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Internet Content Site
Introduction
This scenario demonstrates the level of interactivity and informed decision-making possible when a content site is built using Integer. Integer has capabilities beyond the following scenario, which demonstrates
- Real-time collaboration on a shared spreadsheet among geographically wide-spread users.
- Real-time data feeds; in this case, stock prices.
- Ability to view and edit Excel spreadsheets on the web.
- Fast down-load time.
- Access to a shared spreadsheet through a URL.
- Cross-platform capabilities; all that a user needs is a computer that can access the Internet
The Providence Funds is a mutual fund management company. They provide a series of their own mutual funds and also act as brokers of other mutual funds and securities. Many of Providence's competitors have begun to offer web-based access to their accounts as well as web-based securities trading. Providence has begun to offer the same, as well as the ability for clients to interact in real-time with customer service representatives and each other through the web and to receive real-time updates on their stock portfolios.
The Providence site was built on the following criteria:
- Standards based: Providence's systems were built to work well with all actual and de facto standards in the marketplace.
- Scalability: Providence was unable to predict customer adoption. Thus, they needed scalable systems that could be increased in performance and capacity by adding servers.
- Object Oriented: Providence was aware of the consolidation in the financial services industry, and they needed object oriented (OO) systems that could be integrated with other OO systems.
- Compatibility with legacy systems: Providence knew some of their customers would want to import or export from Excel and Lotus 1-2-3.
- Real-time collaboration: Providence wanted to provide cutting edge customer service. To that end, they built their system to enable clients and customer service reps (CSR's) to view the same information at the same time. Providence viewed the collaborative functionality as giving them a solid edge over their competition.
- Real-time data feeds: Providence wanted to provide their customers with a way to see up-to-the-minute stock values as they view their portfolios or as they collaborate on their portfolios with their brokers in real-time.
CSR: Welcome to Providence Investments. How may I be of assistance?
Joe Bob: Why are you sending me software to install? What's up with this?
CSR: Sir, you can use the Providence web site without the software, but if you want to see real-time updates to your portfolio, installing software with an Integer application is the way to go.
Joe Bob: What do you mean, real-time updates?
CSR: As the prices on the market change, your portfolio value will update, just as if you were on our trading floor. This new system gives you the analytic power that our traders use.
Joe Bob: Hmm? That does sound interesting. Okay, wait a minute while I install this software? I want to check out this site? Okay, done!
CSR: Go to www.providencefunds.com and click on the "Manage Portfolio" link. Then type in the password you already use to access your account information.
[Joe Bob accesses the Providence site. Once he has logged in, it takes about 10 seconds for the screen to show the spreadsheet. Figures change as his portfolio is updated with real-time market fees. He has holdings in a series of stocks. FruitBat Technologies is trending up quickly. CSR is looking at the same screen with an Integer spreadsheet on it.]
Joe Bob: Why are the figures changing?
CSR: Because our site has the Integer real-time collaborative spreadsheet built into it. Your portfolio value is updating each time there's a trade on the market.
Joe Bob: This is really great. I can see why you sent me this disk. But, what if I want to save this spreadsheet?
CSR: You can just save the data as an Excel spreadsheet.
Joe Bob: Cool! My FruitBat stock is going up quickly. Why?
CSR: Click on the FruitBat link and see our online analysis.
[Joe Bob clicks on the link and sees a report that FruitBat is rumored to be a take-over target.]
Joe Bob: What if I sold some FruitBat and bought some PommeDeTerre?
CSR: Click on the "What if" link, and you can see the effects on your portfolio, including the total risk.
[Joe Bob clicks on the link and the "What if" screen appears. CSR logs into the same spreadsheet that Joe Bob is using for his "What if" calculations.]
Joe Bob: Lemme see. Okay, sell 2,500 shares of FruitBat and buy 1,000 shares of PommeDeTerre.
[Joe Bob changes the figures and his "Value at Risk" indicator goes above 30%.]
Joe Bob: This is good, but I can see from the pie chart on my screen that the risk factor is really high. Why is that?
CSR: PommeDeTerre is a very volatile stock, and thus your risk is higher. If you want to move to something more conservative, you could increase your holdings in Proctor & Gamble.
[CSR moves some shares from PommeDeTerre to Proctor & Gamble, and the "Value at Risk" drops on both screens.]
Joe Bob: Hey!! How did you get into my computer?
CSR: We're sharing the same analytics engine here on one of the Providence Fund's computers. We both have a view into it. I can see your changes, and you can see mine.
Joe Bob: I have to check with my wife, but she's at work. Can she see this as well?
CSR: Sure. She can go to our web site and download the Integer plug-in.
[Joe Bob conferences in his wife, Peggy Sue.]
Peggy Sue: Hi. Oh, heck, Joe Bob, I installed the Integer plug-in last week, when I went to the Providence site to check our portfolio. Didn't I tell you? Just took a few minutes. You're always behind the curve. Okay, here we go? I see the "What if" scenario. I don't think we should buy so much PommeDeTerre.
Joe Bob: But Frank said it was a good bet.
Peggy Sue: This is the same Frank who told you to buy Pan Am? No, let's take our gains from FruitBat and move them into tax-free municipal bonds.
[Peggy Sue updates the scenario and the changes show on everyone's screen. The risk factor drops.]
Joe Bob: Okay. That works. How do we make this trade?
CSR: Press the "Execute Trades" button.
[Joe Bob presses the button, and he is returned to the portfolio screen, which is updated to reflect the trades.]
Joe Bob: I guess it was worth installing that application built with Integer. This is the most powerful tool I've used to do trading. How much extra does this cost?
CSR: It's free for active traders.
Peggy Sue: That's what I like to hear. Now that it's so easy for Joe Bob and I to work on our portfolio together no matter where we are, you can bet we'll be trading a lot more often.
CSR: Thanks for being a Providence customer.
Joe Bob: You made me $25,000 and made my wife happy. Thank you!
Summing Up
This scenario demonstrated how Providence gained tremendous customer loyalty in a fickle business from Joe Bob and Peggy Sue through applications built using the Integer application server. Now, Joe Bob and Peggy Sue can work on their portfolio together and with their Providence CSR as though they are all sitting around the same table, no matter where they are. All they need is Internet access. If Joe Bob and Peggy Sue want to work with their entire family across the Internet, they can do that too, because Integer is completely scalable. If they like, they can also import and export any changes they make into Excel or Lotus 1-2-3.
Integer enables companies to build very powerful, real-time, collaborative analytics systems that can be shared across the Internet. Of course, Joe Bob and Peggy Sue did not have a lot of time to waste in this typical scenario. It's essential when working directly with customers that they can access their account information very quickly.