Pub. 4 2015 Issue 4

The CommunityBanker 18 Don’t Believe the Hype: Core Conversion Should Not Be a Painful Process! I By Alan Buhler, VP Sales Core Services, SHAZAM f you’ve been reading or listening to the buzz about Core conversion lately, you’re probably not that excited about jumping into the process. Articles describe a nightmare scenario where your customers are irate and the process “inevitably goes sideways” no matter how much the bank plans ahead. But it doesn’t have to go that way. Simply put, if your financial institution is going to invest in a sys- tem that will be the heartbeat of your organization, you should expect…no demand that it go smoothly. So how can you make sure the company trying to sell you a new core will deliver a smooth conversion? Here are some questions to ask before you sign on the bottom line. What’s the Plan? Your core provider should plan the work and work the plan. A good conversion starts with proper prior planning. At least six months out your team should know and understand what will happen throughout the conversion process. Mapping that process together can calm fears and set solid expectations start to finish. Communication is key. Ask how customers and employ- ees hear about and understand the conversion? Your core provider should also help you articulate an internal and exter- nal marketing plan. If your employees are well informed, they can answer customer questions; if your customers are well informed, they won’t be surprised by the conversion. Who’s going to do the work? Too often IT profession- als bear the brunt of the conversion. But IT should only be one part of your conversion team. Each line of business also should be involved in conversion. This ensures they have the choice and flexibility to keep the system, practices and process- es that work for everyone in the organization. Speaking of choices…What do I have to give up in a con- version? The answer should be simple: Nothing. If you have an ancillary system you like, your core provider should be able to integrate it. That core provider should oversee all of your 3rd party vendors to make sure they are up and running when conversion happens. And by the way, it shouldn’t cost you thousands of dollars to integrate different systems. Ask your Core provider how they’ll integrate different systems into their architecture and expect integration as part of the conversion you’re already paying for. Finally, you should ask who’s going to be there when the new core goes live. If you’re going to make an investment in a new Core system, your Core provider should make the same investment in your success. A team shouldn’t just be there for a day or two around your new system going live, they should be there when issues pop up a week, two weeks, even a month after conversion. Keeping up with technological advances are key to growing your business. Fear and hype around core conver- sion shouldn’t hold your financial institution back. Set solid expectations for your Core conversion and what you’ll end up with is a smooth conversion. ABOUT THE AUTHOR Alan oversees national sales for SHAZAM’s Core Services. He leads a team of regional sales managers and sales engineers who work with community financial institutions across the country to understand the unique challenges they face with their core and platform systems. His team reviews a financial institution’s current system and then architects a solution that stands head-and-shoulders above it, works to meet the institution’s specific needs and provides the solution at a competitive price.