Application Modernization: The Key to Building Future-Ready Organizations

Is your digital empire teetering on the edge of irrelevance? In today's lightning-fast digital landscape, even a blink can mean falling behind. With technology sprinting forward, companies clinging to outdated applications are like runners in flip-flops facing Usain Bolt.

The good news? There's a secret weapon: application modernization.

Companies that have embraced modernization are reaping the rewards: boosted efficiency, slashed IT costs, and a surge in revenue. It's not a "maybe" anymore - application modernization is the jet fuel businesses need to take off in the digital age. Let's ditch the flip-flops and explore how to modernize your applications for future-proof success.

Application Modernization - What is it?

Application modernization is the process of fixing and updating legacy applications. It is necessary so they can keep up with new technology and business needs. It's the process of improving and updating old apps that may be obsolete. The goal is to make these apps easier to use, less expensive, and more reliable.

There are numerous ways to make legacy apps work better. One way is to change the way everything is put together. The app could also be moved using a new platform or the cloud. The goal is to make the application more flexible and adaptable so that it can meet new business needs and make use of new technologies.

But wait. Apps need to be updated more than just once. It's a continuous process that always needs to be improved and changed. Companies that want to stay competitive in today's fast-paced business world need to invest in their applications and keep them up to date.

Also, Read: How Cloud Adoption Accelerates Enterprise Digital Transformation?​

Why is Application Modernization Important?

Companies need to keep up with the latest trends and technologies in today's fast-paced business world. One area where this is very important is application modernization. It is a necessary step for businesses that want to stay competitive and meet the changing needs of their customers. Modernizing applications improves speed, scalability, security, cost, flexibility, and user experience.

1. Improved Performance and Scalability

Applications that were made years ago might not work as well as they should, which could make customers unhappy. For example, if an e-commerce site is too slow, sales could go down. Modernizing these apps improves reliability, performance, scalability, and responsiveness. This could help businesses offer better goods and services to their customers and improve their bottom line.

2. Enhanced Security

Legacy applications may have security flaws that let sensitive data get out. For example, a healthcare company that uses legacy software could be vulnerable to a data breach that makes patient information public. Modernizing these healthcare apps could make them safer and less susceptible to attacks. This might help businesses protect their data and reputations.

3. Reduced Costs

Maintaining and updating legacy applications can be expensive. For example, a company that uses legacy software may need to hire specialized staff or consultants to help with it. By improving efficiency, reducing downtime, and adding more automation, modernizing these applications can help organizations save money. This can help businesses put more money into growth and new ideas.

4. Increased Agility

Legacy applications might not be able to meet new business needs. For example, a financial institution that continues to use legacy software might not be able to act quickly to changes in regulations or the market. Modernizing these fintech applications can make changes easier, so businesses can respond quickly to changes as well as new opportunities in the market. This can help businesses keep up with their competitors.

5. Enhanced User Experience

Legacy apps may have out-of-date user interfaces that make them harder to use and make users less happy. For example, a transportation company that uses old software for its dispatch system may be losing business to competitors with more modern and easy-to-use systems. Modernizing these apps can make the user experience better by making them easier to use and more intuitive. This can help businesses keep their current customers and find new ones.

Check our case studies on how we helped businesses increase their revenue 10x

How to Approach Application Modernization?

Modernizing applications is not a one-size-fits-all fix. It needs to be done in a way that is unique to each organization and takes into account its specific needs. Here are some important steps to think about when updating apps:

1. Assess Your Current Environment

The first step is to look at where you are now. This means making a list of all the legacy applications you have, and figuring out how they depend on each other and how they fit into your IT landscape as a whole.

For example, you may have an old accounting system that is vital to the way your business works, but the vendor no longer supports it. By looking at the system as it is now, you can figure out the best way to update it and ensure it remains a valuable asset for your business.

2. Define Your Goals

The next step is to decide what you want to change. This means you have to decide what you want to get out of updating your legacy apps. For example, you might want to make the system run better, cut down on maintenance costs, or make the user experience better.

Setting your goals at the start of the modernization process can help you stay on track and make good decisions. It also lets you see how well your efforts to modernize are working.

3. Choose Your Modernization Approach

There are different ways to update legacy apps, and each has its pros and cons. The important thing is to choose a method that fits your needs and goals the best.

For example, refactoring or re-platforming may be the best way to lower maintenance costs and improve system performance. If you want to add new features or functions, on the other hand, you might have to start over and build the app from scratch.

4. Create a Modernization Roadmap

Once you've decided how to update, it's time to come up with a plan. This means breaking the modernization process into smaller, more manageable steps and figuring out what resources each step needs.

You can stay on track and make sure your modernization goals are met with the help of a roadmap. It also lets you plan for any problems or risks that could happen during the process.

4 R's for Updating Applications

When it comes to updating applications, organizations can do it in several different ways. The "4 R's" stand for rehosting, re-platforming, refactoring, and rebuilding. These are four of the most common ways to change a website. Each method has its pros and cons, and the one that works best for your organization will depend on its needs and goals.

1. Rehosting

Rehosting is the quickest and easiest way to update apps. It means moving an app from its current infrastructure to a more modern one, like the cloud. This is the best way to update apps quickly and easily. It doesn't require any changes to the application, so it's a quick and cheap alternative.

2. Replatforming

Replatforming is the process of making changes to an application so that it works better on a different platform. This could mean switching to a new database or upgrading to a new version of an operating system. Replatforming lets you change and improve some things, but it still works with the code and infrastructure you already have. This choice is a good compromise between how fast and flexible rehosting and refactoring are.

3. Refactoring

Refactoring means making big changes to the code of an application to make it work better on modern infrastructure. It might be necessary to rewrite the design of the application, break it up into smaller, easier-to-manage pieces, and use the newest programming languages or frameworks. Refactoring takes time and money, but it makes an application run faster and scale better. This is great for a business that wants to upgrade its old apps.

4. Rebuilding

When you rebuild, you rewrite an application using modern frameworks, languages, and technology. This solution gives businesses the most freedom and helps them get the most out of their modern infrastructure and cloud-native technology. However, this takes time and money. This is the best choice for a company that wants to make an app from scratch.

Also, read: How Does Cloud and DevOps Accelerate Digital Transformation​

Key Technologies to Modernize Your Applications

With these key technologies, organizations can effectively update their applications, improve agility, enhance user experience, and compete in today’s rapidly evolving digital environment Let us explore various technologies that play a vital role in application modernization:

Cloud Computing:

Cloud platforms like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) offer scalable infrastructure and services that enable businesses to migrate their applications from on-premises servers to the cloud. This allows for more flexibility, scalability, and fee-efficiency.

Containerization:

Containers, used by technologies like Dockerand Kubernetes, enable applications and their dependencies to be placed in standardized units. This ensures consistency across locations, simplifies deployment, and increases scalability and portability.

Microservices Architecture:

Microservices break down large, monolithic applications into smaller, independent tasks. This design encourages agility, scalability and flexibility, while providing easy updates and maintenance.

APIs (Application Programming Interfaces):

APIs provide smooth communication and integration among various applications and services. As part of application modernization efforts, it's common practice to expose functionalities as APIs. This helps in smoother integration with different systems and supports a number of applications within the ecosystem.

Artificial Intelligence and Machine Learning (AI/ML):

AIand ML capabilities can be embedded in applications to increase productivity and provide valuable insights. AI/ML technologies enable features such as predictive analytics, natural language processing (NLP), and image recognition to improve user experience and drive innovation

Modern Frontend Frameworks:

Frameworks like React Native, Angular, and Vue.js enable you to create responsive, interactive user interfaces. The adoption of this policy can enhance the user experience, improve performance, and simplify modern web applications.

Data Modernization:

Modernizing data infrastructure involves adopting technologies like cloud-based data warehouses, data lakes, and real-time data processing frameworks (e.g., Apache Kafka, Apache Flink). This enables organizations to efficiently store, process, and analyze large volumes of data to derive valuable insights and support data-driven decision-making.

Top Application Modernization Trends in 2024

Increased Usage of AI chatbots

According to a recent study published in Forbes Magazine, although customers continue to prefer human interaction, the integration of AI chatbots resulted in a notable 67% increase in online sales for companies. Furthermore, the adoption of well-designed AI chatbots presents a substantial return on investment in the realm of application modernization. While customer service representatives remain essential for more complex tasks, AI chatbots efficiently handle numerous basic customer service inquiries, significantly reducing the workload.

Extensive application of AI and ML in App Modernization

A recent study by Konveyorsuggests that more than 75% of surveyed organizations are employing AI and ML to aid in the application modernization process. AI and ML have the capability to predict customer requirements and streamline operational tasks that previously required extensive time and intricate algorithms. For example, Adiona, a company specializing in optimizing delivery routes for third-party logistics firms, employs AI and ML for this purpose. Such technologies complement high-performance computing and data caching, essential for efficiently handling substantial data volumes.

Embracing Cloud-Native Development

Cloud-native development has emerged as a leading approach in application modernization, enabling organizations to leverage the scalability, flexibility, and efficiency of cloud computing. Application modernization involves updating existing legacy applications to meet current business needs and leverage modern technologies. By adopting cloud-native practices, organizations can accelerate the delivery of new features and innovations, responding more rapidly to changing market demands.

Modernizing Application with Low-code and no-code development

Low-code and no-code development empower individuals with minimal programming skills to construct fundamental software applications, and their popularity is surging. As per a recent Gartner study, it's projected that by 2025, 70% of applications will be generated using low-code or no-code development platforms

Conclusion

Businesses that want to stay competitive in the fast-changing business world of today need to keep their applications up-to-date. By updating legacy apps, businesses can save money, make them more effective and flexible, and enhance the customer experience. Application modernization can be done in different ways, like rehosting, re-platforming, refactoring, or rebuilding. Each of these ways has both good and bad points. At the end of the day, the most important thing is to pick a method that fits the organization's needs, its current infrastructure, and its goals.

SoluteLabs can help you bring your legacy applications up to date. Our team of experts can help you evaluate your current applications, figure out the best way to update them, and put in place an updated solution that fits the needs of your business. Learn more about our legacy modernization services by reaching out to us.