Case Study: How Legacy Applications Could be Costing You $5 Million a Year
BMO Harris Bank, an international bank with over $185 billion in assets, had duplicate and legacy applications that were costing millions. This barrier was also keeping them from automating using modern technologies around mobile and cloud. This paper will review that journey as they faced rising legacy application costs and identified an effective and easy solution for recovering unproductive spend so they could focus on what they needed next in their organization to better streamline processes.
The case study will provide insight into:
- The Environment – Where industries like financial services are saddled with rising costs of regulatory compliance and a rapid-moving merger and acquisition culture that puts an increasing burden on IT.
- The Opportunity – Where sizing the opportunity for cost savings means quantifying the cost of legacy applications and their impact to IT budgets and flexibility. For most organizations, the size of this opportunity is much larger than they realize, providing a source for significant cost savings or the reallocation of funds to more strategic IT initiatives.
- The Approach – Identifying the business and technical criteria for prioritizing archival efforts in a way that maximizes benefits while minimizing disruption and cost to the business. For larger organizations, this approach is often an iterative one that may involve enablement by service partners like Flatirons to support long-term ownership of the solution by the customer.