Migration to cloud and leveraging new-age technologies such as artificial intelligence and machine learning are becoming inevitable for retirement plan providers. While providing a definite cost advantage, they also provide flexibility to meet the ever-changing needs of customers and regulatory bodies.
However, whatever the business compulsion, there are also major concerns that make the decision to migrate difficult.
Broadly, there are four major concerns:
- There should be no disruption of services for customers at the time of migration
- Business risks associated with failed and incorrect transactions
- Downtime for transition
- Loss of data integrity
One Step at a Time
A technology partner such as Congruent, who has technological capabilities as well as the domain expertise drawn from two decades of experience in the industry, prefers to take a more deliberate and discrete approach based on Strangler Pattern methodology.
In the Portfolio Discovery and Planning phase, the interdependencies in the system are studied and a plan drawn to migrate the applications, sequentially. It involves breaking down business services supported by the current systems/environment and building alternate functions to address the same business services using future proof technologies. This approach does not discard the existing functions but diverts new business transactions starting with low-risk transactions and graduating to complex and high-risk transactions.
This approach ensures that there is a safety net for the business users to fall back on the existing system until the new system is proven. It also ensures that there is no downtime for the transition. The old system is left to become redundant as the business flows are diverted to the new systems.
If you are looking for a risk-free migration and want to know how, we can help, contact us at email@example.com.