How do your top reasons stack up? Nine strategic reasons to put modernization at the top of your list:
Reason #1 – Improve total experience
Customer experience and employee experience are inextricably linked – there is no one without the other. Modernizing legacy technology helps improve total experience, boosting employee and customer satisfaction, loyalty and retention. Organizations that embrace total experience will be at an advantage to their peers. Customer-centric companies are 60% more profitable than companies that are not.1
Reason #2 – Flexible and scalable deployment options
Migrating at least some content to the cloud is vital to stay competitive and resilient. It’s a big decision – but it doesn’t have to be all or nothing! Consider a hybrid approach and take an as-needed stance to moving content to the cloud. Companies gain the agility and flexibility of cloud while migrating at their own pace, maintaining some off-cloud investments. With the ability to move to the cloud of your choice, you can accelerate digital transformation and free up IT resources for creativity and innovation.
Reason #3 – Increase security and achieve compliance
Legacy technology may be out of support and difficult to secure. Newer technology supports modern security standards to help protect your customer information and your business. Bring systems and processes into compliance with modern solutions.
Reason #4 – Eliminate data silos by integrating with existing applications
“Without data, you’re just another person with an opinion.” Edward Deming was right. It’s difficult to design personalized customer journeys without a holistic view of the customer. A unified Customer Data Platform (CDP) ensures data flows seamlessly across the enterprise. The CDP manages customer data across every experience in real time while supporting data protection and governance to maintain trust. A holistic view of the customer paints a richer picture and enables teams to truly personalize a journey based on intent signals. Tapping into AI/ML, employees can create segments and offer up next best action, next best channel and next best offer to ensure customers continue their journey.
Reason #5 – Boost productivity
It can be difficult to attract employees while your company is using outdated and frustrating technology. Upgrading to modern solutions helps improve UX and boost productivity among employees, who in turn pass better experiences along to customers.
Reason #6 – Stand out in the experience economy with hyper-personalization
With legacy technology, offers are built for everyone. Frustrated customers end up feeling like a number. A CDP combined with modern digital experience management solutions allows organizations to serve up hyper personalized offers based on smart insights and better optimization. Marketers can design relevant experiences based on unique preferences while continuously improving content via an agile approach. According to McKinsey, 78% per cent of consumers said personalization made them more likely to repurchase. And companies that excel at personalization generate 40% more revenue from those activities than average players.
Reason #7 – Increase ROI by leveraging additional product capabilities
Modernizing your platform puts your organization in an ideal position to leverage additional capabilities. Here are a few products that can be easily integrated into your platform to increase value for your existing investment:
- Artificial Intelligence – OpenText™ Magellan™: Augment data-driven decision making and accelerate business with advanced artificial intelligence in a pre-built machine learning and big data analytics platform.
- Customer Data Platform (CDP) – OpenText™ Experience CDP: Personalize experiences and communications to create customers for life.
- Modern Communications – OpenText™ Exstream™: Leverage the data and content that already exists within the organization to transform typical customer communications into highly-personalized, engaging customer experiences on the preferred digital and print channels, screen sizes and devices of the customer.
- Rich Media Content – OpenText™ Media Management: provides an easy way to incorporate and manage immersive experiences such as videos and interactive applications Quickly and securely access rich media assets from a central location and activate into multiple channels.
- Messaging – OpenText™ Notifications: Reach customers with personalized messages and alerts on their channel of choice.
- Web Experiences – OpenText™ TeamSite: Create relevant, personalized experiences across customer channels with one platform, including landing pages, authenticated portals and headless interactive applications.
Reason # 8 – Accelerate digital transformation
Reduce paper-based processes and continuously innovate with existing digital experiences. Avoid a piece-meal approach of buying stand-alone pieces to the puzzle and later trying to assemble the entire picture. Advance key priorities cross your roadmap and organization. Unlock innovations and try new things with modern technology designed for the mobile-first world. Using an omnichannel platform approach allows companies to achieve timely resolution and better responsiveness. Hybrid, headless and API, component-based design allows for the same elements to be re-used, optimizing channel experience to drive consistency and scalability. And other leaders agree – 81% of IT leaders agree that a best of breed approach makes their organization struggle with IT complexity.2
Reason # 9 – Create a path to success
Modernization is not a destination, and the whole organization needs to have a common understanding and path to continuously innovate. A modernization strategy – often interchangeably known as digital transformation initiatives – provides powerful organizational alignment and an adatapble platform.
Modern experiences are omnichannel, personal and data-driven. There’s no one-size-fits-all modernization strategy: it’s a journey with many pathways to achieve it.
- HubSpot, 2022.
- MuleSoft IT Leaders Pulse Report, 2022.
