BFSI, Healthcare, and Manufacturing are amongst the key sectors driving the digital transformation bandwagon
The “Work from Home” model, as a result of the COVID – 19 pandemic, has certainly exposed the need for modernization of critical mainframe systems among Indian businesses. Transforming IT infrastructure enables enterprises to create highly efficient, flexible and agile IT systems and processes. However, before the outbreak of the pandemic, many organizations relied on a variety of outdated and inefficient technology to run their businesses. In fact, recent reports stated that 71% of IT organizations consider legacy infrastructure as their biggest barrier to digital transformation.
The overnight shift to the remote working model highlighted the drawbacks of the physical infrastructure. It made organizations realize that digital transformation can no longer be treated as an option, it needs to become an imperative. Hence, there has been significant rise in organizations modernizing their IT infrastructure and migrating their business critical workload to the cloud. Clover Infotech, a comprehensive IT services provider, has observed a 90% growth in legacy and application modernization, and 95% growth as an overall increase in digital transformation across various sectors among their clients.
This change has been observed over the last six months, as businesses have revamped their operations to meet the needs of the new normal. BFSI, Healthcare, and Manufacturing are amongst the key sectors driving the digital transformation bandwagon.
On digital transformation being a necessity today Shrikant Navelkar, Director, Clover Infotech said, “Companies who were on the digital transformation path already, had a well-planned sequence of activities for their digital transformation projects. It was based on their priorities and investment in resources. What the lockdown and post lockdown situation did is that it made companies alter their sequence of activities. Enterprises have now made their remote workforce more productive, and made their IT systems more scalable and secured. Also, non-financial teams became more financially savvy to see how they can optimize costs everywhere. These aspects are also vital for digital transformation and COVID – 19 helped us to accelerate these.”
“Now there is a massive push for modernizing these legacy applications. These efforts are focused on two fronts, unleashing the data trapped in these legacy systems and democratizing this data with self-service analytics. Now business users can directly access the legacy systems, slice the data and extract information that was earlier trapped for years. Remember how we used to book our holidays 20 years back? Our selections were highly governed by the travel agent’s knowledge of the destination and his incentives. Now you can explore the world through Airbnb and plan as per your likings and budget. In the same way, power needs to be given to the business users to analyze their data, 24×7, and on multiple devices. That is the core objective of modernization.” he concluded.
Oracle, being at the core of this digital transformation and working closely with its partner Clover Infotech weighed in on the happenings of the last few months. Thomas Lee, GM – Oracle JAPAC, said “It will become crucial for organizations to revisit their CAPEX investment and invest those cost savings into modernization efforts as it is vital for digital transformation. In conclusion, I think COVID – 19 has taught us to be more resilient, innovative, agile, and more collaborative. All these are vital traits for successful digital transformation.”