In the ever-changing world of business environment, organisations are merging and acquiring each other. They also are transforming their IT infrastructures. Some are moving towards adopting Service Orientated Architectures (SOA) to get closer to their customers. Others are using Master Data Management (MDM) tools to collect, aggregate and consolidate their reference data. And there are others who are re-architecting their infrastructures to create new horizontal, functional layers suited to business transformation. Take for example, Financial services industry is going through a period of profound transformation due to the current economic crisis. They are making extensive changes to their portfolios. There is a greater focus on compliance and risk, which is creating significant challenges for the IT department.
These changing times demand a strategic approach to application data migration. The emphasis needs to be on business processes and organisations must be able to migrate large volumes often complex data across multiple business applications, whether that is front or back office end systems.? Getting this process right is essential for business success.
There is no doubt that, data migration projects have been prone to time and cost overruns and, in some cases, outright failures. However, that doesn’t need to be the case.
VIP consultants have gained experience over time and have concluded that there are actually three main risk factors associated with data migration:
- understanding your existing data adequately
- ensuring that data relationships don’t break during the migration process
- assuring a smooth handover process at the completion of the project.