Legacy Modernization: The 7 Rs Strategy

Legacy modernization breathes new life into old applications. Threats to security, inefficiencies, and a lack of knowledge and skills are just a few of the issues that arise while maintaining legacy systems. Organizations need to upgrade their business applications and procedures to stay ahead of the competition and help their businesses grow. In fact, the global market for application modernization services is expected to grow at a CAGR of 16.8% to reach a valuation of USD 24.8 billion by 2025 due to the surge in the need for modern infrastructure to enhance business processes, as per a recent report.

Suggested read: Legacy modernization, why is it the right time to opt for?

Modernizing legacy systems helps organizations become more adaptable, effective, and future-ready. Legacy modernization entails a transition to new platforms, infrastructure, architecture, and technologies, and it is an essential aspect for enterprises looking to migrate to the cloud. Here are seven strategies for modernizing legacy systems that enterprises need to be aware of:

Retire 

Retiring involves removing obsolete and unnecessary applications to increase efficiency and performance. Programs with unused features and old components can be removed at a lower cost. This process is cost-effective, rids the organization’s need to start fresh, and makes it easier to optimize its current applications with lower efforts.

Rehost 

Rehosting is a migration tactic that moves applications, software, and data to the cloud with minimum effort. It also ensures faster cloud migration – a crucial objective of many companies eyeing cloud migration. This strategy also termed “lift and shift,” involves redeploying apps to a virtual environment. As the application data is migrated without any changes, the application functions smoothly in the new environment. Rehosting is much faster and allows businesses to make future enhancements with minimal upfront expenses.

Replatform

Re-platforming strategy is similar to rehosting and is often used with DBaaS, SaaS, and IaaS solutions. It refers to transferring old apps almost exactly as-is while changing some aspects to benefit from cloud capabilities. This makes it easy for organizations to maintain the fundamental structure of their applications, which saves the time needed to manage the database.

Re-architect

The re-architecting step enables organizations to fundamentally redesign how applications are designed and built with the help of cloud-native capabilities. Application re-architecting is driven by important business needs that demand scalability and improved efficiency. This strategy has a greater transformation cost, but it enables the optimal utilization of the cloud, resulting in cloud-native benefits and making the application future-proof.

Retain

This strategy comprises identifying and retaining apps that need a lot of work but are crucial to an organization’s operations. Only business-critical applications are retained and migrated due to latency requirements or regulatory difficulties.

Relocate

The relocation approach assists organizations in moving their infrastructure to the cloud without the need for new hardware, adjustments to present workflows, or rewriting of apps. Without purchasing new hardware or altering the present procedures, this strategy entails utilizing the current system and shifting the infrastructure to the cloud. The relocation method is usually used when organizations relocate their infrastructure to the Cloud.

Repurchase

Repurchasing is the strategy by which an existing application is entirely replaced with a SaaS solution that provides the same or comparable functionalities. To replace their current on-premise systems, organizations usually acquire cloud-based software licenses. On-premise systems have certain SaaS substitutes, which offer a rapid, simple, or even automatic data migration option. This approach might not work for custom-built applications.

Suggested read: Preparing your organization for Legacy Modernization

All in all, legacy software modernization can be a complex and time-consuming procedure. Organizations can make a smooth transition to the cloud with the help of a good strategy and teaming up with an experienced and right service provider. Vatsa’s team of experts has helped many client organizations simplify their workflows, processes, and interfaces, enabling them to prosper with the latest technology. For a seamless and successful legacy software modernization, write to us today at contact@vsplc.com.

Six Ways Data Analytics is Transforming the Global Telecom Industry

Data Analytics has taken the world by storm. Every industry across the globe is leveraging its data to make the most of it and unlock new opportunities for growth. The telecom industry is no exception. With the rollout of 5G networks combined with edge computing, the telecom industry has been making headlines.

Many telecom players today use data analytics to optimize their network utilization and services, thereby enhancing their customer experience and security and increasing their revenue. Earlier this year, Oracle and Vodafone, formed a strategic alliance in Europe to support and extend the operator’s OSS(Operations Support Systems) and BSS (Business Support Systems) services, such as CRM and Order Management, on a dedicated cloud platform. Moreover, global data analytics in the telecom market is expected to register a rapid revenue CAGR of 32.75% between 2022 and 2027, according to a recent report by Mordor Intelligence.

Here’s a closer look at some of the top data analytics applications in the telecom industry today:

Network Management and Optimization 

The telecom industry has begun to implement data analytics in order to efficiently monitor and manage networks and plan network growth strategies. Telecom service providers employ real-time data analytics to identify severely congested areas where network traffic is nearing capacity thresholds and to prioritize the rollout of extra capacity. Using real-time data, they may also develop ways for forecasting and preparing for additional capacity in the event of outages.

Suggested read: Enhancing Network Bandwidth with Big Data

Price optimization

The telecom sector is very competitive, and as a result, telecom service providers must determine appropriate prices for their products and services. Using data analytics, telecom operators can get reliable data insights and develop optimal pricing plans based on customers’ responses to various pricing methods, purchasing history, and competitor pricing.

Predictive Analytics

Data analytics supports telecom companies in better understanding their customers’ preferences and demands by appropriately analyzing hundreds of data points and network usage trends. This enables them to address consumer concerns and offer discounts or incentives to retain consumers.

Customer Segmentation

Data analytics enables telecom service providers to classify their consumers according to their behavior, preferences, purchase history, feedback, and more. Customer segmentation enables network providers to offer customized products and services to the right customers at the right time.

Suggested read: Big Data: The Key to Efficient Decision Making

Product Development and Innovation 

Using data analytics, telecom service providers can create new products and services that are personalized to their consumers’ demands. Real-time data gathered from multiple sources can be used to enhance existing products or create new ones.

Preventing Fraud

The global telecom industry loses billions of dollars annually due to frauds involving illegal access, fraudulent profiles, and abuse of credit/debit card information, among others. As a result, telecom service providers deploy various data analytics and machine learning algorithms to detect and prevent fraudulent user behavior. Using data analysis techniques, these systems discover anomalies, report them to analysts as alerts, and enable real-time response to suspicious activities.

There are various advantages to using data analytics in the telecom industry. By offering clear insights into organizational statistics, implementing data analytics can improve overall competency and contribute to enhanced consumer experiences. Data analytics solutions facilitate the transformation of unstructured data into useful insights, enabling data-driven decision-making and enabling the business to maintain a competitive advantage. To learn more about how we can assist you with using data analytics capabilities, contact our experts at contact@vsplc.com

The Importance of ServiceNow’s Enterprise Service Management in the Hybrid Era

The global pandemic has forced organizations worldwide to adopt a hybrid working model. Even when the workforce was working from the office, enterprise service delivery was a challenge for many organizations since it inevitably involved multiple functions of the organization. In the hybrid working model, this challenge has grown multifold.

When it comes to enterprise service delivery, efficiency, collaboration, and communication are critical factors; but all of this can be achieved with digital transformation initiatives and workflow automation. This is where ServiceNow’s Enterprise Service Management (ESM) is being aggressively adopted by several organizations since it has the ability to connect end-to-end process flows. In fact, ServiceNow has been named a Leader in the Forrester Wave™: Enterprise Service Management (ESM), Q4 2021. 

Organizations are reaping numerous benefits from ServiceNow’s ESM, including increased efficiency, the ability to connect functions, the ability to provide a unified view, and the provision for continuous service level improvement. The following are some of the most significant advantages of ServiceNow’s ESM for enterprises to create, streamline, and support all of their business processes:

Modernizing Service Delivery 

One of the most significant challenges in service delivery is the involvement of multiple functions across the organization. Modernizing service delivery enables organizations to deliver services in a way that unifies functions and eliminates silos. Using low-code tools, organizations are able to improve their systems and workflows continuously. Most importantly, this allows for more transparent service delivery. 

Integration Capabilities 

The ability to seamlessly integrate with third-party applications is a significant benefit of ServiceNow’s ESM. As an organization grows, the functionalities and features of ESM can be added quickly. It is a great way for organizations to get the maximum benefits out of their IT investments.

Suggested Read: Supercharge Your Operational Efficiency with ServiceNow

Enhancing Employee Satisfaction

When dealing with organizational support functions, the last thing employees want is to go from pillar to post in search of services within the organization. Today’s workforce expects personalized, well-informed, and seamless experiences. 

ServiceNow ESM provides employees with connected experiences and all necessary information at their fingertips. A positive employee experience translates into a satisfied, engaged, and loyal workforce. In the new hybrid world, modernizing employee experience ensures easy navigation across information sources and reliable support for a geographically dispersed workforce. 

Empowering Employees 

Faster application development and automation through the use of low code technologies enable employees to meet rising customer demands while increasing productivity. This also leads to them gaining visibility and control over day-to-day operations. Using low code makes it possible for organizations to continue to expand functionalities by leveraging business users for development. This eliminates the need for skilled developers, which are generally in short supply, and makes it possible to scale services quickly, significantly improving their reach. 

Here’s how we helped a Europe-based manufacturing company create a unified service portal using ServiceNow’s Employee Centre Pro module for an enhanced employee experience.

It is clear that the deployment of ServiceNow ESM is bringing transformational benefits to organizations including reduced costs, better transparency, improved employee service delivery, and a satisfied workforce. In these times when the pandemic and the Great Resignation wave are reigning over the world, it is crucial for organizations to remain competitive, offer a positive employee experience, and attract a talented workforce. 

To know more about how we can help you enhance your business outcomes with the help of the ServiceNow platform, reach out to our experts at contact@vsplc.com.

Which is Better Suited For Your Organization – Data Mesh or Data Lake?

How do you manage growing enterprise data volumes while maintaining data quality, consistency, and governance for large-scale analytics? Most organizations seeking solutions wish to evaluate data without passing it through complex ETL processes. Data and analytics have become buzzwords throughout the last decade and beyond. At a high level, it consists of two distinct processes: data storage management, and data analysis. The ever-increasing volume of commercial data has compelled organizations to investigate alternative methods for storing data effectively, safely, and efficiently. Organizations won’t be able to use analytics to gain business insights unless they’ve completed this step. The key is how fast the stored data can be extracted, transformed, and loaded (ETL) for analytics, and we can accelerate the ETL process. This is where the different approaches to data storage become prevalent. 

Here’s a closer look at the journey of enterprise data, including data warehouse, data lake, and the newest solution on the market today – Data Mesh. 

Data Warehouse

A data warehouse centralizes and processes large amounts of data from multiple sources. It has inherent analytics capabilities that allow enterprises to derive business insights. The Data warehouse follows a “schema-on-write” approach where data is extracted, transformed, and loaded (ETL) when storing it. 

Data Lake

Data Lake essentially refers to a data repository where large amounts of structured, unstructured, and semi-structured data could be parked. Data lake centralizes, organizes, and protects data that follows a schema on reading approach meaning data can be structured at query time based on a user’s need. 

Conventionally, a data lake on its own does not have analytics capabilities. The data lake is usually a cloud-based data repository that needs a data analytics engine on top for data processing actions such as indexing, transformation, and querying. 

Data Mesh

Data mesh is a more modern method of enterprise data management that has emerged in recent years. The enterprise data industry defines data mesh as “a shift in a modern distributed architecture that utilizes platform thinking to develop self-service data infrastructure, treating data as the product.”

This is essentially referring to an architecture that supports distributed data. This system makes data accessible to every user as needed based on their access rights. A data mesh allows data to be distributed across multiple databases and need not be centralized in a single storage lake. This means a data mesh architecture can connect various data sources, including data lakes, into a coherent infrastructure.

A comparative view: Data Mesh vs. Data Lake

While considering these enterprise data management systems, it is crucial to understand that it is not a matter of a “one size fits all.” These approaches have pros and cons, and the choice of which enterprise data management system to use is essentially down to the enterprise’s specific needs. 

The terms “data lake” and “data warehouse” are sometimes misused interchangeably. A data lake is a collection of unprocessed data that must be handled as necessary. In contrast, a data warehouse stores data that has been processed for a specific purpose. Simply said, a data lake is selected when advanced analytics capabilities are required. Still, a data warehouse can be implemented when data is necessary for operational purposes, such as in the financial services sector.

Data mesh, however, works on the principle that data will always be distributed. It works very well for organizations that use multiple databases. It has a limitation in that the speed of querying data from a data mesh is limited by its slowest query. 

As different as they are, the data lake and data mesh could be complementary. For organizations that have data distributed across multiple databases yet want to run faster queries, it makes sense to use a data lake platform for analytics within the existing data mesh architecture.

Data mesh ensures data democratization because it supports decentralized data architecture. Equally, the free flow of data across the organization is a byproduct of data lakes. Looking ahead, the goal of enterprises is to become data-driven and ensure systematic access to data across the organization. This space is still evolving and one to watch out for.

Vatsa Solutions has a team of experts in data engineering that has helped multiple businesses harness the power of data and create meaningful insights from it. Reach out to our experts to learn more about the various options available in enterprise data storage and understand which is best suited for your organization.

Why Is Sales Performance Management (SPM) Important?

Why Is Sales Performance Management (SPM) Important?

In the current economy, most operations can be considered as sales. But the question is, given such an abundance, how can businesses optimize their sales approach? This especially applies to businesses whose trajectory keeps changing directions frequently. Well, that’s what Sales Performance Management (SPM) can help with!

What is Sales Performance Management?

Gartner defines Sales Performance Management as “A suite of operational and analytical functions that automate and unite back-office operational sales processes, and are implemented to improve operational efficiency and effectiveness.”

The target of SPM deployment is to meet business performance measures. Varicent provides industry-leading SPM solutions. An SPM software, such as the one Varicent offers, helps enterprises magnify their digital operations. SPM creates functionality across departments, such as compelling horizontal and vertical communication advantages. It results in desired sales numbers using tactical strategies.

Why is Sales Performance Management Important?

SPM’s core capabilities include

  • Territory Management (TM)
  • Incentive Compensation Management (ICM)
  • Quota Management (QM)
  • Objectives Management (OM)
  • Advanced Analytics
  • Natural Language Processing
  • Gamification
  • Mobile Apps

SPM is helping businesses, large and small, across various sectors improve their sales operations. For example, SPM helped United Rentals to automate calculations, manage adjustments and approvals, build models, and view performance and trends. This enabled them to improve the effectiveness of their compensation programs continuously.

Similarly, owing to SPM, numerous other businesses have witnessed tremendous improvements and growth. Thus, businesses yet to implement SPM tools at their workplace are rushing to reap the benefits. In fact, the global market size for SPM is projected to grow at a Compounded Annual Growth Rate (CAGR) of around 15% between 2020 and 2026.

SPM innovation is a way of sales performance enhancement that brings leaders together. They can overtake the competition irrespective of what they are selling. In a gist, SPM allows sales managers to impact and improve all sales touchpoints. Here’s how sales performance management benefits organizations to streamline processes and scale business: 

What are the Benefits of Sales Performance Management?

Generating Analytics

Long gone are the days of intuitive decisions. Compensation is now proportionate to the performances of the sales force, and the credit goes to SPM. A data-backed analytical system keeps a real-time tap on performances. Gratification is one of the outcomes. Performance stats allow a business to understand the strengths and weaknesses of the sales infrastructure. SPM software today generates exceptional insights to quantify results. Goals are defined and classified in the right manner, backed by purely analyzed data.

Predicting Future Sales

With advanced data capturing, monitoring, and analyzing capabilities, SPM tools help forecast future sales accurately. This helps with employee compensation, business planning and strategizing, and making other business-related decisions more precisely. For instance,  with the help of SPM, MetaCompliance has been able to:

  • Drive greater revenue predictability
  • Eliminate intuition bias within the forecasting process and make data-driven decisions
  • Achieve sales adoption of the product to boost clean data entry and improve forecasting data hygiene
  • Enhance visibility to provide a more accurate view of the pipeline

Enabling Execution

The factors of integration and distribution make a significant impact. However, execution also matches the weightage. There are many boxes to tick here – the compilation of assigned tasks, the balance of on-site task assimilation, setting the numbers right, etc. 

Once the structures across departments are adequately figured out, sales can accelerate. Instruments like gamification to manage and measure sales success are all possible additional SPM components. They help keep sales on course. These components may be and easily connected using an AI-led edge solution to sales quality management created to natively handle the unique needs of IT, sales, and finance.

Bringing in Transparency

SPM puts it all on the table. Daily notifications on the activities support the employees’ updates on everything. It is practically impossible to keep a note of and revise everything, especially with numerous processes operating at once. An SPM software generates real-time notifications and creates utmost transparency. Not only is everyone up to date, but also in check with the timelines. SPM will revamp data structures and standardize the in-house performance with no effect from the external environment.

For example, Colt could instantly identify their mistakes with payments due to real-time notifications provided by the SPM solution by Varicent. Thus, their employees could ensure that they charged customers the correct fees. This helped boost accountability and led to 30% sales team growth.

Here’s how we helped a US-based healthcare and insurance company leverage Varicent’s Sales Performance Management platform (SPM) to streamline its sales operations. 

Summing Up

Sales Performance Management is a boon for organizations, providing them with an edge in sales processes. SPM solutions, like Varicent, have enabled businesses to strategize operations effectively, enhance sales opportunities, and embark on a journey of continuous, sustained growth.

Now that you have understood what SPM is and what benefits you can derive for your business, you might be looking for a robust and agile SPM tool to implement at your workplace. You can check out Vasta’s sales performance management solution that can help you create adaptable strategies and own your revenue growth. Contact our experts at contact@vsplc.com to know more.

How Manufacturers can Benefit from Hyper-Automation

How manufacturers can benefit from hyper-automation

The global pandemic of 2020 and the subsequent geopolitical issues have highlighted the shortcomings of global supply chains. Manufacturers worldwide are reeling from its effect and simultaneously looking for ways to automate their processes to future-proof their workflows.Continue reading

Supercharge your Operational Efficiency with ServiceNow

Supercharge your Operational Efficiency with ServiceNow

ServiceNow, a SaaS (Software as a Service) platform, helps organizations transform and effectively manage their businesses by automating their processes and workflows, resulting in increased productivity, reduced costs, and better risk resiliency. They provide solutions across domains such as customer experience, employee experience, technical excellence, and operational excellence and across a plethora of industries such as Education, Energy, Financial Services, Healthcare, Logistics, Manufacturing, Retail, Telecommunications/Media, etc. 

With the help of a single unified cloud platform, ServiceNow’s Now Platform has transformed the digital ecosystem of enterprises and helped them boost their efficiency, deliver value, and connect people and systems. Moreover, ServiceNow has been named a Leader in the Forrester Wave™: Digital Process Automation Software, Q4 2021. Detailed below are the various digital transformation solutions that they offer.

IT Workflows

ServiceNow provides a unified platform to handle Information technology (IT) operations, risk management, and security administration. It enables optimization of IT services and provides a modern, credible experience in alignment with the customer priorities.

Below are some products that power the IT Workflows:

IT Service Management:

In the world of IT service management (ITSM), ServiceNow has been a pretty dominant force with its powerful features in incident management, change management, and problems management, and knowledge management, along with many others. It has a powerful ITIL package (Information Technology Infrastructure Library) built inside, along with a helpful scripting engine to do customizations. Using the ServiceNow Platform, the University of Maryland was able to achieve an impressive reduction of 75% in incident resolution times.

IT Operations Management:

These workflows enable predicting issues and auto-resolving them using the power of AI, thereby significantly minimizing user impact. Finastra, a financial services provider based in London, was able to save $350K annually using this platform.

Strategic Portfolio Management:

This platform enables organizations to develop strategies, create plans, set targets, make decisions, and track the progress until the desired outcome is reached. Using this platform, the Western & Southern Financial Group was able to align IT investments with their business targets successfully.

Customer Workflows

In this era of cut-throat competition, providing the best service to customers is the number one priority for any organization. But it is easier said than done. With so many channels of communication in use, such as phone, email, chat, social networks, etc., it has become a challenge to maintain consistency and ensure service quality. With limited staffing and continuous incoming calls, it becomes even more difficult to give timely responses, that too within the stipulated SLAs. Fortunately, ServiceNow provides some excellent solutions to handle this. 

Customer Service Management:

This platform strives to provide a hassle-free experience to both customers and agents. By connecting teams and systems and also enabling self-service, customer needs are addressed quickly. Tennessee DHS saw a 70% reduction in inquiry resolution times and a 99% reduction in inquiry assignment times using ServiceNow.

Field Service Management:

This service enables connecting the field service team with other teams and tools to improve operational efficiency and enhance customer experience. Scheidt & Bachmann, based out of Germany, reported 97% customer satisfaction after implementing ServiceNow’s solutions.

Financial Service Operations:

These solutions deliver modern capabilities in the areas of banking, insurance, and wealth management that result in accelerated performance and easy experiences.

Employee Workflows

Employee workflow solutions allow employees to work productively and collaborate effectively by providing them with the right set of tools and training. These workflows help improve agility, boost productivity, and raise employee morale. As per a recent IDC report, agile organizations retain employees at a 34% higher rate. Using this platform, employees are equipped to traverse through complex processes with ease and are also able to retrieve information through their preferred channels. 

HR Service Delivery:

These solutions aspire to improve employee productivity by providing them with unified work experiences along with enterprise-wide workflows that can be accessed through any digital channel. Distell, a global alcoholic drinks manufacturer and distributor based in South Africa, was able to automate 57 processes and close to 100 sub-processes using ServiceNow’s solution.

Workspace Service Delivery:

Through modern digital services, this solution enables support for a hybrid workforce from any device and any location.

Here’s how we helped a business create a unified service portal using ServiceNow’s Employee Centre Pro module for an enhanced employee experience.

Creator Workflows

Creator Workflows enable developers to develop low-code apps and transform legacy business processes into modern, digital workflows. These apps are designed to be cross-enterprise, scalable, and deliver a top-notch user experience.

This suite comes with the below offerings: 

App Engine:

App Engine facilitates developers to build low-code apps with very less complexity rapidly. These apps can automate critical business processes and be built targeting specific business needs, thereby fuelling growth and revenue. Intercontinental Exchange, a financial services provider based in Atlanta, developed more than 20 custom apps using ServiceNow, with a 50% reduction in the development effort. 

Integration Hub:

Integration Hub enables easy and quick integration of ServiceNow with critical business systems, along with minimized cost, complexity, and risk. American University was able to leverage the ServiceNow platform during the COVID-19 pandemic to keep the classes running for over 13,000 students remotely. 

Manufacturing Connected Workforce:

This solution aims to unlock worker productivity by digitizing SOPs and also by providing them with digital tools to perform at their best, collaborate with others, and share knowledge across the enterprise.

To know more about how we can help you enhance your business outcomes with the help of the ServiceNow platform, reach out to our experts at contact@vsplc.com.

What 2022 has in store: Top Digital Transformation Trends in 2022

Top Digital Transformation Trends in the Coming Year

Last year was conclusive proof that digital transformation has become necessary for all organizations alike. With organizations worldwide embracing this transformational journey, many wonder what the new year will look like. The last year also witnessed many technological advancements and fundamental shifts Continue reading

Custom Software Development for Fintech: Importance and Benefits

Custom Software Development for Fintech: Importance and Benefits

Did you know that global fintech investment has skyrocketed from $87 billion in H2’20 to $98 billion in H1’21?  With rapid advancements in technology and customer-centricity, financial firms such as banks, insurance companies, investment houses, and others are rapidly investing in digital Continue reading