Ah, to leave a legacy. We all want our contributions to have a lasting and positive impact on our businesses. But leaders in the mortgage industry and other industries often face a daunting legacy: Costly and burdensome legacy systems.
In our personal life, we use software applications constantly. They feature attractive and intuitive user interfaces making life easier – they are accessible from the palm of our hand! Then why at work are the words “mortgage software” more likely to elicit thoughts of a Commodore 64 user interface than slick applications on personal devices?
The term legacy system refers to technology considered to be out of date, typically begging to be replaced. Legacy system challenges are all too familiar for industry veterans and newcomers alike. Legacy systems are slow, expensive to maintain, and present consistent roadblocks to innovation required to remain competitive in today’s dynamic mortgage environment. Many legacy systems used today were in fact developed back when the Commodore 64 reigned supreme as the top-selling computer – let’s for a moment visualize those fabled green screen interfaces and flashing cursors!
At your company are green screens still churning beneath a clunky GUI front end?
Despite shortcomings, many business leaders feel handcuffed to legacy systems because they contain vital data. Risks associated with replacing them can seem too much to confront. Instead, to keep up with evolving needs, managers continue to invest millions of dollars to maintain, bridge, and alter business processes in existing legacy systems.
While promising software solutions have been introduced over the years, many are developed presenting telltale signs of future (and familiar!) trouble. Even if they meet immediate requirements, will the framework provide needed agility for future demands?
The confounding issue is that most software solutions are coded in product-specific silos based on specific business requirements. But as requirements evolve, a business continues to face production delays associated with the Software Development Lifecycle (SDLC). How quickly will your company be able to adapt to new business opportunities or the ever-changing regulatory requirements?
Truly modernizing business process requires a solution to effectively bridge data gaps with the past. A solution providing incremental productivity lift without risk of crippling ability to conduct business as usual. A solution to quickly adapt to ever-changing needs, without lengthy delays and costs caused by endless requirement meetings and production delays.
A new way of thinking about technology solutions emerged to mitigate the risk of replacement via a migration approach. There is a software solution built from the ground up on a platform flexible enough to adapt to rapidly changing requirements. A solution developed for business users! The platform consolidates several applications into one for any business process, thus enabling the breakdown of large scale projects into delivery segments. This empowers your business to achieve quick wins, reduce migration risks, manage costs, and use leadership time for tackling market – not system – challenges.
Software solutions – like we create at OrangeGrid – enable your company to consolidate and migrate quickly with less risk, while allowing affordable change agility built upon a developer-free framework. Our approach of digitizing process management with custom solutions is 1/10th the cost and time of custom development. It is possible using a unique development platform that codes only process widgets able to be repurposed and used repeatedly, whatever the process, or business case. The result is a robust and highly configurable framework delivering today’s requirements with same day configuration agility for needs of tomorrow.
Leaders pause when deciding whether to consolidate legacy solutions and migrate to new technology. They see (often after experiencing such trauma before) work, distraction, and cost. By selecting a flexible and configurable software solution, bundled with implementation and operational support by business process practitioners, risks are greatly minimized, the cost is controlled, and process mistakes or new business changes will be easy to fix. Such solutions are what we deliver at OrangeGrid.
As leaders, we want our business stewardship to be lasting and positive. Yet few can make such claims about business technology due to real and perceived risks. Legacy solutions are solutions from yesterday. You’re leading for today and tomorrow!
Using modern tools and a flexible technology framework, it’s time to empower yourself and your business to capture incremental wins, simultaneous ROI, and change agility.
Will you leave behind a legacy or just your legacy systems?