<strong>Legacy to Leading Edge: Over-The-Top Transformation Strategies</strong>

Businesses today face a big challenge: dealing with legacy systems while trying to keep up with the latest innovations. Most companies want to ditch those outdated technologies, but here's the reality check – many are still tied to their legacy systems, whether it is that old computer running vital software or the ancient server hosting a decades-old enterprise resource planning system that has become too scary to touch.

But here is the surprising part: despite the tech world moving at lightning speed, over two-thirds of businesses are still holding on to mainframe or legacy applications, with more than 60% using them for their customer-facing operations. It is like trying to keep an old car running when new ones are racing by!

The issue? The price tag and fear of disruption. Modernization is not cheap, and the risks associated with migrating are many. Instead of achieving a seamless transition, we often find ourselves tangled in a web of legacy systems and emerging technologies that struggle to communicate.

In this article, we will delve into the challenges of handling legacy systems and the necessity to dismantle organizational silos. We will explore a platform-based approach that can bridge the gap between old and new systems. Over-the-Top (OTT) transformation has the potential to rejuvenate legacy systems, enabling businesses to maximize the value of their current and future tech investments. With OTT platforms, businesses can scale, adapt, and fully embrace digital transformation, supercharging user experiences and raking in those profits.

Organizational Silos: The Real Challenge to Digital Transformation

So how can companies break through the gravitational pull of their legacy systems?<2> Think of legacy systems like that heavy backpack you cannot take off. It is holding you back, but you cannot just drop it. Those astronomical replacement costs and fear of transitioning contribute to the legacy systems' persistence. But there is more to the story – some of these old systems still offer value. When integrated properly, legacy systems can be hidden gems. The real challenge, though, is dealing with organizational silos. People, processes, data, networks, and technologies work separately, blocking the smooth flow of data needed for genuine digital agility.

According to KPMG, tech leaders agree that combining technologies is more powerful than individual applications. Yet, these silos create inefficiencies that lead to huge revenue losses<3>. According to research, approximately 90% of companies<4>have initiated some form of digital transformation. However, on average, only a third of the anticipated revenue benefits<5>have been achieved, and only a quarter of these companies have successfully met their cost reduction targets.

The lack of integration and less-than-optimal tech investments create a disjointed mess of systems that fall short of delivering the expected revenue boost and cost savings from digital transformation efforts.

OTT Platforms: Bridging Data Gaps and Turning Information into Power

Now, here is the silver lining – the Over-the-Top (OTT) transformation approach. Instead of throwing everything out, OTT platforms revamp and merge the old with the new. It is like giving your old car a turbo boost, turning it into a supercar. These AI-powered platforms sit on top of your existing tech infrastructure, speeding up digital transformation and extracting every bit of value from current and future tech investments.

But what is truly exciting about this approach is how it bridges data gaps and turns information into power. It paves the way for smooth, end-to-end processes and total visibility into people, processes, and partners. By weaving together tasks, work, processes, documents, and data insights into a single fabric, businesses can make real-time, accurate decisions, boosting efficiency and growth.

Scaling Efficiency Through Over-the-Top Integration

Moving toward autonomous operations is key for businesses aiming to ditch human dependency, cut down on errors and inefficiencies, deliver top-notch customer experiences, and stay resilient in a rapidly shifting market. By connecting the dots in user journeys through an Over-the-Top platform, companies can unlock efficiencies at scale and transform the entire customer experience. AI-powered workflow automation breaks free from the limitations of old, rule-based systems, enabling high-level straight-through processing.

For example, a major US healthcare provider managed a 73% straight-through processing rate for claims by automating pre-authorization validation, saving $260,000 each month, and making customers happier. Similarly, a top Australian telco merged multiple applications across tech stacks to create a unified customer view in their contact center operations, cutting repeat call rates by 30% and earning a better net promoter score.

By allowing data to flow freely through a connected enterprise, AI-driven insights can augment human potential. A Fortune 50 F&B brand digitized data and order acquisition from distributors, increasing employee productivity by 70%. Similarly, a global consumer goods giant boosted demand planning and reduced manual data efforts by up to 90%. An AI-enhanced, unified user interface lets businesses cut the learning curve for new systems, reduce training needs, and empower their workforce to focus on valuable tasks.

Transitioning to a Platform-First Mindset

While Uber, Airbnb, and Amazon built their empires on a platform-first approach, many companies are still stuck in the web of legacy and new technologies. To pivot toward a platform approach, these organizations need to shift their mindset, acknowledge that the old ways are not working, and objectively evaluate their digital transformation efforts.

It is not just about how many bots you deploy; it is about the real impact they have on customer experience and profits. Taking an incremental approach to platform-first transformation lets businesses start small, see tangible results, and then scale up. As tech continues to evolve, businesses need to not only adopt but adapt to Over-the-Top transformations, using legacy systems as enablers of the future.

Achieving Digital Agility with Over-the-Top Transformation

Legacy systems may seem like a roadblock in our tech-savvy world, but with Over-the-Top platforms, organizations can bridge the gap between old and new systems. This means scalability, adaptability, and a complete digital transformation. By connecting the dots and harnessing the power of data, businesses can unlock efficiencies, boost revenue, and transform customer experiences.

The path to Over-the-Top transformation requires a change in mindset, an honest look at your digital transformation efforts, and a more holistic, business-centered approach. By embracing the potential of platform-based solutions, businesses can navigate the challenges posed by legacy systems and become leaders in the modern era. With the right strategy and implementation, businesses can revolutionize their operations, achieve true digital agility, and thrive even when facing future disruptions.

 Authored By: Arvind Rao, CTO, Edge Platforms, EdgeVerve