75% of survey respondents say software testing plays very important role in business
JAKARTA, Indonesia, Nov. 12, 2010 /PRNewswire-Asia/ -- Maveric Systems, a leading independent software testing specialist, today highlighted a growing demand for software testing within banks, financial institutions and insurance firms in Indonesia. This finding was the result of a regional survey conducted by Maveric Systems recently, involving 150 customers from the banking and financial services vertical in the region. A significant number of responses came from participants in Indonesia.
The survey findings were shared on the sidelines of the second CXO Software Testing Summit 2010, held in Jakarta at the Shangri-la today. The event was attended by representatives from Bank Bukopin, Bank Mandiri, Prudential, State Bank of India, amongst others. Highlighting the various models of outsourcing, testing tools, performance testing and project management, the Summit gave a glimpse into the world of testing and what to look out for while making a decision related to testing. The Summit ended with a panel discussion where participants shared their views on the challenges and trends in the industry.
"The financial sector in Indonesia is seeing unprecedented growth, and with this comes the responsibility of ensuring business continuity. As a result, we are seeing a growing interest in software testing as banks, financial institutions, and insurance firms gear up to address the challenges presented by large-scale upgrades or revamps of core and support applications," said Ritendra Banerjee, Senior Vice President, Maveric Systems.
Mr. Banerjee added, "The global software testing market is estimated to reach US$56 billion by 2013, and this rapid growth will require nearly 30,000 professionals globally in the next year. In Indonesia, the estimated spend on software testing is upwards of US$150 million for banks and financial institutions on a conservative basis, with the top five players spending close to 33% of this figure." Maveric Systems is currently engaged with Indonesia's largest bank in developing an enterprise test process improvement strategy.
According to the Maveric Systems Regional CXO Software Testing Survey:
Financial institutions are under pressure to provide better risk management and transparency, while simultaneously coping with growing trading volumes, high volatility and the need to reduce IT and operational costs. As these companies roll out technology solutions to improve efficiencies and address regulatory and compliance issues, this presents a new challenge of having to test, and maintain the software through its entire life-cycle, from pre-release to upgrade. Given that organizations today are highly dependent on software-driven systems, this has become a top priority for CXOs in the region.
Presenting at the Summit, P Venkatesh, Director, Maveric Systems shared, "Through our experience with several large-scale testing projects in the region, we believe there are a number of factors CXOs need to consider as they build software testing into their plans."
Mr. Venkatesh outlined five best practices for end user organizations to keep in mind while developing a software testing strategy:
Maveric Systems is aggressively expanding in Southeast Asia, and considers Indonesia a high-growth market for its business.
About Maveric Systems Ltd
Maveric Systems is a globally trusted independent software testing specialist with a strong and dedicated focus in the E-governance, Banking, Financial Services, Insurance, Telecommunications and Healthcare sectors. Rated at a high 94% in customer satisfaction, Maveric brings end-to-end software testing capabilities to a wide array of client engagements. Maveric's client portfolio includes a wide array of leading government organizations, telecom companies, banks, financial institutions, insurance companies, product companies and system integrators worldwide. Headquartered in Chennai, the company has offices in Bangalore, Mumbai, Dubai, London, Kuala Lumpur, Riyadh and New Jersey. For more information on Maveric Systems, please visit www.maveric-systems.com
Rice Communications for Maveric Systems
Daniel Hilarion Lim