By Saurabh Saxena
As Indian businesses navigate the rapidly evolving digital landscape, they understand the importance of future-proofing their software solutions. The biggest need for future-proofing business software for Indian firms lies in the rapidly evolving digital landscape and the increasingly competitive market.
Technology is continuously advancing, with new tools and software emerging regularly. Future-proofing business software is essential to ensure compatibility with upcoming technologies and to leverage them for gaining a competitive edge. For example, a Boston Consulting Group report on digital maturity, found out that scaling digital solutions can generate revenue increases of 9%-25% and cost savings of 8-28% when compared to the baseline. That said, the lack of digital capabilities can be detrimental to the growth of companies.
A report by industry body, NASSCOM, “Future of Cloud and Its Economic Impact: Opportunity for India”, states that while cloud adoption can contribute a massive $250 billion to India’s GDP and add close to 14 million direct and indirect employment opportunities by 2026, the lack of cloud adoption can mean that India will lose $118 billion in GDP and 5 million jobs in the same period.
Future-proofing software by incorporating the latest technologies, is hence not a business need, but a critical imperative as it allows businesses to stay agile and respond quickly to market shifts, and enables them to retain their market position and explore new opportunities.
While the benefits of future-proofing are well recognized, implementing it effectively remains a challenge. Strategies for Future-Proofing
Adopt the right mindset and approach
Future-proofing software requires a mindset that embraces continuous learning and adaptability. It’s not just about being prepared for tomorrow; it’s about staying ahead of the curve and shaping the future involving in-depth understanding of emerging technologies, industry trends, and customer needs. By cultivating a culture of continuous learning, organizations can anticipate shifts in the market and proactively adapt their software solutions.
Technology evolves at a rapid pace, and market dynamics keep evolving.. Organizations need to be agile and flexible in their approach to accommodate new solutions. Future-proofing software requires more than a passive readiness.
Staying ahead with Continuous Release Cycles
Continuous release cycles refer to a software development approach where new features, enhancements, and updates are regularly and frequently released to users. Instead of waiting for extended periods to deliver major updates, organizations adopt a more iterative and agile approach by pushing incremental changes to their software on a continuous basis. Continuous release cycles require organizations to foster a culture of innovation and iterative approach. It involves encouraging teams to think creatively, experiment, and explore new ideas. By creating an environment that values innovation, Indian businesses can drive constant progress and stay ahead of the curve. This helps them to stay at the forefront of technology and differentiate themselves from competitors. Continuous release cycles prioritize user satisfaction and engagement, and organizations can address user feedback, incorporate new features, and enhance the overall user experience. This approach allows for a more user-centric development process, whereby software evolves based on real-time input from users.
Scaling up with Agile Platforms
By building scalable and agile platforms, Indian businesses can future-proof their software solutions. These platforms enable them to handle growth, adapt to emerging technologies, integrate with other systems, and deliver exceptional experiences to both employees and customers. This not only enhances operational efficiency but also drives customer satisfaction, retention, and overall business success. Scalable and agile platforms are designed to seamlessly integrate with other software systems and technologies. They allow for smooth data exchange, interoperability, and collaboration across various components of the tech stack. This integration capability is vital for Indian businesses as it enables them to leverage existing systems, integrate with third-party solutions, and create cohesive software ecosystems.
Delivering through Total Experience (TX) Approach
The TX approach, which encompasses employee experience (EX), customer experience (CX), user experience (UX), and multiexperience (MX), becomes crucial in providing holistic and superior experiences. By weaving together these aspects across various touchpoints, Indian businesses can drive growth and ensure total satisfaction. By considering all aspects of the software ecosystem and optimizing experiences for all stakeholders, organizations can stay ahead of the curve, deliver superior shared experiences, and thrive in an ever-evolving digital landscape.
Benefits of Future-Proofing
Embracing a forward-looking mindset offers numerous advantages to businesses. It enhances their understanding of software usage, extends the lifespan of software investments, and eliminates the need for costly technology replacements. This results in improved financial performance and increased employee satisfaction by reducing the frequency of software orientation. Future-proofing, ensures compliance with data privacy regulations, providing a better return on software investments through improved productivity, and enhanced customer satisfaction.
As Indian businesses navigate the ever-changing digital landscape, they must embrace agility and resilience to future-proof their software solutions.
(The author is Saurabh Saxena, Regional Vice President at OpenText, and the views expressed in this article are his own)
