Old typewriter legacy systems

The ‘Staring you in the face’ way to deal with legacy systems

You know how it is – you get so used to the standard solutions from legacy systems and ways of doing things that it becomes hard to see the wood for the trees.

This is especially true for CIOs and other C-suite leaders when they start to confront the issues raised by legacy systems. And it’s certainly the case in larger businesses where core financial systems have often been around for a long time, or inherited through merger or acquisition.

The problems

  • Legacy systems can be 20, 30 or even 40 years old. They are often beyond upgrading or updating and were never designed to meet the challenges and opportunities of the modern, real-time world.
  • Many legacy systems still perform a useful function however and have been adapted to the way the organisation works with many other applications reliant on them. 
  • Investment in complete new systems is expensive, risky, and requires justification to the board.
  • Integrating a large number of legacy systems seems like an impossible task.
  • There is nervousness around the ‘rip and replace’ approach and its impact on the business.

Does any of this sound familiar? We’ve spoken to many organisations where these are the most significant problems they are facing when they audit their current systems estate. Everyone in the business knows that using legacy systems is holding the business back in one way or another, but there is often disagreement on the best way to move forward.

Your dream solution

When we ask CFOs and CIOs what their dream solution is to this problem, they usually say it would be:

  • inexpensive
  • tailored to their top challenges and business requirements
  • implemented with minimal disruption
  • a solution that can flex with the business as it works through changing its legacy systems

Why allocate huge budgets on changing all your systems if you don’t really need to? The dream solution is not a complex replacement or migration model that takes months, annoys your people and doesn’t produce the results you want.

The dream solution is a system that’s already tailored to your needs by the time it’s installed. It’s a system that sits alongside of all your existing systems, collating your data into a common model. It’s a system that can scale, so that you can use it to solve an initial challenge, and then expand it to manage other priority business issues.

And it’s a system that will continue to do its essential work even if you choose to change your legacy systems in the future, meaning:

  • Maximum optimisation of resources
  • Maximum business analytics output
  • Minimal cost
  • Minimal disruption

Promoting co-existence

Unless you have unlimited budget and unlimited time, you need to look for a solution to your legacy IT issues that promotes co-existence. Find a way to enhance your data quality, analysis and performance without duplicating what you already have, or paying a lot of money to change everything.

With multiple legacy applications or systems with your organisation, you need a roadmap to modernise tech that is depreciated, dependent on other systems, lacking support resources, or likely to be switched off by the original provider.

Even if you are already in the process of transformation – implementing a new ERP system for example – you are likely to still have other legacy systems in place, covering functions that your ERP doesn’t support.

And bear in mind that whenever you buy a new technology solution, you don’t just have to set aside time to implement all the changes it brings – it can also take many months to structure the new system to your needs – creating the analysis and reporting that suits your business.

The solution that’s staring you in the face? A pre-tailored, single platform AI-driven business insights solution that delivers results from day one – without you having to get rid of a single system you already have.

Supporting your tech roadmap

We can help you to build a roadmap that supports you to evolve your technology estate, using a phased approach. This gives you a balance of risk of legacy vs. cost to update.

This balanced approach is important – we don’t replace anything; we simply help you create the initial stability that allows you to plan and budget for longer-term change. At the same time, our platform centralises your existing data, analyses it to deliver actionable business insights and helps you to improve forecasting and planning.

Want to know more? Download our free guide: CFOs and the Data Challenge, or contact us directly today.