Quite rightly said when you mentioned about the issues with the large European or american financial organisations which are sitting cashless. When no cash, they cannot think of new car bacause new one comes with a premium. No matter even if the vendors
launch multiple variants (from a basic one to full-specced), the banks dont have the money and hence dragging the existing setup.
The immediate need is to address the core issues banks are facing, reducing ops costs and increasing risk coverage across asset portfolio. IT will be one of the enablers to achieve this but t has to start with pruning down the existing car bit by bit. In
parallel picking the newer ones bit by bit and building the new car.
How true! In times like these, innovative business models that unearth latent sources of value have the best chance of upending the status quo and ushering in new technologies. In a recent example, a state-of-the-art billing / statementing solutions provider
was able to take its appeal to the next level by upgrading a plethora of over 100 legacy systems to a spanking new, unified system for no more than the customer's outflow on its existing landscape.
However, vendors need to be very cautious about developing such business models for it doesn't take much for capex-starved customers to suddenly claim to become opex-challenged as well.
Thanks for your comments Nikhil and Ketharaman! Would you say that package vendors realize this disconnect (between banks' lack of CapEx and their traditional upfront licensing/AMC model and have started to do something about it?
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