Replacing legacy collections software with minimum risk and maximum benefits
For decades, collections software has been delivered as a monumental project that requires a large upfront investment with limited flexibility and a long time to realise value. This state of affairs has led to many existing collections systems staying in place for longer than they should have. Familiarity is stifling progress.
Over the years, a ‘safe’ approach has left sprawling systems in place. As the digital world advances, legacy suppliers may seek to modernise by ‘porting’ on-premises systems to the cloud (to make them cloud-enabled) without delivering the considerable business advantages of a born in the cloud, microservices collections platform. To complicate matters further, many legacy systems are exceedingly complex and difficult to directly duplicate with a replacement, leaving companies effectively chained to their systems.
It doesn’t have to be this way.