Wednesday, April 11, 2007
Paymaster Saves 300,000 GBP Per Year by Modernizing Core Banking Systems
Paymaster Saves 300,000 GBP Per Year by Modernizing Core Banking Systems
10/04/2007
Press release Via: Business Wire
Micro Focus(R) (LSE.MCRO.L), a leading provider of enterprise application management and modernization solutions, today announces that Paymaster, one of the largest providers of outsourced financial services in the United Kingdom, has successfully used Micro Focus application modernization technology to move its core legacy applications from a VME mainframe to a new Windows server.
Paymaster's operating costs have been reduced by 300,000 GBP per annum and banking processes are now running ten to 30 times faster.
The migration was conducted by migration partner Transoft (a Micro Focus Migration and Transformation Consortium (MTC) member) and completed within budget in just ten months.
Paymaster now anticipates an even better return on investment (ROI) than the 11 month ROI originally projected.
Additionally, Paymaster has been able to improve levels of system availability and security, while reusing its core application code and data to minimize risk and expense.
The application modernization initiative was prompted in June 2005, when Fujitsu announced its plans to withdraw support for its Trimetra mainframe line by the end of April 2006.
Paymaster's mission-critical banking suite was the last remaining application on its Trimetra mainframe and running such an important system on an unsupported platform was not an option for Paymaster.
By moving to a Windows server, the company has not just eliminated this problem, it has also dramatically improved batch performance and job automation, enabling its evening batch to complete three hours earlier.
"The savings we have been able to make of around 300,000 pounds per annum gave us our expected return on investment in just ten months.
However, the performance improvements took us by surprise, with our batch processes completing 10 to 30 times faster running under Micro Focus COBOL on a small two CPU server.
The project has been a total success for us and has given us the confidence to really drive ahead with further developments," said Ralph Tigwell, chief technology officer, Paymaster.
"We are pleased to assist Paymaster in its application modernization strategy," said Stuart McGill, chief technology officer at Micro Focus.
"Too many companies, unlike Paymaster, underestimate the value of their core systems when looking at ways to improve operational efficiency and business agility." About Paymaster Paymaster (1836) Ltd (previously the Office of the Paymaster General) is one of the largest providers of outsourced financial services in the UK.
Established in 1836 to co-ordinate the payment functions for public sector organisations, in particular pensions and payroll administration, Paymaster became part of Hogg Robinson plc in 1997 and subsequently Xafinity Ltd in July 2005.
Since 1997 it has provided services for both public and private sector companies.
Paymaster provides pensions administration and payroll services for some of the largest schemes in the UK.
It covers all aspects of DB and DC pension scheme and annuity administration.
Its pension payroll services make payments totalling more than GBP 7 billion to over 1.5 million pensioners and their dependants, in 189 countries throughout the world.
About Micro Focus Micro Focus provides innovative software that allows companies to dramatically improve the business value of their enterprise applications.
Micro Focus Enterprise Application Modernization and Management software enables customers business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk.
For additional information please visit www.microfocus.com.
The very latest perspectives, expertise and developments from Customers, Partners and Micro Focus are under one roof at Micro Focus World 2007.
For more information visit: www.microfocusworld.com.
10/04/2007
Press release Via: Business Wire
Micro Focus(R) (LSE.MCRO.L), a leading provider of enterprise application management and modernization solutions, today announces that Paymaster, one of the largest providers of outsourced financial services in the United Kingdom, has successfully used Micro Focus application modernization technology to move its core legacy applications from a VME mainframe to a new Windows server.
Paymaster's operating costs have been reduced by 300,000 GBP per annum and banking processes are now running ten to 30 times faster.
The migration was conducted by migration partner Transoft (a Micro Focus Migration and Transformation Consortium (MTC) member) and completed within budget in just ten months.
Paymaster now anticipates an even better return on investment (ROI) than the 11 month ROI originally projected.
Additionally, Paymaster has been able to improve levels of system availability and security, while reusing its core application code and data to minimize risk and expense.
The application modernization initiative was prompted in June 2005, when Fujitsu announced its plans to withdraw support for its Trimetra mainframe line by the end of April 2006.
Paymaster's mission-critical banking suite was the last remaining application on its Trimetra mainframe and running such an important system on an unsupported platform was not an option for Paymaster.
By moving to a Windows server, the company has not just eliminated this problem, it has also dramatically improved batch performance and job automation, enabling its evening batch to complete three hours earlier.
"The savings we have been able to make of around 300,000 pounds per annum gave us our expected return on investment in just ten months.
However, the performance improvements took us by surprise, with our batch processes completing 10 to 30 times faster running under Micro Focus COBOL on a small two CPU server.
The project has been a total success for us and has given us the confidence to really drive ahead with further developments," said Ralph Tigwell, chief technology officer, Paymaster.
"We are pleased to assist Paymaster in its application modernization strategy," said Stuart McGill, chief technology officer at Micro Focus.
"Too many companies, unlike Paymaster, underestimate the value of their core systems when looking at ways to improve operational efficiency and business agility." About Paymaster Paymaster (1836) Ltd (previously the Office of the Paymaster General) is one of the largest providers of outsourced financial services in the UK.
Established in 1836 to co-ordinate the payment functions for public sector organisations, in particular pensions and payroll administration, Paymaster became part of Hogg Robinson plc in 1997 and subsequently Xafinity Ltd in July 2005.
Since 1997 it has provided services for both public and private sector companies.
Paymaster provides pensions administration and payroll services for some of the largest schemes in the UK.
It covers all aspects of DB and DC pension scheme and annuity administration.
Its pension payroll services make payments totalling more than GBP 7 billion to over 1.5 million pensioners and their dependants, in 189 countries throughout the world.
About Micro Focus Micro Focus provides innovative software that allows companies to dramatically improve the business value of their enterprise applications.
Micro Focus Enterprise Application Modernization and Management software enables customers business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk.
For additional information please visit www.microfocus.com.
The very latest perspectives, expertise and developments from Customers, Partners and Micro Focus are under one roof at Micro Focus World 2007.
For more information visit: www.microfocusworld.com.
Labels: banks, costs, europe, finance, microsoft, migration, uk, vme
Subscribe to Posts [Atom]