10 Steps to Ensuring Success of a Core Systems Replacement

Moving ahead, the industry has shifted its mindset from 'should I replace?' to 'how do I replace successfully?'; a new report from Celent aims to answer just that.

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Open dialogue with vendors

While business leaders need to have a strong idea of their wants and needs, Celent also considers it a "perverse tendency" to keep the vendor at arm’s length during the selection process, using the procurement function and external consultants to layer on a veneer of science to a process that is more an art. The report calls this tactic short-sighted. Also, knowing as soon as possible what the “art of the possible” is in a new system is well worth the extra effort of engaging with several vendors. During the selection process, this degree of dialogue will improve both your understanding of vendor capabilities, and the quality of the responses you receive to your RFI/RFP.


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