The to-do list is long for traditional businesses hoping to modernize for the digital age: Change their processes, change their mindset, change their culture, change their technologies — check, check, check and check. No digital initiative, however, will see enduring success if businesses don’t also change the underlying foundation that powers their newly digital approaches.
Old-school IT infrastructures are simply not equipped for today’s demands for speed-to-market, fail-fast innovation, turn-on-a-dime agility and real-time response. They’re not up to the task of executing swift, seamless processes, eliminating arduous tasks or fending off fast-morphing cyberthreats. And as organizations move away from sequential, linear development styles to DevOps- and Agile-driven approaches based on continuous integration/delivery and minimum viable products, these infrastructures are unable to deliver on the quick time to value expected from technology investments today.
Consider new insurers such as Lemonade, which not only promises swift claims processing transactions (filed through video testimonials) but also reports back to the customer instantly on how many minutes or even seconds it took. Can your infrastructure support that? Or consider banks like Bunq, which enables customers (or “bunquers,” as it calls them) to open temporary group accounts to more easily share expenses (not unlike a group chat but for banking). Try that with an old IT infrastructure – or not.