"Government entities of all sizes face a common challenge: modernising old-line, inefficient, legacy systems
to better serve constituents, government employees, and other stakeholders," said Andy Pemberton, vice president of solution architecture with OutSystems.
It's not a very difficult task because of the underlying modern architecture, but outdated legacy system
architecture makes it nearly impossible.
In order for companies to become IoT ready, they must find a way to unlock the data within their legacy systems
whilst upgrading to more modern digital platforms that support the constant stream of real-time data that IoT-connected devices generate.
At their core, they're the same legacy systems
designed to be deployed on customers' premises to handle financial accounting--and not much more.
The report is titled, "Legacy Systems
: The inconvenient truth and the cost of doing nothing." It is based on interviews with over 500 buy-side institutions across the globe and research from more than 100 industry sources, and highlights the serious consequences of relying on legacy systems
One potential solution to the issues of cost overruns and prolonged acquisition timeframes is to reuse DoD legacy systems
. While this may seem like an ideal solution due to the legacy system
being complete, tested and even operational, reusing legacy systems
can lead to unforeseen technical complications and financially prohibitive difficulties when integrating with newer technologies.
In 2010, there report adds, the goal among life/health IT departments was to replace legacy systems
where there was a strong business case (49%), and replace on a case-by-case basis (26%).
To help companies avoid the risk and expense of shifting all its data from a rigid and bulky legacy information system into a modern one, computer scientists and engineers and business researchers explain how to reengineer business processes and legacy systems
into more flexible systems capable of supporting modern trends such as enterprise resource planning, supply chain management systems, and electronic commerce.
DOD is in the process of implementing modern multifunction enterprise resource planning (ERP) systems to replace many of its outdated legacy systems
. The ERPs are intended to perform business-related tasks such as general ledger accounting and supply chain management.
As for legacy systems
, most agreed they will not be eradicated from the insurance industry over the next five years, but one CIO made an interesting point: Insurers have avoided the replacement issue by adding on to their legacy systems
in an attempt to modernize the older tools.
Human service agencies spend valuable time and money trying to squeeze what they can out of legacy systems
that are, in fact, putting the squeeze on already scarce taxpayer dollars.