FINCAD cashes in on application modernization

Application modernization reduces data center burdens

As a financial services company, FINCAD is subject to stringent compliance regulations and, to be successful, it needs to crunch multiple data streams quickly, securely and accurately. The company valuation system, Insight, was a legacy web application with a traditional database, app server and web server that’s been in use since 2000.

The application lived in a data center where power and cooling were provided, but the management of the system and backups still fell on the FINCAD team. Facing end of life for some of its infrastructure and looking to end its dependence on a physical data center, FINCAD took the opportunity to modernize and move the application to the AWS cloud. This would allow it to run on more performant hardware, modernize the application and integrate automation to streamline management. FINCAD engaged with Rackspace Technology for support and guidance through the migration.

The value of Fanatical Experience

Providing a Fanatical Experience® is more than just technical execution; it’s setting customers up for success. Though FINCAD engaged with us for migration assistance, the Rackspace team dug deeper to help it simplify workflows and apply security, compliance and disaster recovery best practices. Beyond the technical aspects of moving the application to the cloud, Rackspace provided in-depth training to FINCAD, as well.

The project kicked off during the COVID-19 pandemic, making it impossible to do traditional, in-person training. To lay the foundation for success, the Rackspace team developed customized training modules to help ensure that FINCAD could manage and optimize its AWS environment after the project handoff. The in-depth training on GitLab, Terraform, Systems Manager Agent (SSM) and other tools included documentation, live virtual sessions and on-demand videos. “With COVID-19, our team was working from home in different geographical areas, and having these training modules available to get us up and running really eased the transition,” recalled Timothy Lee, Head of Support and Hosted Application Operations at FINCAD.

The Rackspace team not only managed the migration and provided training, but it also helped FINCAD uncover an appropriate incentive program for the project that resulted in further cost savings. “We never realized the amount of support that we could get from AWS,” Lee shared. Rackspace's deep knowledge of AWS from both a technical and business perspective, helped FINCAD reduce the project’s overall complexity and costs.

Modernization yields dramatic improvements

Taking an outcome-based, customer-focused approach, Rackspace delivered FINCAD the technical assistance it needed migrate and modernize its application, along with the tools and training required to manage and grow its environment into the future. “It was equally a technology implementation and a knowledge transfer,” Lee explained.

The new environment, infused with automation and built on a modernized infrastructure, reduces errors, increases productivity and cuts costs for the FINCAD IT team. The move has also provided a measurable improvement for its users. According to Lee, “We measured valuations and they’re running about six times faster now.”