With the improvement of technology and evolving customer habits, many companies have been more entertaining that the idea of replatforming, but are still reluctant. Why? Well for starters:
- The job of replatforming can quickly develop into an extensive and costly endeavor.
- The previous expense of a former platform is difficult to give up.
- And the likelihood of a new investment not working could cost you your job.
All these are valid reasons for contemplation, however, replatforming can bring many benefits to your organization that you may be missing out on.
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Benefits of Replatforming
Traditional incumbent platforms were created to quickly spin up website only experiences to embark on your commerce journey. However, due to the rigid structure, customization has been rather debatable and oftentimes impossible. By replatforming to a more flexible solution that leverages MACH based technologies, both the technical and business teams can benefit from having more control of designing distinctive commerce experiences to outpace competitors.
Every business’ ideal purpose is to always grow and optimize on earnings. So the last thing you will want is a solution that is unable to sustain this growth. According to a study conducted by Forrester, Recognizing TCO When Assessing E-Commerce Solutions”74 percent of organizations have concerns that their platform will not allow them to scale properly.” Such issues may result in slow loading time of your website, thus offering a lousy experience to customers. To mitigate this threat, you will want to consider cloud-based platforms which guarantee your security but let your solution to scale for peak demand times on your website.
Traditional platforms were created in an all-purpose solution, where all performance was built fit for purpose. This suggests one vendor provided all your trade performance like search, carts and checkout and content management wrapped up in 1 system. This was fantastic, until other vendors became specialists in each field and specialized in creating each trade functionality to support the market. Although these are appealing, the rigidity of many platforms don’t allow these third party solutions to integrate well or even at all, with your commerce solution. From replatforming to a more nimble solution that follows a best-of-breed approach, you can eliminate these limitations and integrate freely.
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Consistent Adventures Across Multiple Touchpoints
As customer expectations and needs continue to evolve post the pandemic, we are seeing an increasing number of requirements for trade experience across channels, such as mobile, voice, chatbots, A/R and much more. However, consistent setup across these stations can be hard if the frontend UI experience of your system is hardwired to the backend commerce functionality of your system. To make more flexibility to your team to deliver these experiences, you want to consider replatforming to a headless commerce platform that eliminates the dependencies. This will be a game changer for customer retention and experience rate since they would have the ability to start a transaction in 1 place and finish it in another.
And finally, the most essential issue that’s on top of everyone’s list, cost. Many businesses get drawn in by attractive pricing, only to be astounded by extravagant costs later on. Many platforms encourage cost based a typical trade experience that has been built it their vision for your company. However, the fact isthat every organization is unique and will require unique modifications and customizations. For many these legacy platforms, making changes is the best factor in the total cost of ownership for your solution, thus causing your eCommerce costs to be higher than you anticipated. From replatforming to a Composable Commerce solution, you may lower your overall costs of ownership by approximately 47 percent . Composable Commerce solutions were constructed for change, so that you could always innovate and optimize your solution with no possibility of failure and affecting your budget.
When these gains can be appealing, we are still aware that a replatforming project can be quite a great deal of work. Therefore, you should:
Evaluate if you truly need to replatform Understand the process of replatforming Make sure your business is in the right position to undertake this type of job and Select the Perfect vendor to conduct your replatforming project