Insolvency
Considerations regarding insolvencies, compliance and archiving legacy systems
Conversion of IT systems
in the case of insolvency
From active to archived status
We would like to point out that in the context of corporate insolvencies, IT systems often become redundant when the company is dissolved and operations cease. These systems may be transferred to so-called legacy systems, which may no longer be actively maintained or supported.
Necessity of archiving legacy systems
for compliance and data preservation
In many cases, the data from these legacy systems contains important information that is essential for compliance with laws and regulations.
However, if the company is dissolved, it may no longer be possible to
maintain these systems. In order to ensure continued access to important data
and fulfil legal requirements, archiving legacy systems is essential.
Achieving long-term
preservation & compliance
by archiving
legacy systems
Archiving legacy systems not only facilitates access to important data, but also ensures long-term preservation and compliance. By decommissioning and archiving obsolete systems, organisations can meet their legal obligations while reducing the operational costs associated with maintaining legacy systems.
Extensive experience in
insolvency archiving
We would like to emphasise that we have extensive experience with archiving systems in the context of corporate insolvencies. Over the years, we have successfully carried out archiving projects for numerous insolvent companies, ensuring the preservation of important data and information.
Comprehensive compliance with legal requests and requirements
We would like to emphasise that we cooperate fully in cases where regulatory requests are received and provide all necessary documentation. This includes not only the disclosure of relevant data, but also all communication and any additional measures necessary to fulfil regulatory requirements.
Analysing
the
legacy system
Our system decommissioning process begins by thoroughly analysing of the legacy system. This analysis is crucial for estimating the timeframe and costs associated with archiving the legacy system, regardless of the type of system. The results of this analysis are presented in the form of a fixed price offer, which you can accept or reject. The system analysis covers technical and business aspects, such as system access, database type and size, required reports and much more.
Project:
archiving the
legacy system
After we have conducted the system analysis, you can decide whether or not to carry out the project with us. Every project begins with a kick-off meeting, where your team meets with one of our experienced project managers. We take over the archiving tasks for your legacy system and thus relieve your capacities. The project includes various milestones, such as system access, data export, data transfer and documentation of all processes. Each project usually takes between 3 and 6 months, depending on the complexity of your legacy system. Our team and project manager will be at your side throughout the entire process.
At the end of the project, we conduct test and acceptance phases to ensure that all data has been successfully transferred. We conduct these phases using minimal resources and ensure that all requirements are met before the project is completed.
Results:
archiving the
legacy system
By switching to our specially developed ViewBox software solution, all important tables and documents are transferred there in preparation for future requests. ViewBox, a search system, enables easy and efficient access to archived data and documents. In addition, we reconstruct all important reports to ensure that important information remains available even after the original system has been decommissioned.
Once ViewBox has been implemented, the original system can be decommissioned.
Once ViewBox has been implemented, the original system can be decommissioned.
At the end of each project, you receive comprehensive documentation so that, even years later, an expert third party can see how the archiving was conducted and, above all, how it was tested. In addition, we store all individual tests and individual archiving steps in a Jira ticket system until the archiving system is deleted.
The World of ViewBox
As a modern scan and search system, AvenDATA’s ViewBox software enables data to be searched, analysed and shared quickly and efficiently. ViewBox also offers an automated function for deleting data after a certain period of time. Using reliable cloud infrastructure, ViewBox ensures secure access to your data via an intuitive web application.
ViewBox undergoes regular security audits and is already used in hundreds of organisations to retrieve historical data from decommissioned legacy systems. As a proven solution, ViewBox provides a reliable way to access and use historical data effectively.
Cost-efficient solutions
in insolvency cases: our commitment
We understand the urgency of cost-efficient solutions, especially in insolvency cases, and we would like to emphasise that this is exactly what we offer. Thanks to our many years of experience and expertise, we are able to offer effective and economical solutions that meet the specific requirements of insolvent companies.
In insolvency cases, reducing costs and maximising resource efficiency are paramount. We endeavour to support our clients in these challenging situations with cost-efficient solutions that still meet the highest standards of quality and effectiveness.
Continuous Support
for Consultants and Auditors
We pride ourselves on being available to our clients at all times for any type of enquiry, from tax advisors, accountants and auditors to legal and specialised departments. Since the beginning of our business, we have become used to working closely with external experts and dealing with enquiries quickly. Our dedicated team is able to efficiently guide you with such enquiries and provide professional support for all queries.
Contact us for a Smooth Decommissioning of Your Legacy Systems
Our experienced team is always on hand to conduct the decommissioning process efficiently and cost-effectively in a short timeframe, regardless of the type and version of your system.
Trust AvenDATA to successfully decommission your systems and contact us today for more information.
