COBOL in a Post-Recession World: 3 Options for the Future

• COBOL in a Post-Recession World: 3 Options for the Future (2011)

  Today, COBOL handles 90% of all financial transactions, 80% of point-of-sale devices and connects 500 million mobile phone users. In fact, there are 200 times more COBOL transactions daily than Google searches. As the global economic situation improves, many companies face the imminent threat that their aging institutional knowledge around COBOL will retire and the smaller talent pool available will lead to critical resource gaps. With COBOL so deeply ingrained as an operating system for most established institutions, what options do companies' have to best prepare themselves for this scenario? This paper will discuss the intricacies behind three of the most viable choices: changing your legacy systems; training up younger developers; and entrusting a third-party vendor with your COBOL systems.

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