The success of core system replacements is often determined by the expertise and quality of services delivered by systems integrators
Novarica checklist provides a guide to CIOs
Boston, MA (Feb. 4, 2020) – The right systems integrator can help projects run faster and smoother, allow knowledge transfer to occur during the process, and lower the total cost of ownership. In Establishing Solution Provider Relationships: Systems Integrators – the second of a series of briefs on optimizing vendor relationships – research and advisory firm Novarica provides insurer CIOs and their teams a set of guidelines and principles on how to start third-party relationships with systems integrators on the right step.
“In our thousands of annual conversations with insurer IT leaders, we’ve never heard a complaint that a project or relationship was managed too closely. But we’ve often heard laments over a lack of understanding or engagement from teams that have failed to meet objectives,” says Chuck Ruzicka, Vice President of Research and Consulting and co-author of Novarica’s new report. “Spending time up front to define the scope of the project-setting expectations-and then maintaining the lines of communication in the relationship will be the recipe for success with this type of project.”
Click here for the table of contents or to access the report.
Report Summary
Successful insurers build strategic partnerships with their systems integrators by establishing an effective relationship at several levels, with clearly defined roles and responsibilities. Core system implementations and upgrades are massive undertakings that often require leveraging systems integrators with experience in the selected components. The success of the solution is often determined by the expertise and quality of services delivered by these systems integrators.
This CIO Checklist highlights some of the best practices for selecting a systems integrator (SI), developing strategic partnerships, and creating a contract that defines expectations and roles for all involved parties. It is the second of four installments on establishing solution provider relationships.
The CIO Checklist
- Take a best-of-breed approach when selecting an SI team
- Choose a strategic partner versus a low-cost provider
- Define assigned resources and roles
- Outline requirements carefully and consider a discovery period
- Define deliverables, sprints, and predicted outcomes
- Define acceptance criteria
- Establish transparency
- Outline governance and escalation processes
- Understand the importance of referenceability over incentives and penalties
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: Core Systems Modernization, legacy system replacement, Novarica
