Monitoring IT applications is a must, as transactions, which are made using your app portfolios, are the lifeblood of your business. User experience is one of the biggest factors that can make a company grow or shrink, since consumers today have increasing levels of expectations due to the continuous technological improvements happening in the IT world. Performance issues are inevitable, but using Application Performance Management (APM) will help you detect and solve problems before they affect your operations significantly.
Time is money. You cannot afford to have service downtime, resulting in business interruptions and revenue lost. According to a study from Enterprise Management Associates, 25 percent of companies surveyed reported downtime ranges in cost from $75,000 – $100,000. Another 29 percent added downtime cost them revenue loss between $750,000 and $1,500,000.
Poor response time
Application and website performance can affect the way your customer perceives and interacts with you. According to Scott Barner from Perf Test Plus Inc., potential customers and end-users expect a response time of less than five seconds. It means that if your applications or websites need more than five seconds to load completely, you will likely get a higher abandonment rate or disgruntled customers who may not come back.
Worse, most of them will not tell you about their experience, but just look for other options. According to the EMA study, only 12 percent of poor performance complaints comes from customers. You will not be aware of the performance issues until you see your competitor servicing and meeting with your former clients.
Companies are always looking to keep in step or stay ahead of their competitors. It is, therefore, necessary to consider the latest technology, but it may be smarter to take advantage of what you currently have. If you cannot afford to ditch your current application, it is crucial to look for ways to enhance your system. Otherwise, you run the risk of having a system that might soon be obsolete, compromising your business’ efficiency.
Prevention is Key
Instead of totally discarding your application portfolio, IT operations management tools will guide your staff suggestions on how to maximize the potential of each application. This strategy will help you save money while maintaining your customers loyal and happy. With the simple adoption of APM systems, your business would most definitely be a lot more stable, keeping your company ahead of the curve.