Whitepaper by ENUIT, ComRisk 2020 Gold Sponsor
Historically, the E/CTRM replacement market has been quite small and relatively slow. There simply hasn’t been so many replacements and where replacements of E/CTRM solutions have taken place, it had usually been because of a truly compelling need. Usually, that reason would be that the vendor had repeatedly and persistently failed to deliver the requirements, or support the E/CTRM installed, and usually, this would be because the vendor had been acquired, gone out of business or had dropped support of the product.
The reality was that replacements were always extremely difficult to do, meaning that users would put up with almost anything rather than go through a replacement in order to avoid having to select another product and vendor. The risk is always that this will be no better than the original and will cost of lot of time and money to do it along with all of the business disruption. The devil you know is better than the devil you don’t. Other reasons include,
• For those who had made the original choice, admission that it was a poor choice could be a career-limiting move and reflect on them poorly,
• It always seems as if it is safer, less risky and less costly to work with something you have no matter how poor it may be than start all over again and anyway “we know the supplier and have a relationship in place with them”,
• Sometimes, the sunk cost of investment into the existing legacy, interfaces, user training and so forth is simply too large.
However, E/CTRM is now well in its third decade as a software category. Much has changed over those years in terms of needs and technology. We now see a developing and growing replacement market emerging that will only grow in the coming years. There are a number of compelling reasons why the replacement market is set to grow.