Strategies to Tip the CTRM Replacement Balance

In a recent article, I wrote about the replacement market for CTRM making the case that actually, replacing another vendor was much harder than might be imagined for many reasons. One of these reasons was that the implementation and data conversion activities were simply viewed as too risky and costly. Having gone through the exercise once, no one wanted a repeat performance. As I stated in that article, “..once a customer is invested in a solution, they will tolerate a lot before they will actually move. It’s not just the sunk cost which can vary between several million dollars to hundreds of millions. It is also the sunk cost of investing in the staff. Training them and bringing them up to speed. The thought of going through another implementation and data conversion is also a nightmare idea to many of these people. It almost finished their career the last time so why risk it again? The combination of the devil you know, the sunk cost, experience with the solution, and reluctance to do it again all contribute to the unwillingness to move.”   Seeing this to be true, vendors will try to find methods and tools to mitigate these risks… continue reading
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