Nimble Agile teams can save you serious money

Agile is one of the most widely practiced software development methodologies, promoting a project-management approach built upon the principle of cycles of continual inspection and adaptation. It allows teams of developers to better deliver high-quality software through a leadership and business philosophy that encourages greater stakeholder engagement, teamwork and accountability.

The ultimate objective is that the software development is aligned with the needs of both you as the client but also the requirements of the end-users within your business, those fund managers that will be using the software day in and day out.

Whilst all projects are impacted upon by the experience and execution of the team managing it, Agile as an iteration rather than process driven methodology is particularly susceptible to human failings which could cost you thousands of pounds in waste. With efficiency and saving you money in mind, here are Synetec’s top 4 tips for getting your people started on the right foot:

Cutting corners doesn’t cut cost

IT budgets are shrinking and time-to-market demands are getting shorter, as such Agile has offered many clients a perceived ‘silver bullet’. The flexibility of an Agile project places more emphasis on the professionalism and skill of your development team- so never substitute a proven track records for cowboys who cut corners to save pennies. Remember that bad software coding creates long-term problems, adds cost and complexity. Rome wasn't built in a day, and neither are most robust software systems. Financial software is inherently complex, often with major penalties if things go wrong so cutting corners on time or testing never pays off.

Big isn’t always better

At the same watch out for big software consulting companies. They may have teams of talented software developers but that doesn't mean you will get them working on your project. With Agile requiring a partnership between developer and client, be sure to select a team of developers that understand and compliment your business.

Flexibility comes with reasonable expectations

The great benefit of Agile is that you – the customer – can influence the deliverables throughout the development process. The software is continually evolving right up until delivery BUT- and it’s a big BUT- change can only come with ‘reasonable’ expectation.  Sweeping  last-minute changes will impact costs and/or timings, regardless of the development methodology.

Agile methodologies use an iterative approach, where small pieces of software are produced at short intervals. Tackle your project in small chunks of features that can easily be developed, changed and tested; and the system as a whole will grow more effectively and result in a more reliable system.

Most successful projects involve ownership not just buy-in

Using Agile, you as the client get to see the system working from an early stage, and play a critical part in its development, it’s evolution and ultimately if the software doesn’t deliver the end-user experience you want, then you are also part of the problem. Agile brings a democracy and accountability to software development where you as the client are a key part of the design process and should soon be encouraged to have a sense of ownership over the project. Agile methodologies rely on regular presentation sessions by the developer to the project stakeholders where these stakeholders can comment on the presented software, request changes to it and decide features that will be subsequently developed. This is where you can really make a difference, and ensure you get the software you need.

End-user experience should be part of the Vision

Know what you need your software system to achieve. The clearer and more specific your requirements, the more likely you will get a system you are happy with. Often the most challenging parts of the software development process are understanding the end-users requirements from your initial client brief. Not only do different client’s requirements come with varying degrees of technical complexity but in most cases the main client contact is not a typical end user of the software. As such translating the requirements can incur multiple cycles as comments from within the team are fed back into the process- an effective and efficient way to combat this is by ensuring one of your fund managers or software users takes part in the initial brief and testing at each stage.

These may all seem like common-sense points but it is remarkable just how many tens of thousands of pounds we see clients wasting each year, simply because of not effectively deploying the correct human resources at the right time.

George Toursoulopoulos is a financial technology specialist and Director at Synetec, one of the UK’s leading providers of bespoke financial services software solutions. George started his career with US-software giant EDS, becoming the youngest manager in the company’s history and has since gone on to lead Synetec where he has continued to deliver world-class solutions for a number of the UK’s most prestigious Hedge Funds and Family Offices. George is a regular conference speaker on the implementation of technology within the financial services industry with a particular focus on delivering ROI and improving key business drivers. George has lectured on Microsoft development and has served as a director on numerous company boards.