With mergers and acquisitions, changing systems, or decommissioning systems, data conversions are inevitable. Without proper planning, you may expose your financial institution to missing data, data breaches, conversions dragging on for months and months, legacy hardware failure, recurring maintenance cost, increased staffing, and efficiency delays, among other risks.
With proper planning data conversions can go smoothly. The following tips can help you speed up the arrival of your data and insure the quality and accuracy of your conversion.
A really quick way you can avoid a conversion is to just place your data in a viewer. This will grant you access quickly, but has some major drawbacks. Here are some drawbacks of a viewer only option:
Your best option is to convert your legacy data into your go forward ECM product so that all of your data is together and you aren’t having to support two systems.
Vet your vendor carefully. This is the biggest risk you will encounter when performing a data conversion. Vendors will be in total control of your data and they will be responsible for an accurate data conversion and a secure data conversion to prevent missing data or data breaches. In addition, you may have to defend the vendor decision to your board if something went wrong with the data or the timelines. Do not get caught looking for the cheapest or quickest solution, but instead, look for the vendor that fits your data conversion needs.
Who We Serve
What We Offer