{"id":1476,"date":"2013-03-13T14:22:00","date_gmt":"2013-03-13T14:22:00","guid":{"rendered":"http:\/\/www.indataweb.com\/?p=1476"},"modified":"2024-09-20T10:36:04","modified_gmt":"2024-09-20T18:36:04","slug":"legacy-systems-the-nexus-of-applying-experience-to-inefficiency","status":"publish","type":"post","link":"https:\/\/www.indataipm.com\/legacy-systems-the-nexus-of-applying-experience-to-inefficiency\/","title":{"rendered":"Legacy Systems: The Nexus of Applying Experience to Inefficiency"},"content":{"rendered":"<p>A recent survey found that it is more expensive to maintain legacy systems vs. current \u201cstate-of-the-art\u201d systems. \u00a0No surprise there. Legacy systems usually require additional staff who are familiar with the \u201cquirks\u201d of the specific legacy systems in question. In addition, these individuals are also usually versed in a \u201cworkaround\u201d philosophy where, to their credit, they often build elaborate, manual workflows around the lack of automation and inadequacies of the legacy system.<\/p>\n<h2>The Inevitable Fate of Legacy Systems<\/h2>\n<p>As a general rule with regards to technology, legacy systems in whatever form they exist will ultimately be replaced. \u00a0It\u2019s just a matter of time. \u00a0For buy-side investment management firms, the ongoing maintenance of legacy systems has another negative residual effect that is extremely significant: it ties up otherwise very intelligent people who often use their keen intellects to manage fundamentally inefficient processes. \u00a0The result is often a gross mismatch of skill sets, not to mention it is a complete waste of resources for the firm. \u00a0It goes without saying that \u201csmart\u201d people\u2019s energy should be primarily focused on the firm\u2019s organizational goals of managing investments, servicing clients, maintaining compliance, and growing assets.<\/p>\n<h2>The Human Factor: Employee Satisfaction and Productivity<\/h2>\n<p>In our experience, replacing legacy systems not only has the positive effect of improving operational efficiency, enhancing compliance, and reducing long-term costs, but it also has the positive effect of freeing up the time of smart people in operations, technology, compliance, and trading to do what they do best.\u00a0 The result is most often a happier and more competitive organization.\u00a0 Saving money is important, but having happy and productive employees is priceless.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a general rule with regards to technology, legacy systems in whatever form they exist will ultimately be replaced.  It\u2019s just a matter of time.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stc_notifier_status":"sent","_stc_notifier_sent_time":"2023-09-07 14:59:57","_stc_notifier_request":false,"_stc_notifier_prevent":false,"_stc_subscriber_keywords":"","_stc_subscriber_search_areas":"","content-type":"","footnotes":""},"categories":[100,46,41],"tags":[],"class_list":["post-1476","post","type-post","status-publish","format-standard","hentry","category-blog-articles","category-legacy-systems","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Nexus of Applying Experience to Inefficiency | INDATA<\/title>\n<meta name=\"description\" content=\"A recent survey found that it is more expensive to maintain legacy systems vs. current \u201cstate-of-the-art\u201d systems\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.indataipm.com\/legacy-systems-the-nexus-of-applying-experience-to-inefficiency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Nexus of Applying Experience to Inefficiency | INDATA\" \/>\n<meta property=\"og:description\" content=\"A recent survey found that it is more expensive to maintain legacy systems vs. current \u201cstate-of-the-art\u201d systems\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.indataipm.com\/legacy-systems-the-nexus-of-applying-experience-to-inefficiency\/\" \/>\n<meta property=\"og:site_name\" content=\"INDATA\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-13T14:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" 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