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Market Guide for Digital Technology and Business Consulting Services
Celebrating A Decade Of Innovation
Why thinkbridge is a great place to work?
8 min read

How Platform Modernization Affects Businesses

Tech/Technology/Business/AI/ML/Artificial Intelligence/Machine Learning/Modernization/Platform Modernization/ROI/Scalability/Security/DevOps/DevSecOps/Cloud/Cloud Computing/Cloud Architecture/Cloud Infrastructure
Technology and business are inextricably intertwined, so why do businesses rely on outdated platforms? Modernization is the key to scalability and provides a host of benefits. Here's how.
Written by
Jonathan Mitchell
Published on
April 12, 2024

The phrase "If it ain't broke, don't fix it" has become the hallmark of complacency. Innovation and advancement enable tech businesses to stay ahead of the curve. It’s obvious that technology and business are inherently intertwined. So, why do organizations stick with platforms lacking modern features?

Businesses exist in a fast-paced digital age. They must be innovative and adaptable to stay competitive. One of the most effective ways to achieve this is through platform modernization. Businesses can streamline processes, improve efficiency, and enhance the customer experience. Why not embrace new technology that can send your business into overdrive? Modernization is the solution here. Sitting back and relying on what has worked in the past is a foolproof way to fall behind.

Increased Agility

Organizations must be able to adapt to our ever-changing tech landscape. Outdated platforms make that burden harder to bear. Legacy systems can be cumbersome and difficult to maintain. The drawback of focusing all your energy on making the most of an inefficient system? There is little time for innovation. Lack of advancement can hinder a business's ability to respond to changing market conditions. By modernizing platforms, companies can become more agile. Increased agility allows them to pivot quickly and respond to new opportunities. Modernization enables businesses to leverage new technologies such as cloud computing and DevOps. Used well, they can speed up development cycles, reduce costs, and improve collaboration.

Cloud computing has become a popular choice for modernizing businesses. It increases scalability and flexibility, reduces infrastructure costs, and improves security. Organizations are moving to the cloud with increasing frequency. This transfer reduces the burden of managing their infrastructure. Now businesses can focus on what's important. Their core competencies.

Having cloud-native architecture offers all kinds of possibilities. You can align your capabilities with your organization's business needs. Organizations can disassemble irrelevant features and bloated aspects of the previous system. You'll be free of the detritus holding you back. No longer will your technical capacity limit your ability to scale and seek new ventures.

Improved Security

If a bad actor only needs to pick a lock to access your house, then there isn't much to dissuade such an action. A simple mechanical rotation would endanger your valuables. However, if there's a lock AND a comprehensive security system, they might second guess attempting entry. This analogy is exactly what cybercriminals see when evaluating your platform. A legacy platform lacking modern attributes represents the first scenario. A modern platform brimming with advanced security measures represents the second scenario. Pretty obvious which situation would most benefit an organization, right?

Security is a top concern for businesses. Particularly organizations in industries such as healthcare and finance. This is where issues arise with outdated platforms. Legacy systems can be vulnerable to security breaches, putting sensitive data at risk. We've all seen the headlines when data leaks occur. The adage that all publicity is good publicity? Yeah, that doesn't apply here. Using modern platforms can improve security by implementing the latest security protocols and technologies. This can help safeguard against threats such as cyberattacks and data breaches. It's integral to protect sensitive data and ensure compliance with industry regulations.

A significant benefit of modern platforms is the application of advanced security measures. Businesses can implement multi-factor authentication, data encryption, and intrusion detection systems. Each facet works to protect platforms from cyber threats. It's all about creating layers of defense. You not only prevent attacks but dissuade them in the first place. Modernization holds the key to the security of an organization's platform. Transition to a modern solution so that safeguarding integral data becomes simple.

Enhanced Customer Experience

There's some complexity here. Customers expect seamless, personalized experiences from the businesses they interact with. Legacy systems can struggle to provide this level of experience. By modernizing platforms, businesses can provide customers with the experiences they expect. What would this include? Things like real-time updates, personalized recommendations, and seamless transactions. If you aren't meeting the expectations of your most important stakeholders, well, you won't be in business for very long.

Modern platforms enable the usage of contemporary technology. Things like artificial intelligence (AI), machine learning (ML), and other innovations are accessible. Businesses can then create personalized customer experiences. For example, companies can use AI to analyze customer data.  That data is then utilized to provide customized product recommendations. Another useful tool comes in the form of AI chatbots. If the name ChatGPT sounds familiar, that’s because it’s a modernized form of a chatbot that has recently taken the internet by storm. Already companies around the world use these AI assistants to provide real-time customer support. These tools can integrate with modern platforms. Over time, these attributes can help improve customer satisfaction and loyalty. Then it comes down to a simple question. What impact does this have? Increased revenue and long-term growth. The ROI here is significant and once again highlights the importance of modernization. Integrating new tools becomes even easier, and leads to better experiences for the entire spectrum of users.

Platform Modernization Is The Present And Future

Here's the reality. Digital advancement increases an organization's ability to impact its bottom line positively. Carving out a niche is difficult. Building credibility takes time. Creating differentiation requires innovation. That’s why modernization is critical for businesses that want to stay competitive. Modern platforms have improved security capabilities and enhance customer experiences. While modernization can be a complex process, the benefits are significant. A modern platform might provide the necessary edge for your business to scale to new heights.

To learn more about how we approach platform and application modernization, click here.

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