Netstock Solves Project Visibility and Program Governance Challenges with 8Manage PM
Netstock, a Taiwan-based financial software company, experienced significant growth that led to critical issues in meeting project schedule, cost, and quality objectives. The company, which is heavily project-driven and manages a complex portfolio of development and maintenance initiatives, struggled due to resource scarcity, ineffective program monitoring, and communication breakdowns. Facing the risk of losing business from unfulfilled client promises, the CEO sought a solution to improve project visibility and enforce policies.
The desired solution was a web-based, centralized application to capture and maintain all project information. Key requirements included automatic detection of performance issues (like cost overruns or schedule delays) with real-time alerts, and a system to manage resource allocation workflow. Netstock implemented the 8Manage PM software and consulting services from Uptrend Project Learning & Management Inc. This resulted in:
The elimination of paper-based processes and migration to a single, web-based platform.
Improved program quality and governance through automated review and approval processes.
Increased resource utilization and elimination of understaffed projects, boosting portfolio ROI.
A 20% reduction in project administration and management overhead by leveraging standardized tools.
The desired solution was a web-based, centralized application to capture and maintain all project information. Key requirements included automatic detection of performance issues (like cost overruns or schedule delays) with real-time alerts, and a system to manage resource allocation workflow. Netstock implemented the 8Manage PM software and consulting services from Uptrend Project Learning & Management Inc. This resulted in:
Background
Netstock provides financial software products and services to major banking and financial services organizations. The company is based in Taiwan and is heavily project-driven, allocating resources across a complex portfolio of new product development and software maintenance initiatives. With explosive business growth, the leadership team had to quickly improve internal processes and program governance to deliver on customer commitments.
Critical Issue
While growing significantly in projects and headcount, Netstock’s CEO found it was increasingly difficult to meet program schedule, cost and quality objectives. After a few unfulfilled promises to clients, he knew they had to immediately improve their process or risk losing business. They determined that programs were struggling due to a lack of resources, ineffective program monitoring and control, and team communication breakdowns.
Solution Needed
The CEO wanted a way to improve project visibility and enforce policies and procedures across all program process areas. He believed that if all project information was captured, stored and maintained in a web-based, centralized application they could solve the communication and program tracking challenges. An ideal system would automatically detect performance issues such as project cost overruns or schedule delays and provide real-time alerts to responsible individuals. Immediate alert and responses tactics would help managers deal with issues before they caused significant damage. Finally, he wanted a system that could handle resource allocation work flow to ensure projects were adequately staffed.
We Provided
Uptrend Project Learning & Management Inc consulting services and 8Manage PM software provided Netstock with these capabilities.
Result
• Eliminated all paper-based processes and migrated all internal and client-related program management processes and data onto a single, web-based project execution platform
• Improved program quality and governance by automating all internal review, approval and client acceptance processes
• Increased resource utilization and eliminated understaffed projects to improve portfolio ROI
• Leverage standardized project plans, schedule templates, and reports to reduce project administration and management overhead by 20%
