CIMdata PLM Industry Summary Online Archive
August 28, 2007
Implementation Investments
Philadelphia Stock Exchange Transforms IT Process and Workflow With Serena Software
Story Content Goes HereSerena Software, Inc. today announced that Philadelphia Stock Exchange (PHLX), one of the most diverse financial exchanges in the world, has deployed Serena® TeamTrack® to automate and streamline its software development processes. With Serena's solution for centralized IT process management, PHLX has eliminated paper-based processes, improved application quality, and significantly reduced the time required to administer audits.
"We now have clear audit trails from the initial change request all the way into production," said Bernie Donnelly, vice president of quality assurance, PHLX. In fact, the company used Serena TeamTrack for a recent Commodity Futures Trading Commission audit to deliver 60,000 electronic pages to auditors within 10 days of the request. "The auditors were very impressed with our ability to quickly access data and information. We've set a new standard for the futures industry," said Donnelly. Before deploying TeamTrack, it took "a small army" of team members one full month to collect boxes full of change control documents, review and index papers, and make photocopies for auditors. With electronic files captured and stored in TeamTrack, PHLX has eliminated paper and storage fees resulting in significant cost savings.
One of the biggest challenges PHLX faces is managing enormous volumes of application changes to support the company's complex, customer-facing financial applications. Serena TeamTrack has given PHLX a framework for enforcing change control processes, with necessary checks and balances for developers to ensure high levels of quality. With automated approval authorizations, workflow routing, and full traceability for audits, PHLX is much more productive as an IT department, handling more change requests without hiring additional staff.
A long-time Serena® ChangeMan® ZMF and Serena® PVCS® Version ManagerT customer, PHLX saw an opportunity to replace its manual change control processes with an automated workflow-based solution. The company reviewed several vendors but found Serena TeamTrack to be the most robust, flexible solution on the market.
With TeamTrack, PHLX has automated and simplified its signature approval process. The new electronic signature process has reduced change request approval cycles by several days, saving 2,500 hours in administration. Previously, approvals requiring seven paper-based signatures were manually routed through the office, taking several days to get approved.
"Leading financial institutions like PHLX understand that IT must deliver high-quality applications in a timely, efficient manner to maintain a competitive advantage in the industry," said René Bonvanie, senior vice president of worldwide marketing, partner programs, and online services at Serena Software. "Serena will soon deliver a revolutionary new version of TeamTrack that will take companies like PHLX to a whole new level of fast application development and deployment. Together, we will empower a new class of business developers to deliver even greater value to the business."
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