Brady plc, the leading provider of risk management solutions to the global commodities and energy space, announced the release of a new cloud-deployed version of their physical trading and risk management solution for metals that radically reduces the time, upheaval and effort associated with system’s implementation. Brady reports that its new FAST START program includes out of the box pre-configured settings for Metals Trading that make it usable from day one. Brady’s Chief Product Officer, Libby Koehn, stated this new offering was specifically designed for companies who are looking for a full-scale Metals Trading and Risk Management solution without incurring the time, business upheaval or costs of a fully customisable solution.
- Templated version of the full Fintrade Trading and Risk Management Solution
- Delivered with pre-configured base metals trading business processes including pricing terms and hedging instruments for LME, COMEX, or CHFE, common currencies, premiums, countries, incoterms, payment terms, default price uploads for EOD prices, standard accruals and accounting rules and standard templates for contracts and invoices.
- Standard pre-defined data, take-on, implementation and training plan to accelerate Time to Live
- Available on the cloud but can also be deployed on-premise.
Successful delivery of Brady FAST START relies on an implementation process specifically tailored to meet the needs of most metals trading customers. That means that Brady must be able to deploy Fintrade rapidly, keeping costs and efforts to a minimum. In order to achieve this approach Brady has defined a standard 50-day implementation and training framework using a standard training model rather than the traditional bespoke design and build approaches used on larger projects. This allows customers to radically reduce the amount of time required before they are live in production.
Time to Live can be further reduced to 30 days for customers who are open to launching with a more minimal solution set. And since FAST START includes delivery of a fully functional version of Fintrade, this solution still offers customers full flexibility to configure and extend their system as their business needs evolve. This allows clients to minimise implementation resource requirements, gain a quick ROI, significantly reduce the cost of ownership, and provide early business value before moving on to add nice-to-have features.
Traditionally complex end-to-end lifecycle management solutions take a significant amount of time to implement. Brady has broken that mould by creating a state of the art solution that’s based on their experience with dozens of clients, and which gives an out-of-the-box configuration that is ready to use.
Pascal Finarelli, product marketing manager at Brady says: “FAST START’s standard configuration and data package reflects both best practices as well as the typical installation base line data settings, configurations and reports we commonly see with our metals customers. Pre-configuring all of this has allowed us to minimise our implementation time, so our implementation consultants can focus on much higher-value services to help clients, rather than reinventing the wheel.”
Even though it’s pre-configured, Brady does not see their FAST START offering as something they just hand over to the client and walk away from – Brady’s implementation consultants remain very involved with the client all the way through to go-live. The main difference is the implementer’s time is spent on activities such as assisting the client get used to their new solution, hands-on system training, supervision of UAT activities, and using standard tools for loading data rather than starting each new project with a blank piece of paper.
By designing a pre-configured cloud-based solution for the metals industry, Brady is now able to offer clients a complete implementation in under 50 days and Brady will be rolling out further quick start solutions for other commodities over the course of 2018.