Digital transformation is all about leveraging technology in new ways to improve customer experience, empower data-driven decision making, and increase corporate agility through business-IT integration. According to IDC, by the end of 2017, 67% of Global 2000 enterprises will have digital transformation at the center of their business strategy. Yet a surprising number of leading companies are letting a common enemy stand in their way— aging legacy systems.
If your organization is still clinging to a legacy system, here are three reasons you should consider moving onward and upward— to an online database platform:
The nature of legacy ERP systems requires companies to have a multiple-tiered system of cobbled-together architectures to meet various departmental needs. This patchwork approach results in silos of business information and inhibits the ability to share data across departments.
The rigid, hard-coded nature of legacy systems makes the task of bringing all this siloed data together challenging. Teams often have to spend valuable time updating and reconfiguring data in a way that is accessible to all stakeholders. As a result, your leaders may struggle to obtain the real-time business intelligence needed to guide decision-making.
Online database platforms enable real-time aggregating, streamlining, monitoring, and transferring of data throughout business units— which results in more agility and better decisions. Role-based permission controls allow senior leadership to decide who can view specific data sets and who can input new data.
As a leader, it’s hard to take action when you can’t be sure whether the data you are looking at is correct or not. According to F1F9, a financial modeling training firm, as many as 88 percent of all spreadsheets contain errors.
One reality that leads to data inconsistency in organizations using legacy systems is various departments and team members often find it necessary to create personalized spreadsheets that suit their particular use, resulting in multiple versions of the same data presented with different conventions for naming, measurement, or categorization. When teams want to come together to make decisions, they often find that it’s difficult to consolidate their spreadsheets and ensure data accuracy.
Online database platforms do more than just get rid of error-riddled spreadsheets and decentralized reports— they allow comprehensive data unification and standardization, as well as full audit trails and organization-wide transparency.
Stop using spreadsheets for jobs they were not intended. Check out the free eBook, "Understanding the Hidden Costs of Spreadsheets for Managing Projects" and other tasks better suited for an online database platform.
Most enterprise organizations spend the majority of their IT budget on maintaining their legacy system. The burden of paying operational costs and software licenses can significantly limit an IT team’s ability to equip the organization with the tools and support necessary to pursue digital transformation.
Traditional IT approaches also expose enterprise organizations to several other costs that they can avoid by moving to online database platforms: