Your new digital banking partner undoubtedly did some discovery during the presales process. Now is the time for a much deeper dive – into your business, into your philosophy, into your culture and, of course, into your technology. Understanding where your credit union is today and where it wants to be tomorrow will help your vendor understand exactly how to make their product meet your specific needs.
This is also your first opportunity to meet all of the people who will be working together to make your project a success. In other words, this is when the bonds of your new partnership begin to fully strengthen.
From this discovery will come the statement of work, or SoW. The SoW is a detailed document that defines exactly what the vendor is going to build for you; both you and the vendor sign off on this document. And while some details will inevitably change down the road, the more precise and more accurate the initial SoW is, the smoother the project will go.