Legacy applications need to be modernized; processes need to be automated; customers expect digital-first experiences; new lines of business value need to be unlocked — enterprises across industries need application services to help address these business priorities with agile, scalable, secure, and cost-efficient application landscapes.
Needless to say, businesses everywhere are rapidly transforming their application portfolios and delivery approaches. But what do application services use cases look like in Banking, Retail, and Healthcare? How are application solutions for enterprises helping to drive business application transformation? Let’s take a look at some examples below that prove application transformations done right create measurable results with long-term impact.
Find out more about Hexaware’s application services offering here.
Application Services. What Are They?
Application services are a collection of IT services focusing on building, maintaining, integrating, securing, and transforming enterprise business applications. From application strategy, development, and architecture to testing, deployment, and management, application services enable digital competitiveness through software solutions.
Typically, application services deliver the following:
- Enterprise application development
- Application modernization and migration
- Application integration and application programming interface (API) services
- Cloud-native application development
- Application testing and quality assurance (QA)
- Application support and managed services
If you need application transformation done right? Stop saying what needs to be done. Start saying how you want it done.
Enterprise Application Modernization Services
As digital disruption continues to gain momentum, having digital-first, enterprise-grade applications is no longer optional — it’s expected.
Application Services Use Cases For Banks
Financial institutions need to innovate faster than ever while balancing regulatory requirements, risk, performance, and security. Modern application services can help.
Digital Banking Applications
Business challenge: Old core banking systems were never built for agility or delightful digital experiences.
Application services use case: New-generation digital banking applications built using microservices, an API-first approach, and cloud-native technologies help speed up the delivery of new products and services, personalize the customer journey, and integrate with third-party fintech services.
Business benefits include:
- Consistent omnichannel experiences
- Quick digital onboarding (using digital KYC)
- 24×7 account services
Example: Replatforming the core banking suite to enable rapid delivery of mobile & web services without affecting performance.
Fraud Detection & Risk Management Applications
Business challenge: Rising transaction volumes and evolving fraud patterns.
Application services use case: Applying AI-based real-time analytics to the transaction processing application empowers banks to detect threats proactively.
Business benefits:
- Lower false positives
- Minimal monetary loss
- Better compliance
With application services, banks can seamlessly plug their analytic engines into existing applications.
Loan Origination Application
Business challenge: The approval process is too manual and time-consuming for customers.
Application services use case: Embed intelligent automation into application integration workflows that help improve speed, accuracy, and reduce human intervention.
Business benefits:
- Reduce loan turnaround time
- Reduce operational expense
- Higher customer NPS
Regulatory Reporting Application
Business challenge: Financial regulators require time-bound reporting and traceable audits.
Application services use case: Automate compliance and reporting across banking applications built with rule engines to maintain consistent compliance with evolving norms such as Basel III, PSD2, and AML rules.
Business benefits:
- Reduce risk of non-compliance
- Accelerate audit time
- Centralized compliance reporting
Application Services Use Cases For Healthcare Providers
Digitization of healthcare is here, and application services enable better patient care, data security, and system interoperability.
Modernization Of EHR Systems
Business challenge: Existing EHR systems lack performance, integration, and interoperability.
Application services use case: Migrate existing legacy systems to cloud, scalable and standards based (HL7-FHIR) EHR applications.
Business benefits:
- Improved physician experiences
- Decreased data silos
- Efficient patient care
Telehealth Applications
Business challenge: Rise in demand for virtual care and remote patient interaction.
Application services use case: Seamless integration of telehealth applications comprising of appointment scheduling, secure video calls, reviewing notes, remotely capturing vitals, and much more
Business benefits:
- Reach more patients
- Less travel time for patients
- Providers can see more patients
Healthcare Analytics Application
Business challenge: Healthcare data is abundant but barely tapped.
Application services use case: Application services aid integration of analytic dashboards and predictive models that can provide meaningful insights around patient care, population health, and hospital resource management.
Business benefits:
- Informed decision making at the clinical level
- Better resource management
- Decrease in patient readmission
Compliance and Data Security Application
Business challenge: Highly regulated industry (HIPAA) with rising cybersecurity attacks.
Application services use case: Embedding security and compliance considerations into application development using frameworks and automated testing helps with data encryption, audit logging, activity monitoring, and role-based access governance.
Business benefits:
- Mitigated risk of data breaches
- Consistent privacy and security measures
- Gain trust of patients and partners
Application Services Use Cases For Retailers
Retail is evolving — with digital experiences now a customer expectation and selling beyond the confines of a physical store mandatory.
Omnichannel Commerce Application
Business challenge: Disparate systems for web, mobile, in-store, and social selling.
Application services use case: An integrated commerce application provides a unified view of the catalog, promotions, availability, and checkout.
Business benefits:
- Increase conversions
- Improved customer retention
- Consistent data
Personalized Shopping Experience Application
Business challenge: Fail to offer tailored experiences to meet customer expectations.
Application services use case: Application integration services for retail applications enable retailers to embed customer data platforms (CDP), AI-powered recommendations, and behavioral analytics within the application experience.
Business benefits:
- Personalized recommendations
- Increased customer retention
- Increase in order value
Inventory Optimization Application
Business challenge: Siloed inventory management is causing overstock and out-of-stocks.
Application services use case: Real-time inventory-tracking application leveraging IoT, predictive analytics, and automated triggers to improve visibility and efficiency.
Business benefits:
- Minimize Out of Stocks
- Reduce inventory carrying cost
- Smarter ordering using forecasts
Mobile POS & Self Checkout Application
Business challenge: Long payment queues degrade the customer experience.
Application services use case: Building mobile POS and seamless self-checkout applications with easy payment integrations.
Business benefits:
- Quicker checkout
- Empower customers
- Increased processing
Business Application Transformation: Need Of The Hour
Business leaders across industries understand that business application transformation has gone from being a luxury to a necessity. Here are some ways application services are helping organizations transform their business applications.
Modernization of Legacy Applications
Modernization of applications using application development services involves breaking down monolithic applications into modules that interact through APIs. These services also help assemble legacy applications as microservices running in containers.
Transformation of Digital Customer Experiences
Customer experience transformation starts with building applications that customers have come to expect — responsive, personalized, and frictionless experiences across channels.
Transformation Of Operational Excellence
Operational excellence can be realized when applications are built using an agile DevOps methodology and when analytics, automation, AI, and business intelligence are embedded across applications.
Security And Compliance Transformation
Security and compliance also need to be baked into application design. Application services that specialize in security also help enforce it across the development lifecycle as part of a DevSecOps culture.
Application Services Solutions & Expertise at Hexaware
At Hexaware, we offer end-to-end application services that cover the application lifecycle. Our services include, but are not limited to:
- Enterprise application development
- Application development in the cloud
- Application integration and APIs
- Testing and quality engineering
- Application maintenance and support
Find out more about our application services here.
Success Stories: Industry Impact
- Banking: Reduced loan processing time by 50% with digital automation of loan origination
- Healthcare: Migrated on-prem EHR system to cloud platform, enabling better interoperability and lower IT cost
- Retail: Enabled omni-channel selling experience resulting in 30%+ increase in cross-channel sales.
Application Services Conclusion
As the use cases above demonstrate, application services are critical to digital transformation efforts. Industry-specific application services use cases have proven benefits, including operational efficiencies, enhanced customer experiences, reduced cost-to-serve, and improved compliance.
Application solutions help streamline business processes by breaking down data silos, enabling innovation, and reducing technical debt. Don’t leave your application transformation to chance. Partner with application services experts who have proven experience in helping clients transform. Partner with Hexaware —so you win.
