Decommissioning SimCorp®

There may be a time when a decision has been made by your firm to decommission  SimCorp and replace it with another application. We can help you explore that process and consider the best way to retain access to your data and close the system in a way that best preserves the data integrity.

 

For most or all clients, SimCorp is the core system for investments and accounting or fund processing. Thusly it holds many years of transactions, positions, and client data that will need to be archived in a way that is secure and accessible after your program is retired.

 

Our team knows it’s useful to start with the big questions.  We ask if you have fiduciary requirements to store and retain the data for several years and if so, what the nature of the data may be. We set out to make a solid plan and identify the priority of what to work on first.

 

Beyond legal or fiduciary requirements, it is useful to help shape the design for the data archive and consider how you may want to use this data down the road.  Decommissioning involves some future unknowns, and it is always a good practice to document the logic and steps and point out any limitations in the choices that were made at the time.

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Once we know the types of data and have some ideas about the scope, we need to consider the different ways we can store this data. If there is a data warehouse that stores your SimCorp data outside of SC it is important to know if it is complete or if it needs enhancing while the system is still active.

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For clients without a data warehouse, there is likely a need to crystalize or save the data in a certain state.  We can create SQL queries on the data that can be accessed when the system is no longer running.  Over time we must expect that the skill or even the hardware to start up servers and access the data through the application may go away, so depending on how long you are responsible for retaining the data it is best not to rely on restarting the system to access the data and have a more permanent solution. 

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Our team ensures meticulous detail when archiving and preparing for the decommissioning of your SC program and switching over to the next program. We work alongside you to implement the ideal data storage for your files, with consideration to future access to archived information from your legacy system and the optimal structure of saved data.