Liquidation / Insolvency
We have the answer to your question – simply use our ViewBox archive and free yourself from your legacy systems.
Liquidation / Insolvency is
still NOT the End for your Data
A common problem of not realizing the importance of data in future has its own share of issues in case of a liquidation or insolvency. There is a requirement of keeping the legacy system data for future references. Moreover, this data is to be kept for fulfilling various requirements like providing access to the financial authorities and using the data for custom audits or income tax audits. Apart from these requirements, the data might be required for tracking the deliveries, managing the supplier information, etc. Above all, these requirements are generally required at an international level and are not limited to one country only.
Whether it is liquidation or insolvency, there are various issues related to both these problems. The legacy application is not the only issue as the resources are no longer available after an insolvency. A similar situation arises during the information gathering to understand and analyze the legacy systems.
AvenDATA takes care of all such issues and ensures to take care of these applications without the need to allocate extra resources at your end.
What happens if you decide for us?
STEP 1
System Analysis
Technical Part for Clarification
access to the system(s) (VPN/Citrix ...)
required rights for the system(s)
coordination of contact person(s) (professional and/or technical)
type/size of database (for example, Oracle/721 gigabyte)
definition of export memory/shared memory
system version/name
coordination of backup processes
... and some more
Business Part for Clarification
discussion/agreement/screen recordings of the required standard reports, for example, balance sheet, trial balance, sales order, etc.
discussion / agreement / screen recordings of the additional report(s)
... and some more
STEP 2
The archiving project
After the successful completion of the system analysis step, you need to decide and start the project with us. Once decided to start the project, there will be a kick-off meeting. In this meeting, your team will get accustomed to our experienced Project Manager. It is important for us to unburden you of your resources while we perform the archiving process.
Introduction of all the participants
Access to the network
Presentation of the process model
Coordination of a project plan
Access to the system
Coordination of weekly Jour Fixe meetings
Access to the database
More points as per the requirement(s)
The project starts after the kick-off meeting. Out expert support team can also assist you in case you are stuck at some point during the project.
The following milestones are a part of the project realisation.
Access to the system
Setting up the web address or VPN access
Data export protocol/hash values
User(s) training
Data transfer
Documentation of the entire project
Data import
Coordination with accountants/auditors
Creation of the test data
Creation of the commissioned views/extraction and import of document files such as pdf invoices, delivery notes, etc.
More points as per the requirement(s)
- Each milestone ensures its own quality assurance process.
- The project lasts for a duration of 3-6 months as the duration depends on the complexity of
the situation. - You can be rest assured as our respective teams will also provide accounts/audits related support.
STEP 3
User Acceptance Test - Project Handover
Your acceptance assures the last step of this process. Post-acceptance, you will be testing the samples, checking the certificate of completeness and verifying documentation. Moreover, we will also provide our project samples for your perusal. Thus, you will have an extensive test data.
If everything progresses as per the schedule, you will then receive an acceptance report from us. At this stage, you can shut down your system(s). Now, you will observe that all the necessary information can be reviewed within the ViewBox to be archived in the best possible way.
You would realise the freedom and relaxation as the risks involved with the legacy systems will no longer impact your company. From now on, the company will start saving money in the various departments like maintenance, electricity, personnel costs, etc.
We are always there for you with our support services. This commitment holds true even after your
acceptance phase.You will be fully supported by us, for example, we will extend our support when
an audit is announced, or if further training is required, or may be a follow-up due to a change of an
employee or a group of employees.
Access to the Relevant
Data even after Liquidation
Enable Efficient and Secure
Access to the Relevant Data even after
Liquidation
CHALLENGE: How can one guarantee access to the relevant data even after the end of the company? Moreover, the data access must be without operating the older systems and using the relevant resources.
Advantages of ViewBox
FIXED PRICE
Each of our archiving projects is fixed price based, allowing you perform the necessary planning and budgeting. The fixed price includes migration and ongoing costs.
Merge & Acquisitions
The ViewBox can be used not only for decommissioning systems, but also for carve-outs required due to company acquisitions.
SAVING YOUR IT RESOURCE
By decommissioning legacy systems, internal resources are freed, which means they can be used for productive systems or other projects. As a result, your internal resources are no longer burdened.
Switch off legacy system
The main goal of archiving is to be able to subsequently decommission the legacy system. After a project with us, this refers to the application both on the old server and the old database.
DOCUMENTATION
You will receive project documentation for every archiving project, which serves as an essential evidence for the internal audit and the auditors. It takes into account evidence for data integrity, data completeness and audit security.
Multi-client capability
The archiving software is multi-client and can therefore be used for different clients and systems from a wide range of manufacturers. You are able to build an archive for all your legacy systems.
AvenDATA: Achieving Efficiency through Extensive Experience
AvenDATA founded in 2003 as a spin-off of the renowned auditing and tax consulting company Mazars GmbH & Co. KG (www.mazars.de) has become one of the leading providers in the field of legacy system archiving and legacy system decommissioning.
The AvenDATA Group operates worldwide, headquarters in Berlin with offices in Budapest, Mumbai and New York. AvenDATA has more than 600 archiving projects with more than 250 applications from different vendors. The company has an extensive global experience of more than 18 years. It has a team of 180+ experts, who are the main driving force behind the success of archiving solutions for the global clients.
AvenDATA provides specialized services like IT application decommissioning, carve-out, system decommissioning, SAP HANA, liquidation/insolvency, and mergers and acquisitions to name a few. The clients eagerly look forward to the upcoming solutions for archiving the legacy systems with AvenDATA.
Blogs
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General Data Protection
Regulation (GDPR)
We have considered everything -
even the 'Right to be Forgotten' .
ViewBox is compliant with the new European Union – General Data Protection Regulation (EU-GDPR). GDPR directs as to how the personal data must be collected, processed, and erased.
The General Data Protection Regulation act (GDPR) of the European Union (EU) is also valid in Germany from 25th May 2018. The essential updates include the ‘right to be forgotten’. Accordingly, under certain situations, the right to have private information about a person be removed from the Internet searches and other directories.
ViewBox is in accordance with the EU-GDPR guidelines wherein such data can be made anonymous. The companies will also get an additional expanded accountability for handling such data. Moreover, in case of a risk-afflicted data processing, a ‘data protection-impact assessment’ must be carried out based on a certain criterion. ViewBox by AvenDATA prepares you for all such types of new and legal fundamental requirement(s) with a complete know-how of the legal compliance.
