One of the major post merger integration challenges faced by many financial
institutions is the daunting task of merging IT centers, business
application systems, front/back office integration, webficiation
of legacy apps, etc. Now that the merger has taken place, how can
CIOs and CTOs tune their newly merged enterprises back to the smooth
running environment that existed prior to the consolidation of so
many systems and processes?
With so many complex and sometime duplicative systems now in place, in
the merger dominated financial services industry. Many executives
are up in arms as to why the new "merged" organization is not hitting
on all cylinders. Many times the analysis and implementation surrounding
the merger of systems and processes are not fully thought out. Many
of those that know the most about critical systems and processes
are not fully open about the best way to consolidate systems, for
fear of losing their level of knowledge (or their job). And many
merger consultants rely too heavily on past client's merger experience
rather than looking under preverbal hood of both firms systems and
processes before making recommendations.
How can the systems, processes and people get back into a finely tuned
engine? First, listen to the folks that use the systems and execute
the processes, from Database administrators to desk clerks - open
and two-way communications from all levels and from both sides of
the merger will undoubtedly uncover the best way to consolidate
and reduce the duplication and gaps between merged firms.