On Modernization

I’m currently working with a large retail banking client to help them modernize their payments infrastructure. The word “modernize” is used in just about every client interaction. It appears in all the slide decks. It’s part of the business case justification. But modernization is a relative term. The big question is: What does the client mean by modernization? The existing system is a vendor product running in an on-prem application server. [Read More]

Details Matter

Why you need specific requirements

Consider the following statement: Our consultancy operates on a 50% margin. Margin is how much extra the consultancy charges on top of their costs to cover the consultancy’s costs, operating expenses, and profits. Most consultancies have a minimum margin that they’ll consider acceptable when bidding on work. But the details matter when it comes to requirements. A lot. The statement above is subtly ambiguous. How is margin calculated, precisely? I can think of two ways which make sense but result in wildly different profits for the consultancy. [Read More]