Think Through Legacy System Replacement, Then Move Forward With Confidence

by
in Blog
on Friday, 25 March 2016 17:56

Is your company among the many established businesses that still use mainframe legacy systems for payment processing? Are you looking to switch to a better and more modern solution but don’t like the idea of abandoning a system that’s still working? Maybe you’re worried about data migration and other issues too.

Since most business operations revolve around financial transactions, nothing is more important today than a robust and feature-rich payment processing solution. That means keeping up with the times by acquiring and offering the latest payment features is essential for continued success. But how can you move forward?

When considering legacy system migration, you must take into account many things, including established banking integrations, functioning connections with POS and CRM systems and all the data stored in and accessed from the legacy system. Those things may be working fairly well, at least most of the time. But they’re aging out. And the people who set up your complicated and delicate system may not be with you anymore, so they can’t help you with legacy system modernization.

Things To Consider Before Legacy System Replacement

Moving forward into the modern world of payment processing is dependent on migrating all those integrations, all that logic and all that data. Here are some migration aspects your company must consider before you can move to a modern new payment processing gateway:

PCI-compliant environment preparation. Using either a hosted solution or your own servers at your own data center, you must prepare an environment for the new payment solution and install the software. If PCI compliance hassles don’t appeal to you, a hosted solution might be the best choice.

Integration optimization. You may choose to phase out some older, rarely used integrations so you can move forward. Examine transaction volumes and other details to determine which integrations are crucial and which should be abandoned.

Front-end systems analysis. You must decide whether existing front-end systems are still needed and relevant with the new system. This includes an analysis of the POS and CRM systems as well as websites, online services, mobile terminal solutions and more. For example, does the new solution offer a good alternative to your legacy billing services?

Business process examination. With a new system, many business processes will have to change, including merchant onboarding, file management, settlement, funding, reconciliation and more. But with a modern gateway, these processes may be easier than ever.

Data migration strategies. Data will have to be moved to the new system, including merchant settings, tokens, recurring billing schedules and all transaction activity. Your new system may make this easy for you, but you’ll have to get the data out of the old system first.

Now Is The Time To Move Forward

Our intent isn’t to discourage you from moving forward with legacy modernization. In fact, at PayVisors, we work daily with companies that want to move forward with modern new payment gateways that better meet needs and offer a wider range of features, including omnichannel support for today’s online businesses.

Isn’t it time your business moves forward, even if your legacy system hasn’t quite failed yet? That old solution won’t get any better, and the world of payment processing is sure to get more complex. Let us help you get ready for whatever comes next with a feature-rich payment gateway that meets current and future needs with ease.

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