SaaS Data Migration
Given the value of your data footprint is your moat: Is it better to Buy or Build your competitive advantage?
Principles
In efforts to smooth the digital transition, business must understand the challenges and benefits tied to cloud and SaaS migration.
The positive outcomes to be gained from the transition include
- real-time responses
- operational efficiency
- mitigation of fraud risk, and up-to-date services that drive competition in the sector.
Challenges are control and cost of migration and lock-in with SaaS services.
Problem
More traditional legacy systems are finding it challenging to achieve seamless interoperability in their digital transformation journey, and are operating inefficiently as a result.
- What are the long-term benefits of transitioning to SaaS?
- How are financial institutions integrating SaaS strategies into their migrations?
- What should legacy banks be prioritising in their digital transformation journey?
Strategy
To mitigate losses and ensure consumer protection, businesses need to undergo a shift to:
- maximise scalability
- leverage operational potential
- ensure rapid regulatory compliance
- make better judgements faster in evolving markets
Where does it make sense to vibe-coding your own custom solution protocols?
Playbook
There is no singular solution that can maintain a competitive advantage and explore strategic objectives. Therefore it is vital to be adaptive in migrating between SAAS solutions to drive digital innovation and bolster growth.
Steps to follow when evaluating where to Buy or Build your competitive advantage.
- Understand the job to be done
- Form a selection team
- Identify problems
- Map the flow of value (Actual vs Desired)
- Required performance outcomes
- Create a Decision Checklist / Request For Proposal (RFP)
- Search/Demo for Vendor Solutions
- Research Reference Checks
- Model Cost of ownership
- Negotiate
Checklist
AI will make SaaS a utility, pricing models into a race for the bottom.
| Checklist | Importance (weight) A | Fit (rating) B | Combined Score C = A x B |
|---|---|---|---|
| Required Functionality Match | |||
| AI Workflow Integration | |||
| Pricing Terms and Conditions | |||
| Data Security & Privacy Compliance | |||
| Systems Data Integration | |||
| Data Access for Analysis and Custom AI Training | |||
| Data Onboarding Migration | |||
| Data Backup and Recovery | |||
| User Experience Complexity | |||
| Customization | |||
| Availability/Uptime | |||
| System response time | |||
| Accountability for QoS | |||
| Responsiveness to support requests | |||
| Responsiveness to enhancement requests | |||
| User community and network effects | |||
| Unnecessary Functionality |
Data Migration
SaaS migration must take place in increments rather than dramatic lift-and-shift projects, as the transition can be monitored and assessed as it is ongoing, allowing space for feedback and tweaks as the broader migration strategy progresses.