The Importance of Application LifeCycle Management in Business

Life-Cycle Management in Business

Today, businesses of all sizes and ventures have been using technology as much as possible in order to improve their productivity and better their business approach and most importantly, sustain themselves in such a competitive market.  When it comes to the realm of software, then speed is of the essence and this has been realized by every company out there.

Some of the most thriving companies in the market whether fintech (Finance+ Technology) based organizations like Metro loans or e-commerce whose business entirely depends on their software performance deploy software regularly. Well, doing this is far more difficult than it may look and in order to achieve this level of efficiency and productivity for your business, you need to come up with an impeccable strategy where you will have to manage your software development task from the very start to its retirement.

Well, this is where Application lifecycle management comes into play. Mostly popular with its acronym, ALM basically helps the business in better managing their software give them enough room to implement a strategy that can be used to manage the software more efficiently. Now, before we jump to the part where ALM benefits business, let us first understand about it in a more detailed way.

What exactly is Application lifecycle management?

In simple and plain words, ALM is the process of managing the life of a software product from the stage when it’s only in the concept to the phase of its retirement. Application Lifecycle management has some relevancy to Software development lifecycle but is more vast than SDLC as it only involves the stage of development. On the other hand, ALM consists of governance, development, maintenance, and even the retirement stage of the software.

Further, ALM will fall under two categories depending on the process that you choose for the software development. Otherwise, just like DevOps, it can also be integrated into a consistent delivery process. In the most basic level, ALM is broken down into three major components i.e. governance, development and operations.

What’s the difference between the ALM and other software management approach?

Well, there is quite a difference between ALM and other software management approach. Generally, the traditional software management technique is applied in between the stage of planning to the implementation.  Well, other methodologies stop at the very moment after the operations get started whereas things are quite different with ALM as it focuses on the bigger picture where it checks the daily routine of the product up to its deployment.

This help immensely in providing a more precise and accurate data in operational and management task of an application until it is declared completed from the project management side.  ALM is also used to determine the entire lifespan of an application to the very last day of the retirement of the applications. Well, this is indeed the most effective and elaborative approach to determine the value of the applications and the resources utilised over time. 

What are the benefits of ALM?

  • It provides a better and guided direction

One of the biggest benefits of ALM is that it helps in providing a proper direction to the app even when it is on the designing phase. Due to this, the organisations can create a more effective business case, utilise their resources in an efficient way and determine the lifespan of the application before the development stage has begun. Overall, it ensures minimum mistakes during the application process that helps tremendously in saving lots of time and money for the organisation.

  • It gives speed and agility to the application process

Well, in this competitive market where speed is of the essence, being slow and tardy is not going to help you sustain.  ALM basically gives the development team momentum and agility that is very much needed in order to maintain the lead in this market. Overall, it provides a platform of an integrated system which gives much more efficient result than the use of unconnected tools and different processes across multiple teams. Integration reduces the communication gap between the other teams and this way the application is designed by keeping the software objectives and business goals sidewise.

  • Help in making better decisions

ALM come uses multiple enhanced tools during the operation. Other than that, it is also packed with some incredible features like version control and real-time planning that helps the team in developing the applications quickly and also pin down the future of the app. These help a lot when the company is involved in the project of multiple applications development. Thus, making ALM a lot more useful than any other software management approach out there in the market.

The future of ALM

With a plethora of benefits that ALM provides, it has become the key element of the organisations that are into the software developing business. Not only it helps in providing the right direction but also helps in making the development process more agile and productive. Well, by seeing the current scenario it can be easily deduced that Application lifecycle management is going to play a far more important role in then now in the future.

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