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IT Modernization, Digital Transformation, Innovation- Top Three Focus Areas For Business Success!

veritis_group profile image Veritis ・3 min read

The industry is transforming at a rapid pace with technology advancements making their foray now and then.

As an organization, it’s essential to check where you stand in this continuous race and competitive scenario?

The answer to this lies in the way your IT infrastructure is built/emerging and the initiatives you are thriving in.

Many leading global surveys say ‘IT modernization, Digital Transformation and Innovation’ are crucial to winning a competitive edge in the current market.

IT Modernization

The process of IT modernization begins with identifying the existing infrastructure gaps.

These gaps primarily include complexity in hardware and operations, maintenance burden, and scalability of the existing setup.

The only way out is to modernize your legacy infrastructure setup!

But IT modernization requires efficient planning and strategy, along with a clear roadmap part from your IT team.

It’s not just about updating infrastructure, IT modernization efforts involve the introduction of new processes, technologies, and informed decision-making.

More than anything else, the investment required for the new setup might often be misleading or in vain, making budgetary planning another crucial aspect of IT modernization.

As one of the leading surveys say:

• 94 percent of businesses are actively embracing modernization efforts

• Lifesciences, financial, retail, education, healthcare and insurance are among major leaders looking for modernization

• Overall, 32 percent of industries have already done that, while 28 percent are doing and 35 percent are in roll-out stage

• Enterprise Architecture, cloud adoption, business processes, and apps and data center consolidation are the priority areas for implementing modernization

• More than 49 percent of firms look at modernization as a means to gain customer satisfaction

• 95 percent of firms are facing challenges in implementing modernization

Digital Transformation

What’s advanced in the IT modernization process is achieving digital transformation solutions.

Transforming digitally is otherwise changing the way business interacts with teams, processes, and customers.

The same survey shows:

• 92 percent of organizations are transforming

• Finance and Lifesciences are ahead of other verticals in transforming initiatives

• 28 percent finished, 29 percent are almost done, and 35 percent are in early stages of transformation

• Customer experience, productivity, Business Process Automation, service delivery, new product experience, software delivery, and onboarding partners are among priority areas for transformation

• Transformation initiatives lead to customer satisfaction

• Lack of in-house skillset is the top reason for failing transformation

Innovation

Innovation, last but the most important one to gain a competitive edge.Innovation, in the current-day context, is precisely more of being data-driven, agile, and flexible.

The process involves tapping the data potential and making effective utilization of it to gather information, define metrics, implement analytics, reporting, and more.

This only happens with the help of devices, processes, technologies, and emerging customer demands.

According to the survey:

• 93 percent of organizations are already innovating

• Big Data Analytics, AI, Security, IoT and Platform-as-a-Service (PaaS) are key investment areas for driving innovation

• North America leads the way for innovation, globally

• 55 percent of firms report challenges in modernization and innovate faster

• 51 percent confirm that innovation is vital to sustaining the market competition

• 38 percent feel that high-level management lacks the ability to oversee modernization, transformation and innovation initiatives

• Innovation has to happen from top to bottom in an organization, beginning at the CEO level, followed by CIOs, department heads, junior management and workforce

Wait no more! To modernize your IT, start driving transformation initiatives and gear up on innovation to see the desired results!

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Discussion (1)

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ebi15 profile image
Ebu

business transformation using digital technologies is a long haul, executing the program without any plan can be detrimental to business, as this involves people along with model and culture. And, partnering with reliable digital transformation is highly recommended for success.

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