Financial technology consultancy Capco announced it has launched an "IT Complexity Model" project with German financial institution Commerzbank.
IT complexity, which generates inefficiencies and additional costs within organizations, is generally handled by CIOs and CTOs based on past experience, intuition, trial and error and financial analysis, said Capco.
However, according to the company, quantitative techniques for measuring complexity have not been available to date. The goal of the complexity model project is to enable better management of complexity by allowing CIOs to quantify and articulate short- and long-term implications of initiatives, costs over time, impacts on existing operations and the business as a whole, as well as strategic implications and justifications of high-risk projects, according to Capco.
The project is currently in its first stage of development, and other financial firms are being selected for participation in the project going forward.
"The goal of the complexity project is to foster a useful dialogue on the complexity issue, continue gathering information and data, and ultimately make a substantial contribution to how CIOs improve their organizations.\," said Mat Small, a partner in Capco's capital markets technology project, in a statement.
The IT complexity model method is detailed in a whitepaper and can be downloaded on the Capco website.