be built into your dashboard.
Step 3: Build Version One
Usually, our Services team will build a functional prototype of the solution offsite. Then, a representative will come to your location for installation and training. Once a real prototype has been used, almost without fail, new requirements are generated and old requirements are dropped. Put simply it is easier to identify steps 4, 5, and 6 when you can clearly see steps 1, 2 and 3.
Step 4: Iterate
Armed with a list of changes, our Services rep will make the necessary adjustments to your dashboard. Taking advantage of Proto Financial's flexibility and agility, these can often be done onsite during the same visit. Alternatively, we can work offsite and use screencasting tools to discuss progress. We repeat iterations until you are happy with the solution. Your internal developers or technically inclined business analysts can take over additional ongoing development with Proto Financial.
Step 5: Work is Completed
Our Services team is happy to provide ongoing support, or to work with people within your organization to bring them up to speed for ongoing maintenance and modification.
Read this case study to see how our process worked for a New York hedge fund.Proto Solutions: Getting Started
The fastest way to figure out if Proto Financial is a good fit for your business is to talk with one of our consultants. Email a question to our sales team and it will be turned around in less than 24 hours.