German bank to cut IT support costs by 85%

Investment bank Dresdner Kleinwort Wasserstein aims to slash IT systems management and database support costs by investing in...

Investment bank Dresdner Kleinwort Wasserstein aims to slash IT systems management and database support costs by investing in asset management software.

The software from Tideway Systems, called Foundation 4.6, compiles information about every system on the network and produces a report which gives IT directors an overview of their diverse IT systems and a record of changes made to them.

The software also highlights problems in the performance of applications and produces a report for managers.

DrKW, the investment banking arm of Dresdner Bank in Germany, has around 900 IT applications running on more than 3,000 servers worldwide. Around 6,000 changes to IT systems are documented each year.

The bank estimates that the Tideway software will cut the cost of running its large management databases listing its IT assets by around 85% but would not put a figure on the cost saving.

It made a pre-tax profit of £190m in the first nine months of 2003.

JP Rangaswami, chief information officer at Dresdner, said, "As a global company with a highly sophisticated IT infrastructure, this project will remove approximately five-sixths of the cost of manually maintaining multiple configuration management databases."

"It will also simultaneously generate significant related returns attributable to reduced downtime of application and management overhead in approving changes,” he added.

Between 15 to 50 staff were required to run the management databases and data had to be inputted manually before the Tideway sostware was deployed.

Initially the solution will be used to improve Dresdner's inventory, audit, compliance and change processes in multiple locations including London, Frankfurt, Tokyo and New York.

Jon Collins, a principal analyst at analyst and research company Quocirca, said that the Tideway product was useful software that filled a gap in the market.

“From around 1994 there was the bandwagon for enterprise management framework software but these systems aren’t very good at bringing information about diverse information about IT systems together and giving an overview. These systems aren’t as up-to-date or as comprehensive as would like,” he said.

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