Many IT companies have decades of experience developing and delivering apps to customers. Yet, they aren’t successful. The reason is apparent – they build their applications using legacy systems, tools, and processes, which don’t inspire today’s customers. 

Many companies believe modernizing applications is exorbitant. 

Nevertheless, using legacy systems for years is the real problem, leading to uncontrollable expenses and unsatisfied customers.

The need for application modernization is growing stronger among companies. 

According to a comprehensive research report by Market Research Future (MRFR), “Application Modernization Services Market” information by Type, by Organization Size, by Industry Vertical and Region – Forecast to 2030″ market size to reach USD 24.8 billion, growing at a compound annual growth rate of 16.8% by 2030. (Source: Globalnewswire)

The report shows that companies have realized the benefits of modernizing their existing applications. 

Yet, many companies still shy away from investing in modernization, fearing a few challenges. 

If you’re of them, this post is exclusively for you. I have detailed some of the challenges and steps for building a practical application strategy for your business. 

7 Steps for companies to develop a winning application modernization strategy

1. Identifying legacy application/portfolio
2. Knowledge gap
3. Obsolete applications/systems/process
4. C-suite and employee buy-in
5. Financial limitations
6. Lack of resources and support 
7. Finding a reliable application modernization partner

Now let’s see them in detail

1. Identifying and evaluating legacy applications

Getting started with modernizing legacy applications without any need makes no sense and can cost your business staggeringly. 

Step #1 – Foreseeing the business value the modernization effort provide

The first step of your modernization strategy is to identify the legacy applications. The next step is to ensure the RoI of the modernization efforts. 

If the application upgrade is not improving your revenue or customer experience, there is no point in investing in one. Ensure the application needs an upgrade. 

Step #2 – Ensuring the business fit and agility of the application modernization

Also, ensure whether the upgrade will make your customers’ lives using the application seamlessly. The application should be business fit – in other words, the employees should enhance the features or upgrade the application in the future without any hassle. 

If your applications lack agility and are not scalable, then it is evident that your modernization efforts have failed miserably. 

2. Knowledge gap

A prime challenge most dealing with application upgrades face is the knowledge gap. Not every company has the right talents to leverage business advancements’ comprehensive benefits. 

Having the right talents having in-depth skill sets about the application development, latest trends, advancements, and customer experiences (UX) is all-important before setting your application modernization efforts in motion. 

3. Dealing with obsolete applications/systems/resources

Companies heading for application advancements must take a clear stand on the obsolete applications/systems and resources. 

Remember, not every application needs an upgrade or modernization. Sometimes just removing the legacy applications from the process can significantly improve your business’s performance. 

Even the resources, not many companies focus on this. 

Resources cost high for every company, and having staff with zero skills or inability to improve the digital advancements will not improve your business or customer experience. 

Ensure which application or resource needs to be modernized and what needs to be cleaned out of the system. 

4. Getting a green signal from C-suites and employees

I would call this a massive challenge for the companies. It is never easy to get the nod from the employees and C-suite executives if you don’t have a relevant answer to their queries about the new digital initiative. 

If you can’t answer “why” your application needs an upgrade, then it is sure they might say NO to your recommendation. 

Citing valid reasons and detailing the monetization part to the C-level executives will help you get their nods. 

On the other hand, explaining the benefits and comfort employees experience can help you get their approval. 

In other words, they have a good vision strongly backed by reasoning matters a lot. 

5. Crippling financial limitations 

When settling for a modernization strategy, a critical and most important step is analyzing your financial limitations.

Application upgrades initially fancy everyone in the company, but in practice, they can quickly drain the pockets of the business heads if executed without considering the cost involved. 

It is best to set the right expectations of the cost for upgrades. 

The duration of the modernization efforts, resources, tools, and technology need to be evaluated before investing in the digitalization program. 

Having a specific budget and executing digital initiatives is always recommended for the betterment of the business. 

          Read More: The Key Benefits of Application Modernization

6. Dealing with a lack of resources and support

If you’re a small or medium-sized company, having complete control over the resources and support teams is a must. Many companies err in this step. 

The digital modernization efforts may involve many resources and support, distracting them from their day-to-day activities. 

This could potentially impact your business RoI and customer experience. Always have backup teams for modernization efforts and support to make your application modernization program successful. 

7. Finding a reliable application modernization partner 

Many companies try to modernize their applications with an in-house team. But face the challenge of resource shortage and skill gap. They can negotiate this threat by partnering with a reliable application modernization partner. 

With many companies to choose from, finding the best may not be simple for many. 

Here are a few tips to partner with the right technology modernization services. 

Your application modernization partner should have

1. 10+ years of experience in app development
2. Dedicated team with the right talents 
3. Hands-on experience in developing applications using the latest technologies
4. Impressive clientele
5. 24/7 Support
6. Proven track record of working for clients similar to yours
7. Diverse industry advantage 
8. Full-stack app developers 
9. Seamless communication tools 
10. Right consultants for advice on improvements 

Above all, your partner should understand your business and provide services at affordable costs. 

Final thoughts

With the right strategy in place, planning and executing your application modernization strategy won’t be a big deal. 

However, ensure that every stakeholder associated with the company has the correct details about what you’re going to do and why you’re going to do that. 

If you can persuade everyone, the entire program will never be burdensome.

Stay goodbye to your legacy systems and transform them with advanced digital technologies to beat the competition. Today’s customers want applications that are fast, inspiring, and safe. 

Your competitors are almost there. Are you?

Still, relying on legacy systems? It’s high time to try the new initiatives to improve your business and customer experience. 

Need advice about application modernization? Don’t know how to get started?