Composable architecture: How to future-proof your business tech stack
Technology is changing at lightning speed along with market trends and customer expectations. Adding more to it, as per a recent survey by the Conference Board, 93% of corporate CEOs are gearing up for a recession over the next 12 to 18 months.
The immediate requirement for these leaders is to ensure the resilience of their technology stacks for the future, thereby keeping their businesses ready for a diverse range of unforeseen circumstances. In such a scenario, delivering customized user experience through composable architecture could ensure long-term survival and success.
Customer experience is prioritized by 44.5% of enterprises worldwide, as per a 2021 Statista report. Achieving this in today's dynamic environment requires effectively using technology to create and deliver top-notch products and services.
To help organizations respond to that sense of urgency, here are five tips to consider when futureproofing your business tech stack.
1. Customized User Experience
Brands, on their composable journey, must focus on offering personalized user experiences, attained using relevant user data right from the start. McKinsey reports that 71% of consumers expect personalized interactions from brands.
Besides improving user experience, brands must focus on designing systems that scale with the growing user base and its dynamic functionality needs.
2. Coordination with other business units
Contrary to traditional stereotypes, IT does not function in isolation. In fact, to ensure business success, technology initiatives must align with the business's overall strategy and add to the brand's short- and long-term goals. However, transitioning from a monolithic structure to a composable one must be iterative. Once a new technology is integrated within one business unit, it can eventually be rolled out to other units. While preparing for future challenges, the choice of technology will impact multiple business units during a business's transitional phase.
To make sure a specific new tech works well for all units, it's essential to plan and think about the opportunities, problems and trends that might occur. This requires effective collaboration across business units. Given the interconnected nature of these departments, proper goal alignment must be ensured to deliver compatible, scalable, flexible and secure results. For seamless and customized solutions across different touchpoints, the chosen technology should be capable of scaling and accommodating new process changes across the organization.
3. Constant hyper-personalization and differentiation
The importance of customer experience (CX) is highly discussed in the current business ecosystem. Brands are constantly innovating new solutions to thrive in the face of competition. The only way to do that is by adopting highly scalable tech stacks that incorporate speedy change processes.
While customers expect a more compelling experience, selecting any technology for the sake of it or, worse, by mimicking other brands will not work and will lead a brand to lose its competitive advantage. Instead, they must adopt best-of-breed components and change stack parts when required, creating the much-required hyper-personalized experiences.
4. A flexible approach
Businesses are more unpredictable than ever, increasing the potential stakes for which leaders must be prepared. While tech leaders know that a tech revolution is coming, the exact nature of the change remains unknown. This unpredictability will lead to rapid and diverse market requirements and changes in user preferences.
By investing in and leveraging technology, brands can quickly adapt to these changes and make necessary system adjustments. Furthermore, flexible tech is more interoperable, allowing smoother integration with other tools and platforms.
5. Prepare your organization for the future
Don't bite off more than you can chew when it comes to composability. Business leaders can decide the number of components they want to switch at a time. Unlike monoliths, composable architectures allow business leaders to determine the number of components they want to change at a time. This makes the shift a lot smoother and much quicker. There is no rush to modernize in haste.
With customer needs and industry trends changing dynamically, flexibility in business functionality is the only way forward and achievable through composable architecture. But before getting into the composable journey, organizations must find their motivation and identify their reasons for going composable to deliver a differentiated experience to their audience.
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