Quantios Core Upgrade Capability

Our Quantios Core Upgrade Capability

Our partnership with Quantios ensures a smooth transition from legacy systems to modern solutions. A lot of our time is spent helping organisations facing the challenge of transitioning away from their legacy systems, which have often evolved over time to become extremely complex and cumbersome, to modern, integrated solutions.

In the Trust and Corporate Services sector, this digital transformation is especially crucial for enhancing operational efficiency, ensuring data integrity, and aligning with strategic and often ambitious business goals.

Challenges of Legacy Systems

Legacy systems are often hindering scalability and integration, offer limited functionality and support for modern business processes, and incur increased maintenance costs and risk of system failures. However, system upgrades of this kind pose their own sets of challenges. The issues our clients encounter when approaching this technology evolution (which is arguably essential to their future business success) are many and varied. They include:

• The limitations of those legacy systems they are looking to upgrade, end of support agreements for obsolete systems.
• Risk around maintaining an end-of-life system both in terms of hardware and skillsets.
• Constraints of legacy systems preventing integration to a wider ecosystem of tools for the business ensuring accurate and secure transfer of data from old systems to new platforms.
• Addressing related data quality issues and inconsistencies.
• The cost of maintaining legacy hardware when the strategy is ‘cloud first’ minimising the system downtime and disruption during the migration process.

A critical consideration is often whether the business really has the resources and time available to deliver the upgrade ‘off the side of their desk’ and the potential cyber risk through maintaining legacy on prem systems.

Stakeholder Alignment and Risk Management

Stakeholder alignment is another critical aspect, requiring coordination between various departments and stakeholders to ensure smooth implementation, managing expectations, securing buy-in from all relevant parties, and ensuring clear communication and transparency throughout the project. Additionally, risk management involves identifying and mitigating potential risks associated with the transition, developing contingency plans to address unforeseen challenges, and continuously monitoring and managing risks throughout the project lifecycle.

Our Approach to System Upgrades

To address these challenges, our approach when it comes to upgrading a system like Nav One, in partnership with Quantios, is centred around collaboration, communication, and meticulous planning. We involve project managers and partner leads to ensure alignment with strategic goals, maintain regular communication with stakeholders to keep them informed and engaged throughout the project lifecycle, and use project management tools and methodologies to track progress and manage resources effectively.

Comprehensive planning and execution are key, with detailed project timelines and workstream methodology to ensure structured progress, a focus on governance, data migration, and functional/user acceptance testing to ensure quality and compliance, and iterative planning and review cycles to adapt to changing requirements and priorities.

Risk Mitigation Strategies

Risk mitigation is also a priority, with proactive identification and management of potential risks, development of contingency plans to address unforeseen challenges, and regular risk assessments and updates to ensure timely response to emerging risks. The project deliverables and benefits are designed to ensure a successful transition and long-term operational efficiency. Key deliverables and benefits include:

• The establishment of governance frameworks to ensure compliance with industry standards and regulations.
• Regular audits and reviews to maintain adherence to governance protocols, and documentation of processes and procedures to support ongoing compliance and continuous improvement.

Key Deliverables and Benefits

Data migration efforts focus on the secure and accurate transfer of data from legacy systems to the new platform, validation and verification processes to ensure data integrity and consistency, and implementation of data cleansing and transformation activities to improve data quality.

Functional and user acceptance testing is comprehensive, ensuring the new system meets functional requirements and user expectations, with iterative feedback loops to address any issues and refine the system, and training and support for end-users to facilitate smooth adoption and minimise disruption.

Enhanced operational efficiency is achieved through streamlined processes and improved integration capabilities, reduction in manual tasks and increased automation leading to higher productivity, and improved system performance and reliability, reducing downtime and maintenance costs.

Strategic alignment is also a key benefit, with the new system aligning with the organisation’s strategic goals and objectives, improved decision-making capabilities (through enhanced data analytics and reporting), and support for future growth and scalability, enabling the organisation to adapt to changing business needs.

In summary, by focusing on these key areas, in partnership with Quantios, we ensure a smooth transition from legacy systems to modern solutions, delivering significant operational and strategic benefits to our clients.