In today's ever-evolving digital landscape, staying relevant is a constant battle for businesses. With the rapid advancement of technology, companies that fail to adapt can easily find themselves falling behind the competition. Application modernization is a critical tool that can help businesses keep up with the fast-paced business world. According to the recent report from marketsandmarkets, the market size of application modernization services is expected to grow from 15.2 billion USD in 2022 to 32.8 billion USD by 2027. The companies that embrace modernization have seen several benefits including increased efficiency, reduction in IT costs and boost in revenue. With such staggering benefits, it's clear that modernization is not just a luxury but a necessity. So, let's dive in and explore the world of application modernization and how it can help businesses thrive in today's digital age.
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.
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.
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.
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.
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.
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.
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
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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.