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In June 2022, Siemens Smart Infrastructure (SI) announced one of the largest M&A deals in the history of IoT software by acquiring Brightly Software for $ 1.75 billion. Brightly is a software-as-a-service company offering smart asset management solutions.

According to Gartner, in the next 12 to 18 months, 81% of IT organizations will automate more tasks and workflows. When asked why their company is investing in Robotic Process Automation (RPA), business and IT leaders responded that they want to free up employees who can do higher-value work.

Google Cloud commissioned a report entitled "CIO Guide to Application Modernization." According to this report, 74% of IT spending is on maintaining legacy systems instead of creating new ones. When asked about modernization, business leaders responded that legacy systems "continue to be a drag on innovation."

The latest McKinsey Global Survey on Digital Strategy in May 2022 has found that “companies’ overall adoption of digital technologies had sped up by three to seven years in a span of months.” Businesses have realized that their legacy application portfolio is acting as a barrier as opposed to being an enabler for this digital acceleration.

It may surprise you that the key to success in a digital transformation is not technology but culture – specifically, a digital culture. Creating a digital transformation culture is so important that, according to studies, a third of key decision-makers in companies believe that true digitization cannot occur without it.

The most recent trend in application development pertains to leveraging design thinking to solve problems. The emphasis is on understanding the user’s attitudes, behaviors, and challenges before developing a solution. Digital tools have made it possible to visualize solutions through wireframes before developing the product features and functionalities. Today, it is also possible to let users interact with these features through high-fidelity wireframes and gather their feedback before the development phase.

The pandemic has accelerated digital innovation. Companies want to implement a ‘global’ solution that effectively brings together cutting-edge technologies such as Cloud, Mobility, AI, Big Data Analytics, and Robotic Process Automation to automate repetitive tasks, streamline operations, and generate actionable insights. These technologies can free up human resources to focus on strategic initiatives and propel business growth.

It's not easy to turn a great idea into software that meets market demand in today's highly competitive environment. There are significant risks involved in developing a product that people don't care about or need. It is a company's worst nightmare. What can you do to fix this? It's worth seeking out the help of more experienced teams.