PSI Data Systems, the IT solutions provider, has announced a partnership with Bolero, the financial supply chain management application software provider, to set up an offshore development centre in India. As a part of the agreement, PSI will extend application development, maintenance and field support services to Bolero.
The centre will support a powerful electronic compliance and matching solution from Bolero that delivers online reconciliation of trade data. This solution incorporates aspects of existing paper-based settlement methods but, through automation, eliminates expensive and time-consuming manual activities that characterise current settlement services.
Bolero is an open platform designed to enable paperless trading between buyers, sellers, logistics, banks, agencies and regulatory authorities anywhere in the world, delivering transaction visibility, predictability, speed, accuracy and security.
Using the offshore development model will enable Bolero to provide a flexible resource allocation with access to a large pool of resources, flexible pricing structure, shared risks, faster time to market, predictable quality, and at an overall reduced cost. The centre will also help Bolero maintain its financial supply chain suite of products and carry out enhancements on an ongoing basis and when required take up customer specific implementation consultancy activities.