ISVs are always on the search for what is needed to stay ahead in today’s software services climate. Technology is progressing rapidly, customer’s expectations even faster, and the technology ecosystem that encapsulates everyone involved inside and outside of business is always making advancement.
In this article, we will discuss the most critical adjustments that ISVs can make at this time to keep up. Additionally, we will touch on the challenges, opportunities and what considerations should be top-of-mind during this realignment.
Once upon a time, the ISV created on-premises software solutions for enterprises that were the whole product. The customer would pride itself on being equipped with their customized back-end solution, touting how much this custom software sets them apart from their competition. That was back when each business was ‘on its own island’ by way of technology.
Aside from perhaps their website, there were disconnects between their operational technology, their customer’s technology, and their employee’s technology. This article is not a dirge for what we once had. Instead, it is a warning that if we still are implementing one iota of this ancient mindset in our ISV business model currently, it is time to change!
Digital platforms are the new software product. Today’s world of interconnected software between operating systems, web solutions, SaaS, mobile apps, and the Internet of Things (IoT) has demonstrated that there are a plethora of software fragments that are interconnected to do the job for every business and consumer out there. However, there is still a need for the ISV to generate solutions for companies that will fit in with this interconnected menagerie of systems.
To innovate and at the same time to design a platform has to be the biggest challenge for ISVs. No longer can we have applications-based thinking. Instead, we must have a services-first mindset. Standalone products are a thing of the past but have been the ‘bread and butter’ for decades for the ISV. Now, creating digital-based services that connect to the ecosystem of the modern digital age is the name of the game.
In most cases, the innovations that are being developed on digital platforms today, enable a business to connect with their consumers directly. ISVs can allow the company to create new revenue streams based on this unprecedented access to the businesses customers. Additionally, an inordinate amount of data is flowing through the veins of the digital ecosystem, available for the taking. ISVs can help businesses harness this data, and augment it into useful tools that will provide insights into operations that were never available before the interoperability movements.
At the top of the to-do list while innovating for the digital world 2.0 are the following:
We are living in exciting times! Now is our chance to be an industry leader or an industry fossil. By innovating to the digital platform, ISVs such as Aloha Technology can bridge the digital gap and connect the business to the consumer once again!