Top 10 Reasons Why You Should Consider Modernizing Your Legacy Software

Top 10 Reasons Why You Should Consider Modernizing Your Legacy Software

It’s 2020…

AI powered voice assistants are now part of our everyday life…

Online events both professional and educational, have become the new normal…

Remote work is part of almost every organization on the planet…

The list goes(grows)on and on…

As modern consumers are becoming more tech-savvy and informed, it is important for businesses to deliver seamless and technology-driven customer experiences to stay competitive.

The question arises – in the face of fast-evolving technology advancements, is your legacy system capable of delivering unique solutions that meet changing consumer demands? Despite that technology is continuously upgrading, businesses are struggling hard with the obsolete software. So, if you want to lead the path and take your business to new heights of success, it is important to update your old and clunky system.

Rather than complete overhauls and software replacements, most companies choose to modernize existing legacy systems in an effort to retain the value of their legacy investment Industry veterans state that application modernization is not a singular distinct action. When faced with a legacy challenge, your approach should depend on the problem at hand and complete replacement is not always ideal.

So, let’s understand the top reasons why you should consider legacy application modernization.

1. Maintaining Legacy Software is Complex and Costly

Do you know that up to 80% of a company’s IT budget goes into keeping the legacy systems afloat? Keeping outdated software on life support is not only complex but exceptionally costly too. These systems were initially built to meet business needs and functions that are now obsolete. Maintaining these archaic systems take significant money because the technology and processes have advanced rapidly since their development.

Additionally, it becomes difficult to find relevant skillsets who are well-versed in creating and maintaining these outdated systems. As such, many companies are forced to outsource dedicated IT support and pay exorbitantly for efficient personnel who could help maintain the legacy software. Therefore, to reduce costs and complexities, businesses should consider modernizing legacy software rather than spending huge dollars on maintaining the same.

The process involves identifying what still works and what isn’t pertinent today. Only applications considered technologically relevant for the business are modernized. The advantage is today’s designers and developers are familiar with the modern systems, and therefore, they can provide dedicated support more quickly and cost-efficiently.

Reducing the cost and complexity of maintenance is one major reason businesses should consider legacy application modernization.

2. Leverage Modern Technology to Boost Performance

As technology evolves, so should your business system. However, when you work with obsolete legacy systems, making enhancements at par with the latest technological advancements is difficult. This is primarily due to a lack of skills or that the technology it is built upon is now outdated. The inability to leverage the latest technology developments can impede your operations, cause customer dissatisfaction, and put your business at a disadvantage.

Modernizing legacy software enables you to identify the opportunities and threats of using the existing technology. Instead of replacing the old system and building a new from scratch, application modernization services enable businesses to combine what is still pertinent from the existing software and build something new. By making feature enhancements based on modern technology, you can overcome the potential bottlenecks and inefficiencies in your legacy system.

This empowers companies to address the issues affecting their productivity, automate and streamline IT and business solutions, and improve operational efficiency. As productivity increases, businesses can perform operations with reduced manual labor, cost, and downtime.

3. Overcome Potential Security Threats with Legacy Application Modernization

Aging systems are more vulnerable to security threats. As the software is no longer supported or becomes obsolete, you will no longer get updated security patches from the developer. Additionally, disaster recovery and backup have become a major challenge. This results in more security vulnerabilities from malicious hackers who can use old SSL and Java exploits to break through your network.

As a result, business-critical data may get stolen, or the entire system can be hacked, posing a serious threat to your company and its users. Modernizing legacy software allows businesses to improve functionality and strengthen security features. Newer technology applications are built with advanced security measures that can help identify and prevent cybercrimes. Furthermore, with regular security patches and cutting-edge SSL encryption that come with modern technology, you can reduce the risks of cybersecurity threats.

4. Legacy Systems Impede Business Growth and Scalability

As your company grows, can your legacy application support its expanding business operations? Sticking with a legacy system built on outdated technology inhibits your capacity to leverage the latest advancements and is incapable of meeting your changing needs. If your software is unable to keep up with your fast-evolving requirements, it will impede your growth and scale.

Modernizing legacy software will enable you to leverage an advanced IT architecture that can manage your growing needs and expand operations. It will give you an enhanced throughput capacity to manage increased scale and growth.

5. Improve Application Usability by Modernizing Legacy Software

Another top reason why businesses should consider legacy application modernization is the ability to overcome application issues. A system that is aging or is passé has limited applications because it fails to support modern advancements in technology and usability. This is a primary reason businesses cannot look beyond the typical, thus, disrupting their growth potential.

However, by modernizing legacy software, you will be in a better position to leverage improved technology functions, reduce workflow inhibitors, enhance business responsiveness, and pave the way for growth. With smart and intuitive modern systems, you can learn innovative ways of doing the same things, better applicability, and improved operational efficiency.

We have successfully helped businesses transition from their legacy background to a modern architecture. Click here to know more.

6. Using Legacy Systems Impairs Mobility

Most legacy systems that businesses use today are on-premise. In industries where most people work in the field – construction, oil and gas production, logistics or warehousing, accessing the legacy software becomes impossible. These applications are mostly incompatible for mobiles or cannot be used in computers other than office devices. This affects their efficiency because they cannot access the right data or applications at the right time.

Legacy application modernization enables updating your business software into mobile-first technology that is seamlessly accessible anywhere and anytime. Modernized and technologically-advanced applications make it easier for your employees to connect to your inventory, management, or production software through their mobile devices enabling them to make strategic data-driven decisions faster and more effectively.

Using Legacy Systems Impairs Mobility

7. Modernization Helps Deliver Improved User Experiences

Do you know what differentiates two businesses offering similar products and services? It is a customer experience. However, if you still rely upon legacy business software with obsolete technology, how will it support your consumers’ fast-changing demands and expectations?

The tech-savvy consumers of today demand seamless and refreshing engagements from businesses. But your outdated business software impedes operational efficiency and affects your ability to deliver improved customer experiences.

By modernizing legacy software and leveraging modern technology advancements, you can focus on delivering value to your customers. For instance, real estate companies can upgrade their systems and use Virtual Reality (VR) to deliver more immersive experiences regarding how a property will look and feel when built. By taking their on-premise applications to the cloud, businesses can meet their customer demands more efficiently and quickly.

Legacy application modernization aids in mobile readiness, integration, and consolidation, delivering more meaningful experiences for users.

8. Easy Compliance with Legacy Application Modernization

For most businesses, international compliance standards like SOX, PCI, or HIPAA requires that the technology is up-to-date and supported. However, if you still own an outdated technology that fails to comply with strict regulatory compliance requirements, it can significantly cost your business. In case of security holes or data breaches, non-compliance can set your business up for huge penalties and fees.

Therefore, to stay compliant and operate as per the latest technology requirements, it is crucial to update your business software.

9. Older Systems Have Higher Failure Rates

Aging software systems have an increased failure rate. Lack of feature enhancement updates or security patches and poor maintenance make the applications prone to performance disruptions. As such, downtime becomes unavoidable. Increased downtime means your services become inaccessible or poor time-to-market. This affects your customer loyalty as well as business reputation.

According to a recent study, 92% of IT managers consider that performance issues, security breaches, limitations to business-critical capabilities, and service disruptions are the common repercussions that organizations face if their legacy software is not modernized an efficient and timely manner.

10. Gain Competitive Edge with Legacy Modernization

45% of respondents in a Gartner survey have indicated that modernizing legacy software is one of the top five IT project priorities. The key focus of modernization is improved efficiency and reduced costs. At the same time, organizations can better meet their consumer demands and achieve business growth with scalability. Together, these factors contribute to giving your business a competitive edge over others who still function on a legacy system.

Therefore, to stay relevant and gain a competitive advantage, updating your old business software is the need of the hour.

Read More : What’s the best method of application modernization for your business?

Conclusion

Old and obsolete systems constantly inhibit businesses from adapting to the latest technology advancements and meet privacy, security, and productivity requirements. As a result, legacy software modernization is a fast-growing priority for most organizations today. Radixweb is a legacy application modernization company that has successfully addressed all the above-discussed scenarios for various clients, which helped modernize their obsolete systems and save them much more than just time and money.

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Maitray Gadhavi is a senior business development manager with Radixweb who accelerates the growth of organizations through innovation-led custom software development. Balancing the long-term gains in an evolving industry, he brings the voice of the customers into the enterprise. Binge-watching favourite series is his idea of fun after work.