Numbering Product Versions Now Redundant In Financial Software
Bipsync champions continuous delivery to satisfy fast-changing needs of fund managers as latest release is 100th in 100 weeks.
NEW YORK, Nov. 30, 2016 /PRNewswire/ -- Bipsync, the Research Management Software (RMS) provider for investment firms, has called time on the cumbersome practices of software development for the financial sector as it releases its 100th successive version in two years.
The NYC-headquartered vendor, who counts some of the largest multi-billion dollar hedge funds amongst its fast-growing customer base and today introduces a new task management solution for its platform, points to mounting evidence that periodic, lengthy product cycles are becoming obsolete.
"Traditional product cycles leave investment management firms lagging behind," said Danny Donado, CEO of Bipsync. "Wait-times on new features, improvements and even bug fixes can be as long as six to twelve months in some cases. As market pressures, infrastructure, devices and regulations evolve rapidly, the challenge is on for vendors to shorten development cycles to deliver the timely innovations and stability fund managers now need to keep up with operational requirements."
Market Pressures Demand Speed and Agility
A recent report by KPMG[1] found 94 percent of fund managers believe technology investments will impact competition in the next five years. This increased reliance on technology in an industry where data volumes, investor due diligence and regulatory changes rise daily, has heightened demand for modern approaches to software development. Donado explained:
"This environment favors fast-moving firms that can adapt. Funds are realizing that continuous delivery and modern technologies can play an increasingly critical role in staying agile and competitive. This is especially true for front-office systems like research management, where speed, accuracy and accessibility have a direct impact on successful investment decisions."
Continuous Delivery in Action
Bipsync delivers a new software update to clients every 1-2 weeks. Its 100th version, released today, includes over 30 improvements and a major new feature, Tasks, to further increase the productivity of hedge fund research analysts and teams.
The new task management solution quantifies investment research processes into assignable tasks to enforce consistency and compliance across the fund. Enabling individuals and teams to keep project momentum moving forward, it introduces the ability to automate task creation based off external events and configurable internal rules, and acts as a single hub to assign, progress and view all tasks and associated context as part of an integrated research process.
Tasks follows a host of major Bipsync RMS features launched in the last six months including Research Automation Rules, New Stock Price Charts and Excel Field Sync. In total, the vendor has released over 370 improvements and new features in the year to date. Such a regular stream of frequent, quality software updates should, according to Donado, become the industry norm, rather than a rarity:
"Capital markets move fast, so too should the technology that underpins them. By using agile delivery models with modern techniques such as iterative development, test automation, continuous integration and automated infrastructure, our clients can be confident that their software is always up to date and at the forefront of RMS development. As funds work to remove the impediments of rigid, inflexible IT across their estates, the speed of software development has risen in priority. This has forced many vendors to re-assess slow or periodic product update cycles, a trend which we can expect to increase in the next two years."
Bipsync makes its software release details publicly available; all release notes can be viewed in full on the blog.
About Bipsync
Bipsync provides a research management platform to maximize the productivity of professional investors. Founded in Silicon Valley in 2012 by experienced investors and software developers, the company uses modern technologies and user-centered design to accelerate the entire research process from idea to investment, and identify insights that drive better decisions for investors and funds. For more information, please visit www.bipsync.com.
[1] 2016 KPMG/AIMA/MFA Global Hedge Fund Survey: (https://home.kpmg.com/xx/en/home/insights/2016/10/transformative-change-fs.html)
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SOURCE Bipsync
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