This article was featured in the Q2 2017 edition of Thomson Reuters Elite’s Forefront newsletter. By Scott McFetters In the next 12 to 24 months, users of the Elite Enterprise® platform will have to decide what is the best way to smoothly transition to 3E by the planned end-of-service date. This means that your firm will need to find ways to accelerate implementation in order to get the most return on investment for the long term—and you will need to find the best option to absorb the cost of the new software. This type of decision also impacts other technology solutions within the firm and could require some expensive hardware upgrades and tertiary software upgrades.
What Is the Most Financially Strategic Way to Procure 3E?
There are several paths to successfully navigate this major change. Firms can purchase the 3E software outright or decide to finance the software which can significantly alleviate the financial and cash flow burden of what would otherwise be a significant capital outlay. Not only will financing cover the software’s licensing expenses but also related expenses such as training, implementation, maintenance, and other soft costs, along with the costs of other related or non-related projects. To learn more, read Scott McFetters’ latest article in Thomson Reuters Elite’s Forefront here. To download a PDF of the full article, click here.