Topic: Modernizing the Legacy Platform in light of Digital Transformation
This session is a natural progression from the last sessions on the challenges and benefits of digital transformation. We look forward to everyone’s sharing!
The legacy platform is built to serve a legacy business model
Existing platforms were designed to capture, process and store electronic information, and seldom was it designed to anticipate digital information – or information captured from digital technology. Some of us may have been forced to adapt new technologies and still found ways to integrate these with existing capture, processing and storage technologies. Some of us may have moved on and leapfrogged to a new technology altogether for new requirements/systems of differentiation and innovation, without necessarily letting go of the efficiency and scale of existing platforms for systems of records.
The legacy platform takes up most of our resources, and most especially, our budget
The main challenge in modernizing for digital transformation is really on finding how to justify funding for the necessary technologies to capture, handle and store digital information. It would be interesting to learn how others succeeded or failed in requesting for a budget, how others bit the bullet, how others found ways to cut the budget for existing platforms in order to fund the introduction of new technologies. Budget areas affected are not just on the CapEx side, but also on network, telecom, headcount, training and vendor support. Another sharing point would be how your organizations shortlisted and prioritized which digital technologies and digital information to adopt.
Vendors can make or break the modernization of legacy platforms in light of digital transformation
There will be vendors who would want us to stay on their legacy platforms, holding out until they themselves can modernize their products and services, if at all. There are vendors who have digital products and services but have not yet had actual experience and customers, whether locally and even globally, and would like us to be their guinea pigs. It would be nice to hear you stories – successes or horrors – so that we can learn from your victories as well avoid potential landmines regarding vendors.
We will be discussing:
- How much our enterprises are really willing to spend even if they say they want to digital transform?
- The readiness of our legacy platforms in handling digital information?
- How much of our legacy platforms will need to be completely replaced vs how much can be kept?
- What challenges are faced on the budgeting perspectiveHow to identify vendors who hold you back and which vendors are ready to hold your hand in your digital transformation journey?
Optional preparation material: