- a program or piece of software designed and written to fulfill a particular purpose of the user.
- a range of investments held by a person or organization;
- a range of products or services offered by an organization, esp. when considered as a business asset.
Robust companies need strong application portfolio management (APM). To maintain efficiency, you need to regularly assess your existing applications to monitor performance and track metrics related to capability and effectiveness. Whether you have an existing process or need to implement one, NEOS can help. We understand the requirements of good APM and can work with you to design and/or execute a procedure to make sure your portfolio is performing at top efficiency.
Application Portfolio Management Solutions
In the area of legacy applications, it is quite common to find applications that are greater than 15 years old. In many cases, the original authors of the system are no longer there or they are there but have simply forgotten much of the applications’ detail.
This situation is where NEOS Application Portfolio Assessment (APA) solutions can assist in understanding the legacy application. Using NEOS sister company, Vgo Software’s, ART product, NEOS can quickly decompose a legacy Oracle Forms, Sybase PowerBuilder, Microsoft VB or .Net application to assess the feasibility of modernization.
Using ART and the expertise of our modernization solution consultants, NEOS can quickly deliver:
- Objective technical complexity of the legacy application.
- Utilization of vendor proprietary components.
- Determine dependencies with other programs and databases.
- Identify areas of re-use, consolidation or “dead code” within the application.
- Make recommendations as to possible modernization options of the application.
APA solutions can be delivered in anywhere from 1 to 6 weeks, depending on the legacy technology and scope of effort.
Not all modernization efforts result in a change in technology. In the case of life insurance companies, some older closed-block policies could be re-written into a newer product with similar features, reducing operational costs and dependency on legacy systems. Similarly, closed-block life insurance policy maintenance could be outsourced to reduce overhead and, again, reduce the cost and risk of legacy systems.
Consolidation or conversion of a legacy system saves resources, while still increasing efficiency and lengthening the life of a legacy system.