Digital Product reinvention

Digital Product Reinvention

Software products in the pre-digital era

Historically, software products have evolved as process automation & business support systems for enterprises. In the business context of the pre-digital era, software products were primarily created as systems of support for:

  • an industry vertical or domain
  • a narrow function within a domain
  • a granular process (in support of a function

As the complexity, and scope of global businesses expanded enormously, software systems have also kept pace and evolved from simple systems of record to sophisticated systems of differentiation, such as complex ERP systems. In this pre-digital landscape, the primary drivers for software products were business model change, and regulation, whereas technology was used largely as an enabler.

Over the past decade, a perfect storm of digital disruption has altered the technology and business landscape in an unprecedented fashion. Thanks to the impact of digital accelerating technologies such as SMAC, Internet of Things (IoT), Machine Learning (ML), Artificial Intelligence (AI), Virtual reality (VR), and Augmented reality (AR) etc. there is a fundamental change in the nature of demand for software products, which can be summarized as below:

  • In a digital and connected landscape, every business is a digital business
  • Everything is digitized, and software is the primary driver connecting the smart products, devices, and services
  • Every product is delivered and consumed as a service (SaaS and enterprise SaaS), and product has become a means to deliver a service
  • Demand for shift in product focus from a stand-alone mode to serve the needs of digital platforms
  • Unprecedented consumerization and potential for mass adoption
  • Digital speed, rapid pace of technology change, and business model innovation

Digital disruption has set the stage for exponential change, and gave rise to new product and business models such as enterprise SaaS and digital latforms, to serve the needs of the digital ecosystem.

Impact of digital disruption

Digital ecosystem needs digital-native products

Due to the impact of digital disruption and consumerization of IT, there is a demand for enterprise business processes and systems to be made available and accessible across devices, channels, and user groups. To cater to this multi-faceted engagement, Systems of Innovation (also known as Systems of Engagement) have evolved in the form of smart apps and intelligent systems.

In other words, digital ecosystem needs digital-native applications, which are capable of leveraging cutting-edge technologies, and function as sophisticated, intelligent systems of engagement. This need cannot be fulfilled through tinkering at the edges, or partial modernization of legacy applications, and calls for a strategy of digital product reinvention.

In a digital landscape, this calls for future-proofing applications with AI/ML, VR/AR capabilities, and making it modular and flexible at a service-level so that it can be part of multiple business models or applications in a digital platform ecosystem.

Whether it is web-enabled services, mobile-enabled websites, cloud-ready software, or device-independent applications, coMakeIT helps you build leading-edge, sophisticated, digital-native applications, through the following services:

  • Crafting enterprise digital strategy and digital-first approach to meet your technology and business goals
  • Painting the application and service layers, and deployment landscape
  • Assisting in making technology and architectural choices for digital application development
  • Undertaking end-to-end digital application development

To learn more about our services, get in touch