Survey: 79% of Application Modernization Projects Fail

The report "Why App Modernization Projects Fail," conducted by vFunction in collaboration with Wakefield Research, explores the challenges faced by companies in modernizing monolithic applications, based on a survey of 250 IT professionals from large organizations. It highlights that the urgency for app modernization is driven by digital transformation and cloud migration initiatives, especially accelerated by the COVID-19 pandemic, alongside competitive pressures from digital-native companies. Despite the necessity, a staggering 79% of these projects fail, often due to complex monolithic code and limited resources, averaging a cost of $1.5 million and taking 16 months. The report stresses the need for the C-Suite to understand these challenges clearly, as well as the importance of proper tools and organizational restructuring to support successful modernization outcomes beyond the outdated "lift and shift" approach.