Over the last five years, many firms have looked at replacing their legacy CCM systems but chose not to follow through for a variety of reasons. The main reason these projects didn’t move forward is total project cost — mostly driven by the size and complexity of the document/content migration effort. Stack those big-ticket projects up against customer and front-line-facing digital automation efforts, and it’s no wonder the CCM replacement was put on the back burner.
But when is the right time to re-look at the CCM platform for both functional and fiscal reasons? Let’s explore the top five reasons you should re-examine a CCM platform replacement.
Top 5 Reasons for Considering a CCM Platform Upgrade:
- Legacy platform has inadequate capabilities
- Legacy platform is poorly supported or nearing end of life
- You needed it five years ago but couldn’t pull the trigger
- Your legacy support staff are busy calculating their retirement dates
- That huge bill for transition cost can now be cut significantly
Most firms are looking to find ways to engage their customers in an ongoing two-way conversation as opposed to a uni-directional push. This is often a cornerstone of their customer experience strategy. But you need to have digital communication capabilities integrated with customer insights and personalization to achieve this, and ultimately to achieve a true omni-channel communications and transactional experience.
Legacy Platform is Poorly Supported or Nearing End of Life
Support issues exist both in-house and from supplying vendors. Support staff and budgets have often been cut back to bare bones. Firms struggle to keep up with the daily volume of business-driven and regulatory changes. The combination of these issues often results in putting off the last upgrade from your vendor, or in many cases the last several software releases. Now you’re facing a major upgrade to avoid an end-of-life scenario on your old software version. External support issues exacerbate the situation, as more than one major CCM platform is essentially on a limited update program, which the vendor may or may not admit to. Either way, you continue to fall behind your competitors who are on a modernized CCM platform.
You Needed it Five Years Ago but Couldn’t Pull the Trigger
Whether driven by capital allocation issues, change management conflicts or misalignment with corporate priorities, your project has been on the shelf gathering dust. Meanwhile, your peers and competitors have made investments, and you’re struggling to keep pace. By most metrics, the economy is currently strong with corporate revenues and profits in healthy territory. Perhaps now the funding situation is more amenable to your CCM investment, or maybe some of those other priority projects are nearing completion.
Your Legacy Support Staff are Busy Calculating Their Retirement Dates
Call it the greying of America, the silver surfers or the baby boomer generation impact, but many of Doculabs’ clients are well aware of the high percentage of current staff that are retirement eligible and even retirement-likely over the next five years. This potential brain drain could seriously impact your ability to deliver on customer experience and communications enhancements in the next few years. If you’re sitting on an outdated legacy platform, how successful will you be in attracting the best and brightest to work on this platform as the existing staff turn in their user IDs for motorhomes, plane tickets and beach chairs?
That Huge Transition Cost Bill Can be Cut Significantly
Reduced cost is the most significant reason to reconsider your CCM platform modernization effort. Two primary factors are driving down the cost of platform migrations: CCM in the cloud and use of AI, ML and NLP technologies for content assessment and refactoring.
As firms move more and more of their processing into the cloud, CCM vendors and service providers are following suit with multi-tenant cloud hosting environments. As with other processes, the switch from on-premises infrastructure with large capital expenditures, fixed costs and long timelines can be replaced by a variable cost model and faster speed of implementation.
Perhaps most significant is the emerging use of content analysis tools to dramatically reduce the volume of content that must be migrated, resulting in much lower cost and shorter timelines. At least a couple of the CCM vendors have created their own tools for doing the advanced content analysis that will help identify redundant content and suggest rationalization and refactoring opportunities to greatly accelerate optimization of the future content platform. Some are even targeting specific competitor platforms for migration. Other firms are looking at ways of using their own emerging skills with AI, ML and NLP technologies to perform similar types of content analysis. Whichever approach you choose, the opportunity is there to reduce prior migration costs and effort estimates by as much as 30% to 50%.
There are many great reasons to upgrade or replace your legacy CCM platform(s). Now’s a good time to seriously consider pushing this project into your 2020 pipeline. Contact Doculabs for assistance in building a strategic plan and business case to move your CCM program forward.