The cost of legacy IT

The cost of legacy IT What is legacy IT? The cost of legacy IT is often overlooked, partly because it can be difficult to ascertain and partly because it describes the status quo so it is the default. “In a way, the fact that legacy IT is the source of so much trouble has obscured…

Welcome to a deep-dive into the world of Legacy Systems and the growing importance they hold in an ever-evolving digital landscape.

Legacy systems refer to older enterprise software applications that have been in use for years, or sometimes, even decades. These systems, often deeply integrated with the functional operations of an organisation, hold data and business processes crucial to the success of the company. While they may lack the modern features, speed and flexibility of newer software applications, their long-standing role within an organisation has allowed for a highly customised, deeply understood and often reliable way of conducting business.

However, maintaining these legacy systems can present numerous challenges. The outdated hardware and software can be costly to maintain and often lack the compatibility needed to integrate effectively with newer technologies. This can result in an inefficient IT infrastructure, which in turn could lead to decreased productivity, financial inefficiencies, and security vulnerabilities.

Herein lies the intersection of legacy systems and bespoke software, app or web development. With increasing frequency, companies are turning to tech innovation agencies, like ourselves, to modernize their legacy systems — reengineering them into state-of-the-art bespoke applications without losing the functionality and data that make these systems valuable in the first place.

Silicon Valley continues to influence the trend towards system modernisation, with 60% of businesses worldwide reporting their intention to increase spending on technology innovation in the coming years. CIOs are increasingly prioritising the transformation of legacy systems in their packaged application strategies, with 75% of them stating that their top priority in 2020 was to replace or upgrade outdated systems.

Additionally, in the Financial Services sector, more than half of the world’s banking and financial markets firms are giving priority to the modernisation of legacy applications, demonstrating the universal recognition of the need for system upgrades.

Interestingly, the modernization of legacy systems not only improves business productivity but also significantly contributes to environmental sustainability, with newer energy-efficient technologies reducing business’ carbon footprints.

As you delve further into our Legacy section, we invite you to explore the comprehensive range of blogs and case studies, shedding light on how Sheffield Apps has helped numerous companies transform their legacy systems into modern, efficient and reliable business tools. For any queries, thoughts or discussions, feel free to contact Sheffield Apps. To delve further into this topic and explore others, do browse our main blog area or specifically the Legacy section.

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