Businesses must constantly update and enhance their software systems to remain competitive as technology advances at a rapid rate. However, if the current software is bulky, monolithic, and tightly connected with other components, updating and deploying new software can be challenging and time-consuming.
This delay results in technological debt, which can slow down operations and harm a company in comparison to its rivals. One such example is Southwest Airlines, which was blamed for losing $800 million as a result of outdated IT systems during its news-grabbing meltdown in December 2022.
Avoid Lagging Behind
With ChatGPT, technology has advanced to the point where AI's capacity for connection-making has greatly increased. AI is capable of processing vast volumes of data that a single human could never expect to comprehend or remember. It can quickly recollect and put that knowledge to use.
Usability trends in technology are evolving quickly, so staying current is essential to prevent falling behind.
Application modernisation is one approach to solving this issue, but what does that entail? Application modernization, put simply, is the process of converting outdated programmes and technology stacks into leaner parts that are simpler to maintain and deploy.
Why Modernize Applications?
The benefits of application modernization are numerous, but let’s focus on the main four.
1. Modernization to recapture knowledge
Organisations can collect (or rather, regain) knowledge about the application, including its value to the business and its position in its portfolio, through modernization.
2. Modernization to revisit process definitions
Modernization offers a chance to review the definitions of business processes and pinpoint areas where introducing process, integration, and automation efficiencies might result in cost savings and enhanced operations.
3. Modernization to leverage lower-cost architectures and tech skills
Modernization enables businesses to take advantage of less expensive architectures and guarantees that the technical expertise needed to maintain the application continues to be a commodity.
4. Modernization to advance technology and employ generative AI and GPT solutions
Companies can boost their value and maintain an edge over the competition by improving the application with cutting-edge technologies like AI, automation, and machine learning. The use of generative AI tools like ChatGPT is just the start.
The Process of Modernizing Applications
It's crucial to identify principles to direct decision-making and to be explicit about goals and objectives if you want to gain from application modernization. It's essential to articulate a comprehensive understanding of the value offer to win over stakeholders. To make sure that it can be updated, changed, and enhanced, a target technology stack should also be developed for large efforts, coupled with a governance framework.
In order to foster a culture of continuous improvement, it is also crucial to prioritise modernization opportunities based on their business impact and value, as well as to create a roadmap for implementations and executions.
Employing multi-skilled teams with expertise in implementing contemporary applications, innovative design, and cutting-edge technical breakthroughs can be advantageous for organisations.
Prioritizing the Different Pieces
Finding stakeholders or SMEs, assessing the worth of your present apps, and defining functionality that needs to be preserved are all crucial components of the modernisation process. It is possible to pinpoint areas for application enhancement from a variety of angles, including process, data, integration, user experience, security, and infrastructure.
Then, these demands can be added to a backlog and ranked according to return on investment, risk assessment, and Minimum Viable Product. Once the corporate target architecture is complete, it can be used to identify gaps and order architectural or product development work.
Challenges to Application Modernization
The ideal strategy for application modernization will ultimately be determined by the particular requirements and conditions of each organisation. Companies can determine the best course of action for modernising their apps by taking the time to fully comprehend the issue, context, and objectives.
It can be difficult to implement change in an organisation; there are frequently obstacles and other problems that crop up along the route. The availability of resources is one problem that many firms encounter.
Finding and retaining the resources necessary to maintain current systems while implementing change can be difficult for many businesses.
Another is when people retire or leave the organisation, they lose critical application knowledge and technical documentation, which makes modernization initiatives more challenging.
Even More Challenges
Another difficulty is the ambiguity surrounding the modernization's scope. Because technology is constantly evolving, there may be times when organisations are unsure of what they don't know, which can result in "paralysis analysis" and the worry that they will make the wrong decision. Progress can also be hampered by a lack of a digital strategy or a sensible approach to rank or prioritise prospects.
The absence of solution accelerators and frameworks presents another difficulty. Another expensive option is to completely rewrite a legacy app, and an organisation might not have the funding for that.
The Sooner, The Better
With the right strategy, organisations may effectively travel the road to application modernization despite these obstacles. By employing the appropriate methodologies, it is possible to update applications in a timely and cost-effective manner while preserving the worth and integrity of the current system.
Ask yourself how much it would cost to completely miss the chance rather than how much it would cost to install new technology. You cannot afford to wait, as exciting and significant new technology is being developed every day.