Most Software Implementations Fail. You Need the Right Partner.

Software implementation is no small task, and investment firms cannot afford to get it wrong the first time. Choosing the right implementation partner makes a world of difference.

Purchasing new software is easy, and so is thinking about the benefits you want from it.

When done properly, successful software implementation sets the tone for your organization, ensuring overall process efficiency as well as the ease of accessing and managing quality data and reports.

But setting everything up and actually making it work is a lot hard harder.

Implementation failures are extremely painful, wasting significant amounts of time and money you’ll never get back.

Software Project Failures: A Major Issue

According to ZipDo:

  • 31% of software projects will be canceled before they are completed.
  • 53% of software projects will cost nearly twice their original estimates.
  • 75% of business and IT executives anticipate their software projects will fail.

There are many reasons why software implementations fail:

  • poor leadership and team management
  • limited resources (not enough time, insufficient skill sets, and implementation tools)
  • lack of familiarity with the platforms being implemented
  • inability to customize the systems

Some tasks are simply too critical you can’t leave it up to your in-house team and hope they pull it off.

For investment firms and financial institutions, their time, money, and data are too valuable. A failed implementation can set you back months, if not years, in progress.

Additionally, software companies themselves want their customers to use their platforms successfully, and if the customers can’t even use their product, then the software provider loses money.

If you failed with implementation before, don’t make the same mistake again. If it’s your first time, avoid the fate of others who painfully learned the hard way.

Success starts with choosing the right partner.

At Empaxis, our software implementation specialists are uniquely unrivaled in years of experience, breadth of capabilities, and the knowledge and insights they pass on to the client.

Why Empaxis

1. We Truly Understand the Needs of Businesses

Empaxis has nearly two decades of experience delivering operational excellence through digital transformation and systems integration expertise.

In that time, we’ve helped countless firms and have seen just about every scenario there is when it comes to software implementation.  

We know what the clients’ definition of success looks like, and we know potential pitfalls in projects and how to overcome them.

Very few - if any - providers can match the deep understanding of businesses' needs like Empaxis.

2. We Take Initiative; You Don’t Have to Spoon-Feed Instructions to Us

One of the benefits of partnering with Empaxis is that because we have so much experience, we’ll evaluate your setup and identify opportunities that will improve your processes.

Additionally, when issues arise, we’ll make the necessary decisions to advance the project without having to ask you for help every time.

Too often, other service providers (or even your own employees) will follow a set of instructions, but the moment there’s a challenge or unexpected situation, they have no idea what to do.

At Empaxis, we know you hate those moments. You don’t like spelling out instructions all the time; you want a partner that can think critically, and act rationally and decisively.

3. Flexibility; You Can Change the Scope

Rarely, if ever, does a software implementation journey run as initially planned.

There are always unknowns that force a project to pivot, and the scope of the project has to change.

Empaxis gets it. We can work with scope changes and work with you on a revised roadmap to implementation.  

4. We Have the Tools for Successful Implementation  

Implementing software is never a clear, straight path.  

Problem-solving requires a degree of resourcefulness, and that includes the use of digital and automation tools.

On the path to implementation, some processes are manual, complex, and highly time-consuming to fix. We’ve encountered these situations before, and as one example we’ve deployed RPA (Robotic Process Automation) bots to effectively complete the work.

Empaxis will always find ways to leverage technology for implementing systems.

5. We Help Make the Software Better

Empaxis has partnerships and strong relationships with many of the software companies that investment firms rely on for services.

Our unique position allows us to give direct feedback to the software providers, thus improving their offerings to you.

Empaxis has an interest in making the solutions work, and so do the software providers. When a trusted partner like Empaxis has something to say, they will listen.

6. Our Team Receives Comprehensive Industry Training, Beyond the Software

It’s not enough to be trained on the software itself. Nobody operates in a silo, and we consider it essential for our staff to see how all the dots connect in the work they do.  

Our team is trained on capital markets and the transactions involved, and they’re also trained in the investment management industry itself. From the business models to investment firm clientele, our employees have an intimate understanding of Empaxis clients, the work our clients do, the software used, and the investment portfolio data and transactions handled.

With this well-rounded training, Emplaxis employees have greater appreciation for the role they play and how our clients benefit from the work our team does.

The Right Implementation Partner Makes the Difference

Software implementation is a complex process. Do it wrong, and investment firms will have wasted their time, money, and efforts, and they will feel the pain long after.

There is no upside attempting such a project yourself, especially with zero guarantee of success.

That's why it's better to hire experts like Empaxis. We have a proven record of delivery, having performed dozens of successful implementations.

Empaxis deeply understands the clients and the investment management industry. Additionally, we have the resources to carry out the implementations more effectively, and we take initiative and demonstrate flexibility in working together. Finally, we leverage our relationships with software companies so that they can improve their product, ultimately benefitting you.

Don't go it alone. Schedule a consultation with Empaxis to learn more about easier, smoother, and more hassle-free software implementation.

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