Tag: Custom Business Application
Enterprise Application Modernization is a critical need in a rapidly evolving digital world.
Application Modernization helps drive smart decisions and efficient processes. It also offers businesses a competitive edge. Organizations achieve many digital transformation goals through modernization projects. Application Modernization may be the only way to overcome handicaps baked into existing software that has become difficult to extend, enhance, or maintain.
This blog will take you through the top benefits of Enterprise Application Modernization and the top trends in application modernization to look out for in 2024. But first, let’s look at what Application Modernization means.
What is Application Modernization?
Application Modernization, also known as legacy modernization, is the process of updating an organization’s software to take advantage of newer frameworks, languages, libraries, and infrastructure. Modernization could involve migrating software to a public, private, or hybrid cloud if a business employs on-premises applications. It frequently means employing cutting-edge technologies like cloud computing, microservices, containers, and artificial intelligence. Market Research Future (MRFR) predicts that the market for Application Modernization services will reach $24.8 billion by 2030, expanding at a 16.8% CAGR from 2022 to 2030.
Wondering if you can modernize your Enterprise Application without disrupting your daily operations? Our experts have got your back!
The Top Benefits of Application Modernization
Application Modernization provides several benefits to companies, including increased efficiency, agility, and competitiveness. Here are some of the principal advantages:
1. Scalability: Modernized apps are more easily scaled to support higher transaction volumes, data sizes, and more users – allowing enterprises to adjust to changing business requirements quickly. Scalability future-proofs applications. Moreover, it is easier to find skilled developers to maintain an application when the software has been modernized.
2. Integration With New Technology: Application Modernization is an opportunity to take advantage of new technologies like Cloud Computing, Microservices, Containerization, and Artificial Intelligence – advances that can extend an application’s capabilities and performance more rapidly or at lower cost.
3. Enhanced Security: Legacy programs may include security flaws, and legacy application modernization enables firms to apply the most recent security protections. This helps to secure sensitive data and lowers the chance of security breaches.
4. Agility And Quicker Time-To-Market: Modernized apps isolate functional elements better. That means code changes have fewer unintended side effects, making the software more flexible and adaptable and enabling businesses to react swiftly to market changes and client needs. This agility helps to accelerate development cycles and reduce time-to-market for new features or products.
5. Competitive Advantage: Organizations that engage in Application Modernization get a competitive advantage by exploiting cutting-edge technology and keeping up with industry developments. This may result in more market share, happier customers, and more favorable placement in the industry.
Top Application Modernization Trends To Lookout For In 2024
There’s no doubt that Enterprise Application Modernization is becoming inevitable. To stay future-ready, modern businesses must stay updated on the latest trends in application modernization. Here’s an attempt to clarify what companies must watch out for this year to stay relevant in the market.
1. AI-Driven Application Modernization
Combining Artificial Intelligence (AI) with Machine Learning (ML) has become an extremely popular trend. Modernized applications use intelligent elements to improve decision-making, automation, and user experiences. Enterprises are utilizing AI to accelerate and enhance modernization, incorporating intelligent code analysis, automated modification, AI-powered testing, and performance optimization.
2. Microservices
Microservices transform the way we develop apps. Instead of having a single large piece of code, it can be divided into smaller portions that can be modified separately. The transition to microservices architecture and API-centric programming enables better flexibility, scalability, and agility. It encourages flexible development, making it easier to update and maintain individual components of an application without impacting the overall system.
3. Low-Code/No-Code Revolution
The growth of low-code and no-code platforms has eased the application-building process by allowing non-developers to construct apps with little coding. There are several platforms that allow non-developers to create applications with minimal coding work. These platforms let app developers employ visual interfaces and pre-built components to speed application delivery, cut development costs, and enable organizations to adapt quickly to changing market needs.
4. DevOps For Security
DevOps approaches, such as CI/CD pipelines, are increasingly used to modernize applications. DevOps and automation decrease human interference and reduce human mistakes, increasing operational efficiency and lower costs. The correct DevOps consultancy, tools, teams, and skills enable firms to modernize outdated code in accordance with business goals and requirements. By including security principles throughout the DevOps journey, companies ensure that the highest level of security stays at the core of their updated apps, protecting against security risks.
5. Cloud Native Paradigm
Organizations are rapidly embracing cloud-native architectures, which use cloud services and platforms. This trend is anticipated to continue through 2024. Businesses may gain unmatched scalability, flexibility, and resilience by combining cloud services, containers, and management platforms, allowing for seamless app modernization in a cloud-native environment.
6. Blockchain Integration
Blockchain integration will be a major trend in 2024 for safe and transparent data management. This decentralized method eliminates delays, mistakes, and fraud while increasing accountability and transparency. Businesses may improve security and transparency by integrating blockchain technology into their data exchanges. It is frequently used in applications requiring digital currencies, supply chain management, and data security. It’s also useful for applications that require tamper-proof records and secure transactions.
7. Enhanced Security Systems
This trend is becoming increasingly important as regulatory environments get more complex, mandating an intricate approach to compliance. Organizations may protect their apps from illegal access, data breaches, and cyber threats by implementing effective security policies. Multi-factor authentication, encryption, continuous monitoring, and other security features improve the security of updated systems. This approach enables firms to quickly protect sensitive data, foster user confidence, and assure compliance with data protection rules.
Don’t allow legacy systems to sloth your business growth. Plan your App Modernization success journey with us!
Application Modernization with Fingent
Application modernization is a foundational part of a digital transformation effort. But, it can be a daunting task. With the right technology partner, you can tackle it with confidence. Fingent can assemble a project team to deliver the cost-effective approach you need for your modernization effort, from project planning to production rollout. Let’s talk about it.
Organizations are enhancing their competitiveness by prioritizing digital transformation as the global marketplace becomes increasingly crowded and interconnected.
Broadly speaking, the concept of digital transformation involves the systematic evolution of core and auxiliary business processes to take advantage of advances in computing and software systems to increase efficiencies.
However, no digital transformation initiative will be effective unless it involves an app modernization component.
Also referred to as “application modernization,” app modernization enables organizations to transform effectively, increase their competitiveness, and differentiate themselves within their respective industries.
What Is App Modernization?
A “legacy” system uses outdated software or computing hardware to deliver important organizational capabilities but cannot interact with other systems or be updated effectively. App modernization is the process of addressing known issues in outdated legacy software. The issues may include:
- Software problems (“bugs”) that cannot be resolved fast enough,
- Missing features will take too long to add,
- Fragile code (changes tend to create new problems),
- Technology obsolescence (e.g., few programmers for the source code language used),
- A software vendor is out of business, etc.
Commercial off-the-shelf software (COTS) may not provide source code access, preventing an organization from addressing software issues. When pursuing app modernization for software for which source code is available, your organization can choose between one of three approaches:
- Revitalizing an application old applications
- Replacing an application technology with custom-built solutions
- Rehosting or re-platforming
Organizations that choose to revitalize old applications will be updating existing software with new capabilities and features. This may also include refactoring (editing the software to do the same things better).
Read more: Why choose custom software over commercial off-the-shelf solutions?
Other companies may elect to get rid of aging technology to replace it with new, custom-built solutions or with a COTS solution.
In some instances, though, to achieve performance improvements, you may just need to move your existing application onto a more powerful computing engine, typically today on a modern, cloud-based infrastructure — a process known as rehosting or re-platforming.
How do you know which is the best app modernization option for your needs?
Particularly old or antiquated legacy technology will need to be replaced, whereas newer solutions might be suitable for repurposing or retrofitting. Rehosting is the most pragmatic approach if an application still meets your business’s needs but is negatively impacted by your current infrastructure.
When updating existing software, your app modernization team will need to rewrite code to add new features to your solutions. While this can be a tedious and time-consuming process, it may be more efficient than rebuilding a new solution from the ground up.
Opting for the more labor-intensive choice of modernizing by replacing legacy systems may provide more substantial long-term benefits altogether, especially if the landscape of your industry has changed significantly since you installed your current technology suite. Proper planning will control how the migration to a new system occurs and to what extent a legacy system needs to be operational during the transition.
In order to determine which approach is most appropriate for your business, you should first consider whether your current application effectively meets your company’s needs. If it doesn’t, you will need to either repurpose or replace your technology, but if it does, a simple rehosting might be the most practical option.
Why You Need It, Especially Today
Application modernization is a core component of digital transformation. If your company’s current applications do not effectively meet its needs or promote efficiency, you will never be able to meet your digital transformation goals. In a 2019 IBM-Forrester survey, 40% of developers reported being more productive when on the cloud in a digital transformation.
Instead, you will always be working from a disadvantage, which could allow your competitors to encroach on your market share within your respective industry.
App modernization will not only enable you to fulfill your digital transformation goals, but it will also empower your business to operate more efficiently, enhancing the customer experience, paving the way for future growth, and boosting revenue.
What to Consider Before App Modernization
You cannot approach app modernization haphazardly, or you could experience significant and potentially prolonged disruptions to your company’s operations.
Remember, app modernization efforts will impact the functionality and performance of your company’s core software solutions, such as your customer relationship management platform and accounting software, so with that in mind, you must gauge the costs of an app modernization initiative.
Identify what goals you want to achieve, plan how long it will take to achieve those objectives, and seek the support of a third-party technology firm that will be able to provide an objective perspective and help you determine which approach to pursue when you start your journey toward app modernization.
Read more: The secrets to a successful app modernization journey.
Knowing Your Options in App Modernization
To decide which of these approaches is most suitable for your business, you must take an objective look at the state of your technology stack. Is the version of all elements of the stack up-to-date? Are frameworks and languages still “main stream?” If your current solutions impede business growth, it is likely time to replace them or, at minimum, rewrite them.
Rehosting can be incorporated into your app modernization strategies in two ways. If you have an application that meets your needs, you can simply migrate the app from a native architecture to a cloud-based one. Additionally, you can incorporate rehosting into your rip-and-replace or rewrite app modernization process, as transitioning to the cloud will improve the performance of any application.
Steps to Kickstart Your App Modernization Journey
The entire process can feel daunting and overwhelming when you are at the precipice of your app modernization journey. Still, you can jump-start your digital transformation and app modernization efforts through the following techniques:
1. Finding Your Why
First off, outline why you want to modernize your applications. Defining your “why” will help you and your team stay focused once your modernization journey is underway.
2. Assess Your Talent
Take an objective look at your in-house team and its capabilities. Are they going to be able to oversee your app modernization effectively? If not, it might be time to bring in some outside resources.
3. Decide Whether You Want to Move to the Cloud
Suppose you have invested heavily in on-premises resources in the past; in that case, it might be tough to move on from these assets and transition to the cloud. But making the switch will benefit your business both now and in the long run, so you should at least consider the notion.
4. Assess Risk and Act
Finally, you need to assess the risks associated with each app modernization option. Outline the benefits of rewriting your current applications, replacing them altogether, and migrating to the cloud. Once you have calculated the costs of app modernization, choose the option that best aligns with your needs and take action.
How Fingent Can Help in Successful App Modernization
Leveraging app modernization to enhance the efficacy of your digital transformation effort is a huge undertaking. Fortunately, you don’t have to navigate this process alone, as you can partner with a talented software development team like that of Fingent.
Fingent’s team of experts can help you apply the latest technologies to your business, including cloud-native solutions, artificial intelligence tools, and machine learning software.
Contact us today to learn more about how we can assist with your app modernization efforts.
Is custom software poised to fulfill business needs?
From small firms to established companies, the COVID-19 pandemic has forced businesses and leaders to embrace digital transformation. Businesses are spending more on custom software solutions to ensure smooth workflow as they switch their operations to virtual workspaces. Custom software development and mobile application development have become inevitable for business growth and success. As technology advances, intelligent interfaces and highly intuitive cognitive capabilities transform businesses in unimaginable ways.
Custom software solutions appeal to tech leaders and companies of all sectors globally. In today’s dipping economy, software development companies like Fingent help businesses restart or rebuild what they lagged with custom software solutions.
Read more: 5 reasons why custom software development is important to your business
What is a custom software solution?
A custom software solution is the best response for both clients and customers to adapt to the new normal. Currently, many organizations are allowing their employees to work from home, thereby limiting physical interactions. Such organizations adopt customized software applications tailored for specific use by their employees. Remote working software tailored to meet specific workplace requirements and maintain privacy without affecting the workflow allows businesses to better serve their customers.
Simply put, custom software development involves designing, developing, implementing, and managing a particular software application used by a specific set of audience, functions, or organizations.
A software development company first analyzes the business and its product requirements to develop customized scalable, dynamic, and cost-effective software solutions. It helps meet the needs and preferences of the customers, clients, and the organization at large.
The new normal is making it difficult for businesses to obtain a competitive edge, so they resort to custom software applications rather than off-the-shelf software development. Thanks to these tailor-made solutions, work is becoming easier and enabling businesses to take a step ahead.
What is the difference between custom software and commercial software?
Custom software solutions are designed and built to adapt to the changing market demands. Off-the-shelf software allows businesses to adjust to their expertise. Commercial off-the-shelf applications come pre-packaged and are purchased by enterprises to carry out their tasks. Custom software enables you to retain only the features you use and supports scalability in the future.
View infographic: What are the advantages of custom software over commercial off-the-shelf solutions?
Why do businesses need custom software development services?
Custom software solutions are one of the best ways for businesses to survive in today’s uncertain market. Moreover, custom software development assures that your data remains secure and confidential as there is a high amount of data security risk with off-the-shelf software. Custom software is the best option today, considering your business’s privacy, security, and accountability. As custom software is made exclusively for in-house use, the associated risks are low.
What are the benefits of custom software solutions?
1. Improves efficiency
Custom software is designed to support the specific processes followed by a business entity and its users. Hence it improves the productivity and operational efficiency of the business and its employees. By automating mundane tasks and tweaking the workflow to eliminate unwanted elements, custom software implementation adds business value.
2. Reduces integration costs
Most of the commercial off-the-shelf software fails to work with existing and legacy applications. If it does not comply, businesses will have to invest further to ensure that the prepackaged software operates with the existing infrastructure. On the other hand, custom software integrates well with the current environment and adapts to a business’s needs.
3. Scalability
Custom software can grow as the business expands or changes. Developers can assess future requirements and incorporate them into the application. It can save costs associated with purchasing additional licenses or subscriptions of commercial applications.
4. Profitability
Investing in custom software development increases the profitability of a business. Depending on the project’s terms and conditions, the organization that creates custom software can own it or license it or sell it to other organizations.
5. Independence
As you will be free of a commercial software vendor, you need not worry about price hikes for licensing and support or whether the vendor terminates a product or goes out of business. However, the business that develops and uses custom software should bear the cost of maintaining and supporting the software. So, every organization must carefully decide whether it’s better to buy or build.
Read more: How to Choose the Right Custom Software Development Firm
Technologies and practices to consider in custom software development
1. Open-source
Open-source indicates that the software source code is open to the public and the development community to use. For example, Microsoft, Linux, and Google. Open source can significantly improve development productivity through software component reuse and improve interoperability by avoiding proprietary architecture.
2. Artificial Intelligence (AI)
Artificial Intelligence allows the software to replicate human decision making and learning. It can enhance the development process. For example, natural language processing (NLP) is used to analyze requirements from elaborate texts and recommends improvements based on best practices. AI technologies such as machine learning and modeling may also be incorporated into applications through application programming interfaces (API) and cloud services.
3. Blockchain technology
Developers are leveraging open- source hyper ledger technology and blockchain ledgers to build new types of secure transactional and financial applications that can boost business processes.
4. Cloud-based development
It brings the advantages of cloud computing by hosting development environments in the cloud. It supports design, coding, integration, and other development functions to build on-premises and cloud-native applications. These environments also promise cost control, speed, and on-demand convenience.
5. Mobile application technology
With the customers’ buying behavior shifting from products and services to experiences, mobile application technology is a must. So, developers have to connect mobile apps with data to improve and enrich the user experience.
6. Analytics technologies
These technologies enable software applications and their users to understand data through dashboards, visualizations, and predictive capabilities. AI, cloud-based services, and automation make it easier to incorporate analytics into applications.
The health crises and economic uncertainties brought in by the COVID-19 pandemic have compelled businesses to adopt solutions tailored for use by their employees and customers. So, opting for custom software solutions is a wise decision as they can be customized to suit your business needs.
Read more: 5 Custom software development trends every business should know
While the initial investments seem a bit high, custom apps will get you a higher ROI in the future. If you are looking for a custom software solution for your business, all you need to do is select a trusted and reputed company like Fingent. We first understand your requirements and help preserve your accountability in the market. To know more, please don’t hesitate to get in touch.
The steadfast march of organizations worldwide has been in one direction, a direction that has been adorned with trails of digital that promises a better tomorrow. A digital strategy that builds on the existing business, backed by a solid vision can set your jump to soar heights that would have otherwise been difficult. For businesses, embracing digital needs to be a culmination of different steps in different areas. Not every strategy works the same for all organisations as the fundamental component that makes these companies are different from each other.
Tailor IT! Or ill fit IT!
With the proper understanding of the internal and external factors of your business, there can be solid decisions taken on the best fit strategy for your requirements and constraints. The proper fit extends to the software that you use and the tools you employ to get your work done as well.
Agreed! there are areas in which a one-size-fits-all can do the job, let’s take the example of a POS software, most of these does the same job, it scans, records details of the sale and sends it to a database for storing and that’s it! Pretty straightforward, no-frills, generic software that does what it should do with great effectiveness. In the past, POS software’s might have been revolutionizing but now it’s a norm that is expected. The core components of your business would be different from another, so there needs to be an inherent customization in the App, for making it truly serve the purpose that it was built for.
General Application are not passe at all, but from the capabilities perspective, when it’s more about finding the right-fit app for the business logic, then they give away. General Apps are even fantastic when you take into consideration the wide array of features that they offer, most business users can find what they need, hidden somewhere deep amidst the many features that the product has. So, it is not short stacked nor is it less capable than its customized versions but when it comes to specifics, getting your app built from the grounds up based on clear requirements can keep things tidy, serving the business need.
Going Custom Fit in Field Service
In reality these days, the choice of a bespoke application or a custom software gets based wrongly on the money one has to spend to acquire them, But often, this strategy of immediate gratification can backfire. When your business has been supported by a certain logic, which has set you apart from the competition it becomes highly necessary that the app extends this logic to push the odds in your favor. On the other hand, if there are no specific requirements that your organization needs it is always a big “YES” to the generic application which has lower cost and quick deployment.
For field service requirements, it is imperative that the application can cover issues like ticketing, order management, SLA compliance tracking, route planning, dispatching, contract management, partner management etc., the generic applications does a great job in covering most of the requirements that a field service industry would face, but when it comes to a particular cost saving best practice or with regards to having a proprietary advantage in the app that you use, the fit of the app becomes the criteria.
The custom-built apps have improved security. Building the app with different use case scenarios in mind,the places and times in which it would be used, makes it possible to plug the security loopholes with more precision. Generic apps can never account for all the strategical security of a custom-made software but then again, if your business process does not handle anything too radical, chances are that great generic app would help you hit the nail on the head.
A custom App can go a long way in dovetailing the existing business model to the app being developed. It can align perfectly with the business model in place, making it one of the top priorities when thinking about a custom or a generic app. With low-code development options, the custom-built apps can take the best of the worlds and incorporate it into the custom app, effectively improving the go to market time. With custom apps built leveraging such new opportunities in technology, in-house developers can concentrate on the key business logic that lies at the heart of the organisation.
With the field service, the array of functions, right from inventory management, reporting, communication of the on field executives, processes and sales management, can be made possible, with great insights into each activity with good analytical capabilities. Mobile phones and tablets arm the on field executives with cameras, Wi-Fi, GPS functionality, scanners, etc. These can provide an amazing input of data that can be mined to get insights into each process, further helping to streamline the custom apps to make it more responsive to the market conditions. Mobility is a key functionality of field service apps, good field service apps can integrate the mobile strategy seamlessly into your existing structure.
Developing a great custom software would involve proper understanding of your business needs and translating them into features for your developed application. Proper thought must be put in, to gather the requirement in a way that can capture the crux of your business strategy into a digital blueprint within the application. It is vital that this be properly executed as building custom applications are a long and expensive affair that requires the right development effort. Most generic products offer their product to potential buyers to test them free of cost, this can help your company to understand the product and the way it interacts with your organization. This can help you to take decisions on the applicability of the generic app for their use.
Custom apps can be like a tailor-made suit for your business, perfectly fitting your unique needs and requirements. They can streamline your operations, increase efficiency, and boost productivity. To ensure the development of a high-quality custom app, it’s important to choose a reliable software development company with a proven track record of success.