Guide / Toolkit
Technology Investment Decisions: 10 Key Questions
Key questions to consider before making a technology investment
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This paper lists ten key questions that management of a financial institution should be able to answer while considering investing in technology:
- Why is the technology being implemented?
- What are the alternatives considered?
- What are the criterion and processes that were used to select this particular technology and vendor?
- What returns can be expected?
- What are the requirements to implement the technology?
- What are the cost implications of implementing the particular technology?
- What are the steps required to change key business processes and ensure full advantage of the new technology?
- What is the vendor's capacity to provide technical support?
- What quantitative benefits do we expect to realize during the pilot project and once it is complete?
- What investments need to be made to make the pilot project successful and what will be the consequence of rejecting the proposal?
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