Payment Project Paradoxes, Challenges and Success Tips Revealed in OpenWay’s Webcast Featuring Leading Analyst Firm

4 October 2012

Best practices of today’s payment industry have been summed up in an OpenWay’s webcast "Payment projects: "Agile" and other tips for success”. Trusted advisors from featured analyst firm, Gartner Inc. and OpenWay Group, leading payment software vendor, discuss the pitfalls of payment migrations and implementations. The key components of project success are highlighted, including the “agile” project management methodology. The webcast is accessible on the OpenWay website.

“The paradox with the payment implementation is that, on the one hand, you need to implement a new functionality with better performance. On the other hand, you need to implement it with zero impact,” says Kristin Moyer, Gartner’s analyst. “When a payment application goes down, then there are lost transactions, lost revenue and reputational damage.” The analyst provides detailed advice how to reduce those risks on every project stage, from vendor selection and infrastructure planning to the post-implementation system ownership.

According to Dmitry Yatskaer, OpenWay’s CTO, “The biggest challenge is that you cannot predict all your challenges upfront. The longer or the more innovative your project is, the more chance that changes will come”. Banks and processors who have to cope with inevitable changes are offered to use the so-called “agile” project management. Wim Pardon, Managing Director of OpenWay EMEA, explains that “projects are cut in different smaller projects, having, of course, in mind the end result of overall business setup. We can have the lessons learnt from the initial phase to use it in the second phase. This makes by the end that the overall project will be in time, in budget and will deliver what’s exactly needed”.

Besides the agile approach, OpenWay experts reveal four more crucial steps to the project success. The webcast also explains how Darwinism relates to the payment industry and how collaboration with a proactive vendor compares to using a GPS device.

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