TOTVS is a Brazilian software, service, platform, and consultancy company. They are the market leader in Brazil and Latin America and one of the largest integrated management system (ERP) developers in the world.
TOTVS provide solutions to many industry sectors including financial services. Custody and Controllership of Investment Funds (CCIF) is one of many COTS (commercial-off-the-shelf) software products offered to the market.
Originally architected as a client-server Powerbuilder application built on hundreds of data windows, TOTVS wanted to modernize the product to leverage Java “the most widely used language in the financial services market today” and web-enable it to provide an enhanced end-user experience while at the same time reducing maintenance costs and enabling a more rapid development environment.
TOTVS selected Morphis to deliver this modernization project using its world class legacy-to-cloud technology platform.
“We hired Morphis in 2013 to deliver the modernization of our investment fund liability system to the modern universal language of the financial world, Java. The initial deliverable by Morphis was a proof-of-concept (POC) where they took a part of the application and modernized it to the architecture we wanted based on a Java environment. The POC demonstrated that the process could deliver clean code that was easy to maintain and that kept all of the code patterns previously defined. We could clearly see that, despite the complexity of the original system, we were moving to an architecture that was going to be much simpler to maintain.
“Internally, we had set a deadline of between 30 and 36 months to complete the modernization of the CCIF product but, with Morphis, we managed to reduce this time by at least a year with a cost only half of what we originally anticipated.
“A good example of the value that Morphis brings to a modernization project was that during the project itself, a large client of ours committed to use the product but only if we could provide additional functionality. With Morphis’ services we were able to deliver the complete package with the new features requested, all within the same deadline.
“Surely, we would work with Morphis again and we recommend them to those looking for the same type of software modernization.”
…David Terra, Director of Financial Vertical Solutions, TOTVS