What was the scope of their involvement?
Initially, all we had were spec documents, so Truelogic helped with the design from the very beginning, and then wrote the code to actually build the application while keeping within the spec. That was several years ago, and they have since been the development arm of our company and have worked with us to be the technology division of our company. I think of them as an extension of our business. Our project lead at Truelogic functions very much like a product manager and a product development manager for us.
It’s a full-featured bond trading platform, so we have worked with them to develop several unique features. The most recent one is the capability for a buyer and seller to open something like an instant message exchange box, and they can bid bonds back and forth to each other in an effort to try to come to an agreement on price and execute a trade. Then there’s back-end integration into a FIX server, which is the API and the language that’s used for financial services firms’ systems to talk to one another. They’ve been an integral part of all of that.
How did you come to work with Truelogic?
We were introduced to them by a consultant that we were working with locally in Boston, and he had a previous working relationship with them.
How much have you invested with Truelogic?
It was between $500,000 and $800,000.
What is the status of this engagement?
We have an ongoing relationship with them.
The app has become the client's flagship product and the foundation of the business. Truelogic Software LLC consistently and reliably translates business requirements into functional and technical specifications. The team has integrated well and provides excellent project management.