NASDAQ BWISECONTINUES LONG–STANDING PARTNERSHIP WITH XCHANGING

CASE STUDY

BWise

2 | NASDAQ BWISE CONTINUES LONG-STANDING PARTNERSHIP WITH XCHANGING

NASDAQ BWISE AND XCHANGING EXPAND THEIR PARTNERSHIP IN APPLICATION SERVICE DELIVERYNasdaq BWise delivers a best-in-class Governance, Risk and Compliance (GRC) software platform, delivery services for implementation, managed hosting/application management and 24/7 global customer support. These services are supported by a collaborative global partnership with Xchanging.

Xchanging has a team of specialists dedicated to the BWise teams to provide remote support to customers. In addition, Xchanging provides experienced BWise application and reporting specialists that are part of the Nasdaq BWise blended implementation teams for customers in Asia.

THE PROJECT

A huge challenge businesses face today is addressing the GRC (Government, Risk and Compliance) needs of the top 5,000 companies spread across the globe. BWise is quickly expanding its global reach and presence in emerging markets while monitoring the cost-efficiency of its operations, ensuring seamless provision of services to customers with varying regulatory requirements. BWise and Xchanging together offer the most efficient services for a broad range of customers in the emerging markets.

THE BACKGROUND

BWise is the cornerstone of Nasdaq’s GRC offering. BWise offers multiple role-based software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management. Each solution derived from the BWise integrated Governance, Risk Management and Compliance Platform supports the end-to-end process of a given role. With a global presence that spans over 80 countries, and customers from many large fortune 500 companies, BWise is consistently positioned by independent analysts such as Forrester and Gartner as a leader in enterprise GRC platforms.

BWise’s end-to-end software solutions support an organisation’s ability to understand, track, measure, and manage key organisational risks. BWise services help companies remain in control by balancing performance with financial and reputational risks, improving corporate accountability, and increasing financial, strategic and operating efficiencies. Using BWise, companies are able to efficiently comply with regulations like FCPA and the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II and III, Dodd-Frank and ISO-standards.

THE CHALLENGE

Organisations are continuously under pressure to remain compliant and effectively manage their GRC programmes. This challenge is even more acute as the GRC landscape is constantly shifting in response to increased regulatory measures, economic pressures, technological advancements and an upsurge in information security issues.

BWise’s challenges were two-fold, to deliver innovative and sustainable solutions within the complex GRC environment, coupled with the objective to strengthen its company footprint in the APAC and MEA regions and beyond, as part of its ambitious expansion plans.

BWise offers cost-efficient professional implementation models, round-the-clock product support and application services regardless of time zone, while generating greater cost-efficiency for both itself and its client base.

Outsourcing a portion of BWise’s product support was crucial to meet those business objectives. With partner personnel based in various time zones through Xchanging, BWise is now able to provide a more robust layer of application support to its customers.

THE PARTNERSHIP: BWISE AND XCHANGING

BWise has had a long-standing and successful relationship with Xchanging since 2003, harnessing deep routed engagement with all levels of Xchanging management since inception. Xchanging was appealing to BWise as a partner because of its entrepreneurial attitude, and its creative and flexible delivery and commercial models. Xchanging’s established presence and experience in emerging markets complemented BWise’s own business goals.

BWise and Xchanging have consistently worked in partnership with one another rather than adopt a traditional customer-supplier relationship. BWise found in Xchanging an organisation that shared its business values. “The key to any successful partnership is ensuring a good cultural fit between organisations,” says Rob van Straten, Global Head of Sales and Delivery at BWise.

He explains, “It’s important to have a trustworthy, long-term relationship because in the beginning investment is needed on both sides so it’s not just about finding the cheapest supplier.”

BWise deliberately chose to work with limited, selected partners, with Xchanging being one of their strategic and tactical partners for the emerging markets. BWise chose to invest exclusively in Xchanging’s knowledge levels, rather than form numerous new partnerships in multiple areas throughout the world.

“The key to any successful partnership is ensuring a good cultural fit between organisations.”Rob van Straten, Global Head of

Sales and Delivery at BWise.

NASDAQ BWISE CONTINUES LONG-STANDING PARTNERSHIP WITH XCHANGING | 3xchanging.com

THE SOLUTION

Xchanging is contributing to the BWise business by supplying a multitude of services as listed below.

Implementation ServicesXchanging delivers full time BWise Certified Implementation Consultants (BCIC) that engage with BWise to form a collaborative working relationship. Together they help BWise teams to deliver the implementation projects for its customers.

Support ServicesThe Xchanging BWise support group is responsible for providing first level problem determination and application support to BWise customers. This includes supporting the functionality and operational efficiency of the BWise application. Support consultants are also responsible for the solution of incidents by answering questions, interpreting operating instructions and providing references in the operation and administration of their systems.

Application Management ServicesXchanging kick started the Application Management support service for one of BWise’s customers based out of Asia

and Australia. These will include Incident Management, User Support, Service Level Management, Configuration Management, Application and Database Management and System Management.

THE BENEFITS

Driving EfficiencyOutsourcing a number of its support and services to Xchanging enabled BWise to better focus on its core business competencies, increase its operational efficiency and provide regional services and support to its customers.

Better Cost SavingsBWise achieved substantial cost savings by partnering with Xchanging in delivering implementation, support and application services to its customers. BWise passes the reduced cost as a benefit to its customers in the form of competitive pricing. This has enabled the organisation to win key contracts.

Agile Delivery ModelXchanging’s entrepreneurial spirit is one of the most important benefits of the partnership. Xchanging consistently demonstrated a flexible approach both at the incident or managerial level, and this was accompanied by unyielding levels of

drive and determination to support BWise in achieving its business goals. Commenting about this entrepreneurial spirit, Rob Van Straten said, “Xchanging demonstrated excellent knowledge, motivation and determination.”

Deep Customer RelationshipBy speaking the same language, sharing the same business values and understanding the ‘give and take’ ethos of a meaningful relationship, BWise and Xchanging were able to leverage the benefits of a deep business partnership, rather than a typical customer-supplier affiliation.

Shared Delivery ModelXchanging has extended the current BWise support team in India and successfully shared the workload of both Customer Support and Application Management Services. Xchanging also delivers a faster turnaround time on Hosted Environments. In addition, because Xchanging’s team offers support 24/7, upgrades can be implemented during BWise’s customers’ off-peak hours, resulting in zero downtime.

Outsourcing a number of its support and services to Xchanging enabled BWise to better focus on its core business competencies, increase its operational efficiency and provide regional services and support to its customers.

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