Upgrading your collections system to the cloud: preparation is key
Many companies are moving their IT solutions to the cloud to leverage benefits including better costs structures, faster deployment, increased scalability and access to new features from vendors who are continuing to innovate.
Companies that have been through a migration process will know that, unfortunately, these don’t come “out of the box” as standard. Like in any project, the benefits have to be delivered through hard work, and that work needs to start long before the contract is signed.
This was the case with a leading financial services provider in the United States who commissioned us to undertake a pre-implementation review of a cloud migration project.
What did we do?
We helped our client prepare for success using our knowledge of the market and experience of leading numerous clients through procurement and implementation processes. We provided additional capacity and capability to their internal teams who retained full ownership of decision making.
Focusing on value realisation and risk mitigation, we:
- Provided a proprietary total cost of ownership (TCO) model, enabling them to model projected project costs and anticipated benefits from RFI responses.
- Assessed plans for implementation, evaluating the readiness of all parties, providing recommendations on the optimum mix of skills and resources to successfully deliver the project.
- Reviewed key contract schedules to identify risks and opportunities, providing recommendations on how to secure best value for money and mitigate commercial risks.
- Provided benchmark service levels and support arrangements from our proprietary knowledge enabling them to effectively assess supplier proposals.
Reaping the benefits of preparing well
Our work armed the client with a comprehensive understanding and the necessary data to secure the appropriate budget and gain internal agreement to proceed with the project.
Key benefits included:
- Multi-million dollar cost savings achieved through better definition of scope and requirements.
- Material reduction in ongoing cost of ownership from reshaping the service needs.
- Minimised risk of cost overruns and project delays through detailed planning and clear contractual commitments that shifted the balance of risk more evenly.
- Higher service quality and performance standards through a benchmarked set of Service Level Agreements (SLAs).
- Enhanced readiness for a smooth transition to the new system, ensuring all stakeholders were aligned and ready for the change.
This case study outlines the critical benefits of undertaking a pre-implementation review to set the stage for a successful project delivery. IT implementations are notorious for cost overruns. This can be overcome by better planning and management, but this example shows that real cost benefits can be achieved well before implementation starts.
Find out more about how you can achieve benefits like this