Case Study
International Hedge Fund Trusts Outsourcing Needs to Agio Technology
In an industry where time is of the essence and trust must be earned, Agio Technology provides complex and mission critical technology solutions that allow our clients to stay focused on what they do best - maximize returns. SAC Capital Advisors, a multi-strategy international hedge fund firm and one of the world's premier hedge funds, turned to Agio to design a unique technology management service that would effectively cut costs and improve efficiency. The outcome was a partnership that resulted in expanded IT coverage and significant savings, allowing SAC to focus on the work that matters most
Climate Driven Concerns
In 2008, SAC was laboring under sizeable trade volumes and an increase in technology requirements to accommodate the business level. The booming hedge fund growth of 2001-2007 came to a halt with the financial downturn of 2008. As a result of the fiscal climate, hedge funds started looking for ways to drive down costs, while still being able to effectively maintain a dynamic business model and an ever-changing technology landscape. Outsourcing became an attractive option for controlling overhead costs within the volatile financial climate.
Agio offered pedigreed and extensive knowledge of the hedge fund industry, visionary technology solutions, and an on-shored customer support center - all equaling a valuable outsourcing solution. Agio worked with SAC in addressing their specific goals of increasing hours of support coverage, improving service levels to all business units, reducing cost of IT support, improving response time to business needs and gaining predictable cost measurements.
A Collective Solution
Agio joined forces with SAC to collect intelligence that would effectively create a high-end technology infrastructure and application management service fulfilling their high expectations of service and solutions. From the beginning, Agio took over service desk management, managed and monitored IT infrastructure, managed databases and provided detailed governance services. SAC also took advantage of Agio's Application Services including QA resources, Application Support, Configuration Management, Application Development and Trade Floor Support.
Profitable Results
Within the first year, Agio generated 22 percent in realized annualized savings. The existing department was reduced by over 30 percent. Agio operations allowed for expanded coverage with greater depth and created a stronger focus for IT management.
Testimonials
SAC Says
"Our long-running history with the founding team of Agio Technology gave us the peace of mind to forge forward into the outsourcing arena. We know first-hand their ability to manage the scale and dynamics of our environment and provide the most current technology to deliver services. Through our unique arrangement with Agio, we have been able to outsource the services we now consider to be commodities, expand our service windows, improve the overall end user experience, and spend our time focused on the work that matters most for us and our business. Our bar is very high, for ourselves and our vendors. Agio's team has been put through the rigors of what it means to execute mission-critical services for a large and dynamic hedge fund like SAC. They meet every challenge head on."