Migration as a Service
The company had 8 different installations and 32 different profit centers, which were mapped in one of these installations. They used a traditional monolith application that operated as a stand-alone system in each of their branches and was not integrated. This type of siloed branch-based application severely affected the audit performance of the company.
One of their primary challenges was to control delinquency. The organization was doing performance analysis daily, investing a lot of time in getting data from all its branches and running the report. They were unable to identify real-time financial performance, which included total money on-lend, outstanding and monthly collectibles. The company relied on the daily reports, which were getting cumbersome to compile. If they don’t manage these crucial elements tightly, the delinquencies can grow quickly, and this can prove to be a great performance loss. So, the company wanted to transform its application management system to cloud-native applications.
After a thorough analysis of the client’s existing application system, Nexio recognized the pain points and identified the need for modernization of the legacy application. Nexio provided a single unified enterprise application by ripping the existing application and rewriting the same for cloud-native. The new application was hosted on NExio managed cloud platform.Through Nexio solution, the company’s applications continued to meet modern user expectations as they kept evolving. The solution also included adequate checks and balances to prevent anomalies in lending and collectibles.
Leveraging Nx Runtimes, the solution enabled real-time data collection and reporting, thereby empowering the company with insightful data on the various KPIs. This solution provided the ability to get a more accurate picture of their financial performance and significantly enhanced their decision-making process. The company was able to be more productive in the process of performance analysis, and was able to identify and eliminate delinquencies at a faster rate.
Nexio allowed greater workload mobility to the cloud and improved the client’s operational efficiencies, and reduced costs. We were able to achieve the client’s expectations by providing real-time tracking of financial performance faster and better. Delinquencies were controlled and the lending company was able to get more visibility on the business processes. Nexio’s Nx Runtime solution delivered faster, cheaper, and better results with their application modernization.