The term ‘modernization’ is one of those buzzwords that gain a lot of currency at a particular moment. Clearly the idea is not new. We’ve always had to maintain and upgrade our systems to keep them ‘up-to-date’. In the 1980’s software conversion or migration was a popular solution. In the 1990’s, it was often termed ‘re-engineering’. What more do we mean by the term modernization?
A few things stand out:
- The internet for global access was a revolution that has made it possible to reach customers, employees and business partners directly and at low cost. The resulting boon in self-service applications, access anywhere and shared services has eliminated huge business processing costs.
- New technologies – mobile devices and Big Data are examples – make it possible to offer new products and services and to manage your business more effectively.
- New paradigms for client and employee engagement – like social media, collaboration and app store distribution – are expected for improved communication, ease of contribution and democratized participation.
- Cloud deployment can transform operating costs and bring new levels of speed, flexibility and responsiveness to IT service provision.
Automated support for your core back and front office business processes alone is no longer sufficient. Cutting edge software and platforms are ‘must haves’ for meeting and outstripping the competition. Today’s modernization is not only a software imperative but also a business one.
The industry knows this but there’s a twist. Although discussions of modernization often center on a world of technically dazzling possibilities, the reality for many organizations is much less exciting.