Product Type: Market Research Report
Published by: TowerGroup
Published: October 2006
Product Code: R301-1191Description Discussion of service-oriented architecture (SOA) has consumed gallons of ink and terabytes of memory. Skeptics would say that SOA is a marketing term for repackaging business process reengineering, object-oriented programming, and Web services to encourage firms to spend money on more technology. Proponents would rebut that SOA enables companies to realize the vision of integrating enterprise-wide business processes through robust technology. This Research Note discusses SOA in the context of asset management institutions, with examples of SOA projects, an overview of the diverse vendor landscape, considerations for initiating SOA, and leading institutions' best practices.
Table of Contents
- TowerGroup Take-Aways
- Report Coverage
- Vision
- What Is SOA?
- Starting with Service
- Exhibit 1 Hypothetical Example of Deconstructing a Portfolio Accounting System into Components (2006)
- Adding the Script
- Completing Production
- Exhibit 2 Technology Standards Supporting Service-Oriented Architecture (2006)
- Balancing SOA Trade-offs
- Exhibit 3 Trade-offs in Pursuing Service-Oriented Architecture: Advantages vs. Difficulties (2006)
- What SOA Is Not
- Not Web services
- Not a turnkey system
- Not the responsibility of IT
- Not the be-all and end-all
- What Problem Does SOA Solve for Asset Managers?
- Exhibit 4 Evolution of Asset Managers' Computer Hardware, Software, and IT Architectures (1970s-2000s)
- How to Apply SOA to Meet Buy-Side Business Needs
- Manage Data More Effectively
- Drawbacks of Data Warehouses
- Virtual Data Warehouse
- Increase Revenues
- Corporate Integration
- Cross-Selling Investment Products
- Improve the Level of Automation
- Internal STP
- External STP
- Address Growing IT Costs
- Standardization of Internal Development
- Outsourced Development
- Mainframe Extension
- Enhance Client Service
- Service Portal
- Expand Risk Management
- Business Process Oversight
- How SOA Projects Differ from Web Services
- The SOA Vendor Landscape
- Exhibit 5 Service-Oriented Architecture Vendors by Type of Product (2006)
- Considerations for Implementing SOA
- Degree of Complexity
- Price
- Vendor Viability and Strategy
- Ease of Use of Development Tools
- Maximizing SOA Success
- Assign a Chief Architect
- Start Small, Think Big
- Foster Collaboration
- Remember Governance
- Summary
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