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1. Who are the people involved in the decision of the system?

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The implementation of BSA software is not a task exclusive to the compliance area. Other key departments, such as IT, cybersecurity, the commercial area, and even senior management, must be involved. Why? Because each one brings unique perspectives. For example, the IT team will evaluate the system's compatibility with existing infrastructures, while compliance will verify that the software complies with regulations.

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2. Does the vendor meet the required safety standards?

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Handling sensitive data, such as customer information and financial transactions, requires software to meet strict security standards. Check if the vendor has recognized certifications, such as ISO 27001, and ensure that the information will be stored on secure servers with adequate backup.

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3. Where is the information stored and is there backup available?

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It's important to know if the software stores the data locally or in the cloud, and in which country the servers are located. This could affect compliance with local and international regulations. In addition, you must ensure that there are clear backup policies in place to prevent the loss of information in the event of technical failures.

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4. What is the implementation process like?

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A good vendor should provide a detailed plan for how the software will be implemented. Ask yourself:

• How long will it take to implement it?
• What resources will your team need during this process?
• What factors could cause delays?

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Clarity at this point will help you anticipate any challenges and minimize disruptions to daily operations.

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5. What level of post-sales support will I receive?

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Technical support can make a difference in the experience of using the software. Investigate:

• What means of contact are available (email, telephone, chat)?
• How quickly do they respond to inquiries or problems?
• What types of requests can I make, such as customizations or specific settings?

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A strong after-sales service is essential to ensure operational continuity.

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6. Is the software scalable?

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The needs of your institution may grow over time. Make sure that the software can adapt to a higher volume of transactions, new users, or even expansion to other regions. Scalability should be a central factor in your decision.

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7. Does it support my current level of service?

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Before hiring, validate that the software supports the volume and complexity of your institution's current operations. This includes:

• Ability to process large volumes of data.
• Flexibility to adapt to specific regulations

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8. How long will it take to generate value for my institution?

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Finally, it evaluates the return on investment (ROI) that the software can provide. A good BSA system not only reduces regulatory risks, but it also optimizes processes, saves time and improves the customer experience. Ask yourself:

• When will the results start to be seen?
• What tangible and intangible benefits will it bring in the short and long term?

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Hiring BSA software is a significant investment, and asking these questions will help you make a more informed and strategic decision. Remember that at Complif we offer a comprehensive solution that not only complies with regulations, but also adapts to the specific needs of each institution.