White Papers Is It Time to Replace Your E/CTRM? - Page 5

A ComTechAdvisory Whitepaper Is It Time to Replace Your E/CTRM? Inevitably, the software category has reached the stage at which the overall business case to replace older solutions is understood and has strengthened considerably in all areas. We see the beginnings of a stronger replacement market in E/CTRM starting to develop which will be a feature of these markets for many years to come. IT STILL ISN’T EASY! Despite that, changing out an E/CTRM solution still isn’t at all easy. The system isn’t a stand- alone feature and is integrated or interfaced with many other applications across the enterprise. Replacing it can be a bit like heart surgery. Not only that, but the user has to go through a selection process in order to determine which way to go. The selection and implementation will not be cheap. That is why a best practice approach needs to be followed when going through a replacement. The user needs to ask the vendors even during the selection process an extra set of questions relating to this like, • What tools does the vendor have to aid in replacement? • Does it have any sort of methodology to help everyone through the process? • Has it done this before – does it have relevant experience? • What sort of an approach does the vendor suggest for data conversion and prior period processing? Choosing and implementing a new solution is a very complex and time-consuming project and there is no cookie-cutter approach as each scenario is very different. None the less, all of these questions need to be considered and all risks associated with the migration covered off. That is why talking to the vendors about their replacement strategy and tools is imperative when undertaking the selection exercise. © Commodity Technology Advisory LLC, 2020, All Rights Reserved. 5