Technology Modernization: More than just that
Legacy systems pose significant challenges to business, hindering agility, innovation, and competitiveness in the digital landscape. A 2022 survey found the commonness of these outdated systems, with 88% of technology assets classified as legacy, half of which are business critical. Despite this alarming statistic, there is optimism as 70-90% of these systems are due for modernization within 5 years to thrive in the digital era.
Emphasizing the crucial role of technology modernization, it is clear that the future success of organizations hinges on their ability to embrace digital transformation. In this recently published article on VMBlog, Naresh Duddu, Associate Vice President and Global Head of Modernization, Infosys, discussed the value derived from modernization and how it manifests in several ways throughout the organization.
This article further explored the value derived from modernization such as rich customer experience and improved brand perception, lower technical debt and capital costs, smarter, faster, and better operations, gains in productivity, efficiency and revenue, and greater sustainability.
