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A successful technology modernization process for businesses

A successful technology modernization process for businesses

  • June 02, 2021
  • min read

Tech X Media

A successful technology modernization process for businesses

Until recently, many companies saw technology modernization as a necessary evil, something to postpone as long as possible to avoid the disruption sure to accompany it. Today, more of them recognize that disruption is part of the attraction. Modernizing systems can and should serve as an opportunity for companies to reevaluate timeworn and inefficient processes and update them. One way that companies modernize their systems is by updating their enterprise resource planning (ERP) and other integrated management systems. Increasingly, these systems can help companies by providing ways to create more value by delivering improved processes.

First, these systems help companies develop an end-to-end view of their business processes, not only by facilitating seamless connections, but also by tapping the expertise of industry partners to provide guidance on best practice for each particular industry and segment. Second, customers shift from a capex model of purchasing large systems to subscription models, even systems that are not delivered, as Software as a Service (SaaS) can increasingly be purchased with similar financing models. Finally, building on both of these points, upgrading systems can provide a platform for investing in more next-generation services, such as analytics and AI, which can help grow the business.

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