A Los Angeles-based hedge fund with $20+ billion AUM has investments in a broad range of asset classes. They use a leading third-party Order Management System (OMS) that is customized for their needs and is frequently updated. The hedge fund also uses a third-party accounting system and has developed an in-house application to integrate with the OMS.
Challenges Faced by the Client
The client faced the following challenges in testing the customizations and upgrades for the OMS, and the in-house application.
Inadequate quality – After deploying a testing team for the OMS and the in-house application, the client found they did not meet their targeted quality standards.
Long turnaround time for regression testing – Upon each release of the OMS, the client’s team spent more time for regression testing to ensure that the requirements met through previous releases stayed unaffected.
Due to our 20+ years of serving the asset management industry, the hedge fund selected UBTI to independently test the new releases of the OMS and in-house application.
Quickened requirements gathering process – The UBTI team, knowledgeable about the Order Management Process, received a few training sessions on both the OMS and the in-house application, along with the client’s unique set of requirements. At the end of the training sessions, UBTI prepared and shared a reverse knowledge presentation and confirmed their understanding to the client.
Testing solutions – UBTI performed both manual and automation testing for each release of the OMS and the integration application, and earned the client’s appreciation by achieving the client’s desired quality standards. With automation testing, UBTI has significantly reduced the turnaround time needed for regression testing.
The key project metrics – UBTI, having formulated the test cases for this project, has built a repository of over 3000+ test cases, and has enabled the client to enjoy 20+ successful releases so far. The multifold benefits for the client also include the flexibility to ramp up/down resources on demand, time & cost savings and higher cost efficiency.