FOR IMMEDIATE RELEASE
Synaptix Systems Designs and Deploys Corporate Project Management Office (PMO) Solution for $100M Mortgage Banking & Financial Services Company
ALISO VIEJO, California – January 19, 2005 – Synaptix Systems Inc., a leading strategy and solutions firm that helps clients improve business performance, today announced with a $100M NASDAQ-traded mortgage banking & financial services client, the successful completion of an engagement to build and implement a corporate project management office (PMO).
In order to support its planned growth from an A-paper wholesaler into a multi-channel firm with a solid presence in sub-prime and A-paper markets, the mortgage banking company had recognized that it needed to build a world-class project process infrastructure & technical foundation. As the firm’s key systems and procedures had been developed incrementally in response to the daily needs of a rapidly growing business, however, these processes/tools were not capable of efficiently handling transaction volumes much beyond their then-current levels. Furthermore, Sarbanes-Oxley compliance requirements were also driving an increased focus on formalizing business and information technology (IT) policies, tools and procedures.
Synaptix Systems defined and implemented a corporate Project Management Office (PMO) that has enabled the mortgage industry client to achieve a first-rate proficiency in the consistent application of common project management methods and standards. In less than 90 days, Synaptix built and instituted a tailored PMO charter, framework, tools, systems, methodology, processes and education programs – all in use by over 600 client personnel.
“We are excited to have helped our client formalize its project management organization and infrastructure”, states Synaptix Systems President & CEO Heath Hawker. “With these PMO tools, procedures and systems in-place, the client now has true visibility into the performance of its enterprise project portfolio and is well-positioned to manage continued growth”.
The Synaptix solution has helped the mortgage banking company to improve successful project completions by over 115%. Quarter over quarter profitability has increased almost 30% and the client funded $2.5B+ in mortgage loans in the fourth quarter of 2004, a company record. Synaptix has also documented and instituted significant efficiency-geared process enhancements in the client’s systems development lifecycle.
Synaptix Systems provides strategic consultative value and information technology governance solutions that drive significant return on investment through process improvement and program/project management office implementation & optimization. The company’s approach to planning and delivering project value has yielded a sound track record of client satisfaction. Recognized for a common sense client advocacy approach and rigorous delivery methods, Synaptix has developed long-term relationships founded on continuous value creation.
About Synaptix Systems Inc.
Synaptix Systems Inc. has its corporate headquarters at 30211 Avenida de las Banderas, 2nd Floor, Rancho Santa Margarita, CA 92688. Synaptix Systems can be reached at 949-888-6640, or by email at info@synaptixsystems.com.
All company, brand or product names are registered trademarks or trademarks of their respective holders. This press release may include forward-looking statements, including statements regarding the company's product development plans, which are subject to change. The actual results may differ materially from those described in any forward-looking statement.