by: Sarah Joson
Friday, March 30, 2012 | Outsourcing News |
A recent article posted at BizTech2.in.com discourses the Financial Services World Quality Report done by Capgemini and Sogeti. The report indicated that amid the cloud-related risks that Financial Services (FS) organizations are facing, they continue the adaptation of the technology in hopes of alleviating challenges that would affect the entire operation.
The IT department of each FS firms oversees if the newly acquired cloud service complies with the needs of the organization, helps the business grow and of course, saves the company from additional expenses. On the other hand, the Quality Assurance (QA) organizations are the ones responsible for making sure that the tools and processes used such as the cloud, Software as a Service (SaaS), outsourcing, Testing Centers of Excellence (TCoE), and mobile services readiness are contributing to business growth.
Majority of the surveyed firms indicate funds as a concrete hurdle, as well as the constant changes needed by the applications. With those issues, QA organizations find solutions that help firms maximize operations and circumvent challenges:
The IT infrastructure and services are upgraded by making use of SaaS models and integration of the cloud. With the upgrades, simplification of processes, lesser operating costs, increase reaction time and cater to a wider market are also being worked on by QA organizations. The Testing Practice and Rightshore Leader at Capgemini Global Financial Services, Govindarajan Muthukrishnan said organizations still doubt the security risks of the cloud but see the technology as a cost effective and easier way for testing since it can be accessed anywhere and utilized as a pay-per-use model. In fact, only 15 percent are hesitant to apply upgrades and 73 percent indicated that between 1 percent and 50 percent of their operations will be migrated to the cloud.
Outsource QA to third party service providers. According to Anurag Gupta, Testing Leader for Financial Services at Capgemini India, even if 70 percent of FS organizations outsource testing to third party vendors or employ contractual testers, only six percent outsource large segments of their testing operations (around 76-100 percent). Gupta noted that this is a clear indication that FS organizations can maximize outsourcing benefits for QA operations.
Create a Testing Center of Excellence (TCoE). Time, money, and qualified experts are crucial in operating a TCoE. A lot of FS firms may see this as another obstacle which is probably why only one percent of the group have a fully operational TCoE. Meanwhile, 55 percent are seen planning for a future TCoE or have started putting up the process. Having a TCoE can help businesses and their QA develop a cohesive environment. It can also create a benchmark for companies for their testing operations and of course, reduce costs.
Prepare for mobile application domination. Since more and more users, clients, and investors are using mobile devices, it just follows that the FS industry and its QA teams are preparing for changes that will come in terms of utilization and security. It is considered as the “New Normal” and QAs need to rapidly acquire new sets of skills to keep up with the changes.
More room for growth. Anurag said QA organizations of today are eager to know where they are in the playing field and want to immediately asses which areas they need to improve on. Meanwhile, the FS industry is one step ahead of other segments in terms of test organizations since they deal with sensitive data.
However, to improve testing processes, minimize errors, ensure security, and have better turnaround time for QA processes in the FS industry, proper regulation of tools and processes is crucial.