Beacon works closely with software providers and their clients to maximize the benefits of implementing new technology solutions. Areas of expertise include product development and system implementation activities.

Vendor Product Development
Beacon has working relationships with a number of software firms who provide technology solutions to the investment management industry. In addition to our core integration services, we also work closely with these vendors to assist them with enhancing their products to meet the evolving needs of the industry. For example, Beacon will work with these vendors to assess and prioritize development initiatives to ensure that products not only support existing client needs but also are well positioned to meet those of targeted clients. Beacon will assist with the development of business and functional requirements and will continue to work with technology resources throughout the development process to support all testing and implementation needs.

System Implementation
Our clients frequently achieve significant operational improvement by leveraging technology solutions that help increase automation, streamline processing and/or enhance the quality of controls. In addition, our clients often gain significant leverage from integrating multiple applications that represent a best of breed solution. However, successfully enhancing a firm's systems environment may require taking on several challenging and often complex initiatives. Beacon utilizes proven methodologies that can be tailored to the specific needs of each client to help guide them through this process. The following graphic represents critical phases of the implementation lifecycle:



1. Systems Strategy / Needs Assessment
This phase focuses on completing a thorough assessment of a firm's current technical and operational environment. A detailed review of existing applications, business processes, and development methodologies will be performed and findings will be reconciled to industry best practices. Business objectives and future state requirements will be documented and prioritized based upon the strategic goals of the organization. Integrated application, data, business process, and technology architecture models will then be developed to support the firm's strategic vision. A gap analysis will then be done to identify significant gaps with the current environment. An overall implementation strategy will be developed to support each phase of development.

2. Software Selection
This phase focuses on matching the business objectives and operational requirements of the business with the most effective software solution(s). A comprehensive review of service bureau, packaged system solutions and internal development options will be performed. Potential vendors will be interviewed and products will be scored against functional requirements. During the request for proposal (RFP) stage, selected vendors will be asked to respond to specific business, technology and infrastructure requirements as defined during the System Strategy phase. Detailed responses from the vendors will be scored accordingly and final recommendations will be formulated based on vendor capabilities, proposed cost structures and industry best practices.

3. Proof of Concept
This phase consists of a detailed evaluation of software solutions identified as finalists during the software selection process. A detailed gap analysis will be completed to identify development requirements prior to implementation. Testing will be conducted and will be focused in three complimentary areas: 1.) targeted functional testing representing core processing capabilities, 2.) business scenario testing based on expected operational workflows, and 3.) parallel testing to ensure the applications ability to support key legacy data. Business requirements will be documented for all gaps identified. Requirements will be prioritized and reconciled against the vendor's proposed plan for functional design. A well executed proof of concept test will reduce the risks inherent with the acquisition of a new application as well as provide a foundation for the planning and execution of a successful implementation.

4. Implementation Planning / Product Configuration
This phase outlines the specific actions required to implement a product or suite of products. In order to realize the vision that was modeled in the strategy phase, projects will be staged to provide short-term and long-term benefits. A comprehensive project plan will be developed that will incorporate each aspect of the implementation initiative and will highlight critical dependencies. A migration approach will also be defined to effectively convert data from the legacy application and will take into account business drivers such as risk, complexity of processing and customer customization. The product will be configured to meet new business workflows and best practices defined to achieve the future operating model requirements.

5. Model Office
This phase represents the final, fully integrated, test of products to be implemented. Model office will analyze new applications fully in the manner they intend to be used in production. The test will validate all final software enhancements, connections to all upstream and downstream applications and interfaces with external parties. Testing will be conducted by the new business users of the application following procedures and best practices developed in earlier phases of the implementation project. Results of model office testing will be utilized to make the final decision to initiate data conversions from all legacy applications.

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