As businesses continue to navigate the challenges of modernization today, there is a crucial need to align technology strategies with business needs to ensure agility, and foster innovation. Insights from NTT (News - Alert) DATA’s Lifecycle Management Report highlight the negative impact outdated technology is having on organizational progress and growth.

According to the report, a staggering 80% of organizations agree that inadequate or outdated technology is a significant barrier to progress, with 94% of C-suite executives pinpointing legacy infrastructure as a major hindrance to business agility.

Based on responses from senior technology decision-makers worldwide, the report underscores the challenges organizations face in managing their technology infrastructure amid rapid modernization and a fragmented supplier ecosystem.

One of the most alarming findings is that more than two-thirds (69%) of currently active hardware will no longer be supported by 2027, creating a pressing need for organizations to address their lifecycle management strategies. The report also reveals that only 51% of enterprises have fully aligned their technology approach with their business strategy needs, while 71% report that their network assets are mostly aging or obsolete.

The misalignment of lifecycle patterns can have severe operational impacts, including inappropriate coverage levels, labor-intensive renewals, extended incident resolution times, security breaches, and costly license violations and compliance issues.

How can IT leaders mitigate these risks and maximize the value of their hardware and software investments? Key recommendations in the report include:

• Develop a Holistic View: Create a comprehensive view of technology assets to rationalize potentially misaligned lifecycles.
• Standardize Procurement Practices: Streamline multi-vendor environments to better manage the fragmented technology ecosystem.
• Optimize Costs and Services: Improve cost optimization while enhancing service provision for both internal and external stakeholders.
• Sustainability Benefits: Implement improved lifecycle management procedures to deliver significant sustainability benefits, aligning with broader organizational goals.

Gary Middleton, Vice President of Networking GTM at NTT DATA Inc., emphasized the importance of infrastructure lifecycles: “Effective lifecycles can result in huge business benefits—from increased efficiency to fostering greater innovation. However, inefficient lifecycle management can be a significant operational blocker, posing numerous risks to security and business continuity. Through the Lifecycle Management Report, our aim is to help organizations enhance their infrastructure lifecycle processes and unlock the huge benefits doing so presents.”