)){kind=small}
Choosing a new software solution is not a decision you make lightly, especially when it affects the core of your revenue stream. As a finance professional, you need certainty: the transition must go right the first time. A seamless migration is therefore crucial.
Migrating a credit management solution
With a greenfield implementation, you don’t have to worry about data migration, but in practice, these implementations are rare. More often, you’re transitioning from an existing system to a new solution. This means not only careful configuration and integration but, above all, a smooth transition during migration.
Depending on the type of process you are supporting, this can range from a fairly straightforward exercise to a real challenge. And at FIQAS, we happen to love a challenge! 😊
Flawless execution required
When migrating a credit management solution, it must go perfectly at the crucial moment. This means all relevant data must be transferred accurately and completely, including:
- Debtor information (including any direct debit mandates)
- Invoices and their status (paid, unpaid, partially paid)
- Payments made by debtors (fully linked, unlinked, or partially linked)
- Payments made but not yet linked to debtors
- Debtor account blocks
- Existing payment arrangements and their status
- Reminder strategies and the correct follow-up actions for the invoices within them
- Outstanding tasks per debtor and/or invoice
- Invoices already with a debt collection agency
Any errors in this migration can lead to missed payments, unjustified reminders and collection actions, and failure to honour agreements with debtors. This does not only impact customer relationships but also affects your cash flow. A sloppy migration can cause problems for a long time to come.
The proven FIQAS approach to migration
FIQAS has been successfully implementing its Abillity® credit management solution for years. Migration is an integral part of this process, and we have developed a solid, proven, and airtight plan to ensure success.
At a high level, our migration plan consists of the following steps:
- Defining the migration scope – In consultation with the client, we determine the approach, scope, and potential challenges. Our guiding principle is always 100% accuracy.
- Analysing the source data – We conduct an in-depth analysis to assess the quality and completeness of the source data. If needed, we advise on data cleansing actions.
- Iterative migration – We go through multiple migration cycles (test, acceptance, and production) to refine migration scripts, establish a proven trial migration, and ensure a successful production migration. At the critical moment, we are essentially repeating a tested process, ensuring a flawless migration. This allows us to demonstrate with 100% certainty that all data has been transferred correctly and is ready for use.
At FIQAS, we guide our clients every step of the way, ensuring a complete and 100% accurate migration. Together, we make sure the transition is smooth and stress-free.
Ready for a smooth switch to next-generation credit management?
Get in touch for a no-obligation consultation. We’ll be happy to show you how our proven approach can make your migration a success!
