Making the case for change
How to create a business case for a core banking replacement system
In this economy, how can you possibly convince your business partners that now is the time to replace your core banking system? The answer lies in building a solid business case that is able to demonstrate the true benefits of taking on the risk, investment and upheaval of such a complex project.
Making the case for change is a new Deloitte report that takes a pragmatic approach to the challenges of building a case for change. Leveraging Deloitte’s extensive experience in the banking sector and with core IT systems, the report presents practical and proven advice on such challenges as how to articulate ‘soft’ benefits, such as operational efficiency and strengthened controls; how to tie the benefits of a core banking replacement to the overall business strategy; and how to structure the business case by considering the following three dimensions: Change the business, run the business and manage the business.
Replacing a core banking system is a huge undertaking and if the business case for change is to be approved, it must clearly demonstrate the true benefits. This report will help executives understand the critical steps needed to produce a business case that will receive a big ‘thumbs up’.