Quick Take
The COVID-19 pandemic spurred the rapid development of tailor-made applications—which are now often underutilized as their initial value has diminished. Businesses must conduct a thorough portfolio review to identify these legacy applications and modernize them, capitalizing on hidden opportunities for cost savings and enhanced efficiency.
Why You Should Care
Many post-pandemic applications, even those created recently, can be classified as legacy due to outdated technology, performance issues, or high maintenance costs. For instance, Kawasaki Motors Manufacturing Corp saved $3,500 daily by modernizing a warehouse management system—demonstrating that modernization can lead to significant cost reductions and a potential 14% increase in annual revenue through improved performance and customer satisfaction.
What You Should Do Next
Evaluate your application portfolio to identify any legacy systems that may no longer meet current demands or operational efficiency. Consider modernization strategies that will revitalize these applications and align them with your business's strategic goals.
Get Started
- Conduct a portfolio assessment. Initiate a comprehensive review of the current application portfolio to identify legacy systems that are underperforming or no longer aligned with business goals.
- Prioritize modernization candidates. Evaluate the identified legacy applications based on criteria such as operational costs, security vulnerabilities, and adaptability, prioritizing those that offer the greatest potential for impact when modernized.
- Select a modernization strategy. Choose from one of the seven modernization strategies (e.g., re-platforming, refactoring) that best fits the needs and resources of the organization, ensuring alignment with strategic objectives.
- Establish a monitoring framework. Implement a system for ongoing monitoring and maintenance of modernized applications to ensure they continue to meet evolving business needs and integrate seamlessly with future technologies.