Half of the legacy applications will be modernized in the next two years.
Digital transformation is a top priority for many companies, and a key challenge is modernizing legacy systems. According to a recent study by the Infosys Knowledge Institute, companies worldwide plan to modernize 50 percent of their legacy applications within the next two years. The study also indicates that as many as 70 to 90 percent of legacy systems are slated for modernization within the next five years. In this blog post, we take a closer look at the study's findings and present Infosys' recommended modernization approaches.
The advantages of application modernization:
Modernizing legacy systems offers numerous advantages for businesses. By leveraging modern technologies such as cloud computing, analytics, APIs, artificial intelligence, and microservices, companies can extract greater value from the cloud and their enterprise data. Furthermore, modernization improves application scalability and creates a robust digital backbone. The study also highlights that modernization leads to cost reductions, increased revenue, and an enhanced customer experience.
Three quick and effective modernization approaches:
Holistic and automated modernization strategy:
Companies should adopt a holistic view of their entire application portfolio and pursue an automated modernization strategy. This means considering both legacy mainframe systems and supporting applications to minimize risks and security concerns. Automation plays a crucial role in making the modernization process more efficient.
Strategic budget allocation:
Companies should strategically allocate their budgets to modernization. Large organizations that successfully drive modernization typically invest more resources in this area. Modernization should be a priority on the management agenda and closely linked to technology planning.
Consideration of disruptive impacts:
A phased and coexisting modernization approach is less disruptive than a big-bang approach. By allowing legacy and modernized applications to coexist and synchronizing data in both directions, disruptions for end users can be minimized. A phased approach reduces the frequency and severity of major disruptions.
Conclusion
The Infosys study highlights the importance of modernizing legacy systems for businesses to operate strategically and seamlessly in a customer-centric era. The planned modernization measures in the coming years demonstrate that companies have recognized the need to transform their application landscape. The right modernization strategy, strategic budget allocation, and a phased approach are crucial for successful modernization and leveraging the benefits of digital transformation.
Source:
Infosys Knowledge Institute – Infosys Modernization Radar 2022 for Legacy Applications
