Technology is growing faster than ever, and new frameworks, tools, and features are emerging at an incredible pace to match. That’s why deciding to rebuild your software throughout the product development process is not an easy decision. There are two significant determinants involved in the decision: the rebuilding costs, and the risks involved with postponing it.
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How Do You Determine the Right Time to Rebuild Your Software System?
So, let’s discuss the key factors illustrating the necessity to upgrade your software:
When you first designed your software, it most likely was cutting-edge technology. Nevertheless, as we mentioned above, thanks to the fast changes in software solutions there are better alternatives available now. Alternatives that make your technology more efficient, more scalable and more user-friendly, all of which will attract more users and clients.
Even Federal Government enhances its information technology. According to the White House, Federal agencies spend about $90 billion dollars annually on information technology and about 80% of IT budget goes for the support of old technologies (legacy system).
High Development Ramp-Up Time
If your core team is engaged in other projects and you’re having trouble finding experienced engineers to support your legacy software at an appropriate price, the maintenance of your technology becomes time-consuming and expensive. Furthermore, setting your core team to the task means your developers are spending their time maintaining out-of-date technology instead of building new products. This increases the costs of your project.
How high is the maintenance cost of your legacy system? If your system’s processing speed is slower than it could be, or your software’s real-time capabilities could be more efficient, the result is higher-than-necessary (70% – 80% of IT budgets) maintenance costs. In addition, increased costs can stem from an inability to make technological changes to your system, or if your existing software is not scalable with increased usage. And these are just some of the factors that contribute to high software maintenance costs.
Ask the Right Questions Before Rebuilding Your Software
Before rebuilding your software to a level that’s competitive with the latest technology, it’s vital to perform an audit to give you an idea of the cost and time commitment required. In this audit, you should consider the following factors:
- Hardware costs/costs of hardware replacement
- Expenditure on hardware hosting
- Developer costs to support software
- Maintenance fees
- Licensing fees
- Migration costs from a legacy system to a new system (including data migration from an old format to a new format, and staff training)
- Legal complaint with local and federal laws
How Much Will It Cost to Rebuild Your Legacy Software?
When you decide to rebuild your software in order to bring it up-to-date, it’s imperative to ask certain questions. How much will it cost you? How long will it take to rebuild the system? Should you employ additional team members to do it, and how much money should you spend on doing so? All of these questions come back to two factors: the time and money you need to spend to rebuild your legacy software properly.
It’s often difficult to get an estimate of exactly how much time or money will be spent on updating and rebuilding. Usually, you’ll receive vague answers about cost and turnaround time that leave you no clearer than when you started. Unknown estimates are confusing to stakeholders and executives because questions pertaining to cost and time need clear answers. Similarly, unclear predictions are inconvenient for technical teams to plan their part in the process accordingly.
Thankfully, our Extended Team approach can address this problem for you. Our software engineers or analysts can help you estimate your rebuilding budget and create BA/BI reports, saving you time, money, and hassle.
If you need additional information please feel free to call us (212) 719-4300 or click here to fill in the request form and we’ll get back to you as soon as possible.