November 2010: Are You Easy to Live With?

A number of years ago I heard a quote attributed to Archbishop Desmond Tutu that, on the face of it, was mildly amusing: “Welcome to Africa—now throw away your watches.” The quote—which, it must be said, Google seems not yet to have encountered, thereby casting doubt on its veracity or source, or both—is nevertheless likely to strike a chord with most people who have traveled to parts of Africa or who have lived in an African country for any length of time. But, regardless of whether this is one of the Archbishop’s many verbal gems or not, you get the general idea: African time tends to be more of an approximation than an absolute.
This quote came to mind on the back of a recent conversation I had with a long-time colleague from a buy-side-focused technology firm. He reckoned that by simply arriving on time to a beauty pageant had all but guaranteed his firm a number of contracts. “This is their rationale,” he said, referring to how financial services firms perceive the all-important process of how they go about evaluating potential technology vendors. “If the prospective provider can’t turn up on time, or if they postpone or cancel the appointment all together, how can they be trusted to get a complex implementation right?”
Let’s also remember that technology implementations tend to be more like long-term relationships than one-night stands—user firms have high expectations from their technology providers that extend to months and years as opposed to days.
Another point he made also pertains to the beauty pageant scenario: “The beauty parade is about the best you’re ever going to see of a technology firm. If they are unreliable at the outset, and are therefore considered unprofessional by the company they are attempting to woo, can you imaging how bad they are going to be once they’ve won the contract and aren’t interested in being on their best behavior anymore?”
It’s hard to disagree with such an argument, a premise that all technology providers would do well to bear in mind. Sitting where I do, you’d be surprised by how often I get to hear of major contracts being won and lost, not on pure functionality which is what you’d expect, but rather on how easy the provider is to live with.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
BlackRock tests ‘quantum cognition’ AI for high-yield bond picks
The proof of concept uses the Qognitive machine learning model to find liquid substitutes for hard-to-trade securities.
The future of trading takes shape
The future of trading across the capital markets and the drivers likely to shape the ever-evolving industry
On GenAI, Citi moves from firm-wide ban to internal roll-out
The bank adopted three specific inward-facing use cases with a unified framework behind them.
FactSet-LiquidityBook: The buy-side OMS space continues to shrink
Waters Wrap: Anthony spoke with buy-side firms and industry experts to get a feel for how the market is reacting to this latest tie-up.
Examining Cboe’s lawsuit appealing SEC’s OEMS rule rejection
The Chicago-based exchange has sued the regulator in the Seventh Circuit Court of Appeals after the agency blocked a proposed rule that would change how Silexx is classified.
Lucrative market data deal with LSEG fuels Tradeweb’s record quarter
The fixed-income trading venue realized gains from its 2023 deal with the London Stock Exchange Group, amid soaring revenues from market data providers industry-wide.
Is overnight equities trading a fad or the future?
Competition is heating up in US equity markets as more venues look to provide trading from twilight to dawn. But overnight trading has skeptics, and there are technical considerations to address.
We’re running out of datacenters! (But maybe AI can help?)
The IMD Wrap: Datacenter and cloud adoption is being pushed to its limits by AI. Will we simply run out of space and power building AIs before AI figures out how to fix it?