Patni Computer Systems Limited (NYSE:PTI) has launched LegacyX(TM), a new solution framework aimed at helping insurers develop and implement their legacy renewal strategy. The LegacyX(TM) framework is available now to companies in all insurance sectors.
The LegacyX(TM) solution framework is a comprehensive suite of time-tested methodologies, tools, templates and best practices that provide insurers a low-risk and proven approach to modernizing their legacy environments. While technical architecture, functionality, and scalability requirements vary by company, it is alignment with the overall business strategy that makes the LegacyX(TM) framework unique and valuable to Patni clients.
The three main components of the LegacyX(TM) framework are as follows:
* Guidelines and Methodology -- Outline a "right path" towards assessing a client's current state and defining the ideal future state for their IT environment based on business goals.
* Tools and Templates -- Provide the means for adhering to the project guidelines and methodology.
* Reference Architecture -- A model to achieve the ideal future state with components such as automation, workflow, integration, ACORD-compliant data exchange and storage.
The insurance industry relies on mainframe-based data and systems more acutely than other industries, making this the ideal time for the introduction of Patni's LegacyX. In fact, according to a recent report from Forrester Research, out of 150 North American and European insurers surveyed, 50% are going to embark on major legacy renewal initiative in 2006-2007.
"A common theme in our discussion with insurance CIOs is their increased interest in a legacy modernization strategy," said Bill Budde, senior vice president and head of the Insurance business unit at Patni. "LegacyX (TM) provides insurance carriers with a pragmatic path towards renewal of their legacy environment, to keep in step with the realities of the modern insurance business."
The LegacyX (TM) framework aims to enable insurers to achieve key business objectives such as follows:
* Reduce IT portfolio total cost of ownership
* Streamline time and cost of legacy business processes
* Shorten lead time to respond to market challenges
* Enable faster new product introduction
* Increase competitiveness and ability to react to market changes
* Improve customer service and enable self-service
* Improve scalability
* Enhance channel business integration
* Instill IT and process discipline
* Enable location independence
* Improve data quality and business intelligence.
About Patni
Patni Computer Systems Limited (NYSE:PTI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology-focused practices.
With an employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 450 million for the year 2005.
Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.
For more information, visit http://www.patni.com or call 617/914-8337.