One of our customers’ favorite parts about working with Molecule is our unique implementation process. Here are a few things that stand out:
- We don’t charge an implementation fee.
- We set up the system for you - meaning you don’t have to hire consultants (Was that your brain we could hear saying ‘cha-ching?’)
- Most of our implementations are completed in less than 90 days -- including your team feeling comfortable using Molecule’s software!
Sound too good to be true? Well, hopefully you’ll believe us as we walk through you through our process for getting customers set up on Molecule.
OUR IMPLEMENTATION PROCESS
For an exchange-trading account.
Step 1: Kickoff meeting
Estimated Time: Day 1
Key Components: Our team meets with your team in a big risk automation extravaganza. We walk through a project plan with you and talk about the details of your implementation.
Step 2: Paperwork
Estimated Time: Days 1-7
Key Components: We start setting up your portal, but the main work is to get paperwork sorted with exchanges and vendors so that Molecule has permission to start receiving data on your trades.
Step 3: Connectivity
Estimated Time: Days 5-30
Key Components: Your trades start flowing into Molecule. We start to build your positions and compare to your end-of-day FCM positions. By the end of this phase, most of our reports are running accurately.
Step 4: Verification
Estimated Time: Days 31-60
Key Components: This is the stage when we have lots of interaction with you. We verify positions and analyze P&L. We set up your VaR components if you need them. We train your team and they start to build reports so you get comfortable with the system during this stage.
Step 5: Wrap-Up
Estimated Time: Days 60-90
Key Components: If there are development requirements or customizations to your system, these are completed during this stage. Final reports are created for you, and voila! You’re all finished!
Seriously. 5 steps and you’ll be set up with your risk automation system. Plus, you’ll hear from us at least twice a month with updates on how your implementation is progressing.
RED FLAGS & SOLUTIONS
Situation: Specific trades don't flow into Molecule.
Solution: We are building out functionality into our platform to accommodate firms that use a clearing broker to execute trades (on the broker's account), as is common with traditional petrochemical companies.
Situation: Sometimes getting documents from the exchanges at the beginning of the implementation phase causes a bottleneck.
Solution: We understand this isn’t something that you do every day, so we’re here to help with that step of the process to make it as easy as possible! You can also help us along by getting contacts at the FCM that Molecule can talk to directly.
Situation: Different people at our customers' firms have different opinions on setup, reporting, etc.
Solution: We recommend you designate one point person who can act as the project manager and single point-of-contact. This tends to be a middle-office operations person who can call the shots at your firm.
Let’s get going with your implementation. FYI - if we get started now, you should be set up by the end of January. What a great way to start 2018, ammirite?! Shoot us an email at firstname.lastname@example.org and let’s chat about your specific project.