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Proceve partners with CMA to revolutionize enterprise software for the financial services sector 🇨🇦💼🪙
Globally, companies spend $1.6 Trillion annually developing custom software, with a 70% failure rate and $500 Billion in annual waste. While the bulk of the cost comes from development activities, the primary causes of failure are inadequate project management and constantly changing objectives and requirements. Despite the adoption of newer project methodologies, the overall situation has not changed and the cost, failure rates and waste are not improving.
Proceve has developed advanced technologies, for which they are currently pursuing various patents, that allow them to automate up to 95% of the typical development of complex enterprise software. They have coupled this technology with a purpose-built enterprise project management system, which directly addresses the causes of failure in these large, complex projects. The combined offering gives companies the potential to save $1.5 Trillion annually, while eliminating risk and dramatically accelerating the pace of development.
Capital Markets Advisors (CMA) is a specialty consulting firm that advises the World’s largest Financial Services Firms on some of their most complex issues. “People don’t realize that the financial services sector is the largest sector for spending on Information Technology. We regularly see our clients initiating software development projects with budgets in the $100’s of millions for a single custom system.” Michael Hartig, Managing Director of CMA.
“Partnering with Proceve, we have seen up to 97% automation on a custom software development project we did for a client. This reduced what would otherwise have been years of work to only a few weeks. Proceve’s technology provides our clients the opportunity to save millions in development costs on each project,” said Michael.
“Proceve is very happy to be able to partner with CMA. Their belief in our technology and willingness to leverage our technologies and expertise on what are arguably some of the most demanding software development projects in the world has dramatically advanced our technology while simultaneously providing enormous benefits to their clients.” Paul Michaud, Founder & CEO of Proceve.
About Capital Markets Advisors
Capital Markets Advisors (CMA) is a go to firm for global Tier 1 financial institutions for software development, project management, regulatory & compliance transformation, systems integration & platform migration.
About Proceve
Proceve is on a mission to radically change how software development projects get delivered. Proceve’s technology achieves world leading levels of automation for enterprise software development with the potential to reduce global spending on custom software development by up to $1.5 Trillion annually while eliminating the risk.
About Scale Up Canada
Scale Up Canada is a not-for-profit public-private partnership dedicated to connecting Canadian innovators with industry experts and strategic investors. Our mission is to drive the global commercialization of Canadian-made innovations, ensure investor readiness for high-potential startups, and build capacity for community organizations working with Canadian founders.