Today’s markets are shifting rapidly due to several different disruptive forces. So, it begs the question: Is your business built for agility so that it is resilient as well as innovative in times of rapid change?
Agility is the flexibility to adapt elements of your business very rapidly in response to changing market conditions, such as your processes, supply chain, and even the products and services that you offer. And since your business is likely operating more with software and data than documented processes, agility is largely created through architectural agility. So business agility is now a business imperative, and an agile architecture will lead to an agile business.
Agile architecture is built on many modern technologies, including cloud-native applications. These apps take advantage of the elasticity provided by cloud platforms. New applications should be built with a cloud-native approach, and existing applications can be reengineered into cloud-native apps. Existing apps are often difficult to maintain, scale, and adapt because they are large and complex, thus they are called “monoliths”. A cloud-native architecture built with technologies such as microservices allows for more rapid adaptation and horizontal scaling, and ultimately faster time to market, happier customers, and streamlined operations.
A focus on architecture alone will not create maximum agility. You also need to align your IT strategy with your business goals, evolve your processes, and adopt best practices from across the industry. For example, in the past, the lines of business always needed to rely on IT. Nowadays the typical business user is much more tech-savvy than in the past. If you want to be agile, you need to realize that not everything can be built and maintained by a small IT team. That said, you want to give your people the tools they need to empower them to build integration or application with ease, such as a no-code or low coder integration platform that allows anyone to create and build integrations. This creates employee synergies that unlock productivity, efficiency, and agility, allowing your business to operate faster.
Let’s take a look at a few industry examples of where business agility is crucial to success.
Manufacturers need to be more agile to adapt operations as well as their products. This can include product development, supply chains, logistics, and distribution. Business resilience and agility can only be achieved by quickly adapting the digital platform that supports these processes.
Retail Banking & Finance
Open banking allows banks to extend their services into adjacent markets, which enables new customer-centric business models for innovative value-added services. Responsive architectures can help to transition from closed traditional business models to a collaborative business model where products, services, and data are shared with third-parties and where agility is key.
Over the last 6 months, the retail industry has been going through rapid changes. Retailers have had to learn how to continue to generate business when they have far fewer customers in their stores. Modern architectures allow retailers to reach customers in new ways, for example through online promotions and satisfy their needs through different types of operating models, such as online ordering, on-site pickup, and delivery. This results in real-time notifications across multiple applications (logistics, inventory, billing) and inventory management. Lastly, it allows retailers to scale horizontally to support any online holiday season sales or online orders.Is your business built for agility so that it is resilient as well as innovative in times of rapid change? Click To Tweet
Watch this webinar with RTInsights to learn how you can boost business resiliency with a responsive application architecture. Also, read this eBook on TIBCO’s Responsive Application Mesh for a more in-depth look.