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ReadersSpeak

Legacy systems could cost you your job "[T]here's a reason ‒ or 100 ‒ you
haven't ditched the legacy systems
eetu Shaw, executive partner at Clarity Insights, sent us the follow- keeping your organization running.
ing perspective on retaining legacy systems in today's digital age: Whether it's cost, effort or fear, many
financial institutions find the idea
N "We've been saying it for years, but apparently it bears repeating: of updating legacy technologies
legacy systems are killing financial institutions' digital transformations. In daunting. But it has to be done.
fact, TechCircle just shared research showing legacy systems are the greatest
barrier to digital transformation, jumping from fourth place in 2018 to first "Legacy systems will be modernized;
place in 2019. Clearly the issue isn't going away. the only question is when. As a
leader in your organization, you
can kick the can down the road
and wait to be replaced, just like
those systems. Or you can embrace
Are you tired of the Churn and Burn techniques Processor’s use? the challenges heading toward the
financial services industry head on,
becoming the leader who forges the
path forward for your organization.
Wouldn't you rather do the latter? If
so, there are three easy steps to get
started:

"1. Assess: Which legacy tech-
nologies are preventing you from
achieving strategic goals? You
should be considering digital
transformation including auto-
mation, AI and analytics ‒ what
is stopping you from making
progress in these and other areas?
Take an inventory of the systems,
then rank them in order of prior-
ity and ROI for modernization.

"2. Plan: There are many ways to
Tired of Feeing Like Another Number? tackle modernization, as Gartner
outlines [in "7 options to modern-
Let’s be realistic. We’re tired of hearing impossible promises, because in ize legacy systems."] You know
the end, they will just throw you into the fire. your organization, so identify
which options work for you. Each
We make careers! system may qualify for multiple

The Merchant Store Promise: options; list all of them and eval-
• 60 - 80% commission uate based on cost, effort and re-
• Transaction fees: 4 cents! sources.
• $5.00 service fee
• Up-front bonus ( does not effect split ) "3. Assemble: While you may be
• True revenue sharing! leading the way, you can't mod-
• Wholesale equipment pricing! ernize alone. Assemble a team
• Free Terminal and POS placement options! who can make your vision a real-
• And, one-on-one support, when and how you need it! ity. Often this team will include
technologists, business stake-
Real partner solutions for Career minded agents! holders and even outside resourc-
es who can provide guidance on
quick wins."
To setup your custom agent program,
TheMerchantStore Contact us at: 844.898.2884 What's your opinion?
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Minding your business
trends and developments? Email
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to greensheet@greensheet.com.
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