Boost ROI & Combat Soaring IT Budgets With Liferay

Times have changed, and so have how organizations conduct their operations. Digital transformation is the number one priority for companies. As part of the digital transformation initiative, businesses must embrace new technologies and incorporate remote work and cloud-based solutions. The COVID-19 pandemic is another significant catalyst for increased IT investments and costs.

Studies indicate that by 2028, 50% of companies will adopt and implement cloud solutions to enhance their business processes. Additionally, the global digital transformation spending is projected to reach USD 3.9 trillion by 2029. Besides digital transformation and cloud migration, other IT costs include cybersecurity, hardware and software, infrastructure maintenance, and support.
Liferay DXP can provide some respite against these mounting challenges.

IT costs will continue to rise in healthcare, finance, retail, government, and other sectors, especially digital transformation costs. By consolidating IT infrastructure, improving efficiency and productivity, plus providing the necessary flexibility and scalability for businesses to meet dynamic business needs, Liferay DXP can be a game changer for companies. This blog will focus on the eight crucial ways Liferay reduces IT costs for companies worldwide.

Top 8 Ways To Slash IT Costs with Liferay’s DXP

The global IT spending is projected to reach $5.26 billion by 2024. The bifurcation of this spending is as follows:

With the increasing need for integrations, technological advancements, cybersecurity threats, cloud adoption, and data growth, IT costs are bound to rise. It is challenging for companies to control many of these costs. However, they can control many costs by implementing the following measures.

• Hardware and Software
• Contract Negotiations
• Optimized Staffing
• Cloud Management
• Adopting Energy Efficient Practices

In this section, we will discuss the top 9 ways to reduce IT costs with Liferay DXP. Let’s get started.

1. Centralized Platform

• Liferay DXP is a centralized platform to store all kinds of content, including images, videos, text, and documents.
• Prevents accidental overwrites and ensures that content is up-to-date content with the version control feature.
• Streamlines content approval.
• Reduces the need for multiple systems, reducing complexity and overall costs.

2. Open-Source Flexibility

• Modular architecture enables companies to deploy only the necessary components. So, they pay for the selected features.
• Custom portal development to meet specific business requirements.
• Bespoke themes aligning with the company’s brand and design.
• Hooks within the Liferay DXP framework to modify/replace existing functionality.

3. Faster Product Time-to-Market

• Modular architecture enables the addition/removal of features, facilitating faster development and time-to-market.
• Drag-and-drop interface fosters quicker coding and web page customization.
• Extensive APIs allow developers to interact with several components of the platform.

4. Community Support

• Comprehensive documentation covers everything from installation configuration to advanced development.
• The community creates and shares valuable resources, including tutorials, blog posts, and code examples, facilitating learning new skills and troubleshooting issues.
• Forums and discussion groups facilitate effective collaboration, knowledge sharing, and problem-solving.
• Liferay support services include consulting, training, and maintenance, which maximizes Liferay investments.
• Besides faster time-to-market, Liferay fosters innovation, risk mitigation, and troubleshooting, which lowers costs.

5. Integrations

• Several pre-built connectors for popular systems help simplify integrations while minimizing configuration.
• Liferay supports standard protocols such as SOAP, REST, and JOBC, which ensures compatibility with multiple apps and systems.
• RESTful APIs allow developers to interact with Liferay’s components, such as content, users, and permissions, to facilitate seamless integration and custom apps.
• Supports GraphQL (flexible query language for APIs), allowing clients to request the desired data, reducing network overheads, and improving performance.
• Liferay creates custom services for integrations, which reduces development time while ensuring consistency.
• Web service network makes Liferay services accessible to external systems.

6. Scalability

• Liferay DXP allows for horizontal and vertical scalability. Horizontal scalability refers to adding more servers/nodes, while vertical scalability refers to upgrading the software/hardware.
• Besides allowing companies to adapt to changing market demands and customer preferences, scalability ensures greater efficiency, reliability, and growth.
• Companies can achieve scalability with Liferay DXP through containerization, cloud-based architecture, auto-scaling, load balancing, and other means.

7. Security

• Role-based access control allows companies to assign permissions to specific roles.
• Single sign-on allows users to access multiple apps with the same credentials.
• Multi-factor authentication adds a security layer where users can gain access through a smartphone or facial scan.
• Companies can enforce strong password policies to prevent unauthorized access.
• Other data protection measures include encryption, data masking, data retention, and deletion policies.
• Besides the above, Liferay DXP also conducts regular security updates. In contrast, automated tools conduct regular scanning to identify and mitigate risks. The web application firewall is an additional security layer.
• Lastly, Liferay DXP facilitates adequate compliance with GDPR, CCPA, and other policies. At the same time, audit trails provide valuable data for audits (government and other relevant bodies).

8. Support and Maintenance

• Liferay DXP’s support and maintenance cater to the needs of diverse organizations.
• The support plans come in different packages, including standard, premium, enterprise, self-service, professional, and others.
• Each plan has its pros and cons with varying costs.
• Companies can evaluate their budget and specific requirements to choose the best support plan.

9. Reduced Licensing Costs

• Liferay DXP’s open-source platform has no upfront costs for its functionalities.
• The vast Liferay DXP community bolsters its growth and feature set, significantly reducing development costs and, in turn, the licensing fees.
• The subscription-based licensing models ensure that users pay for the platform as long as they need. There is no compulsion to pay for it indefinitely.
• Liferay DXP’s modular architecture ensures that users pay for the features they need.
• Most importantly, Liferay DXP offers unparalleled scalability and flexibility, enabling companies to adapt to it without incurring high licensing costs.

8 Tips for Companies to Leverage Liferay DXP for Cutting Costs

Below are some solid tips to help you leverage Liferay DXP for reducing costs.

• Conduct a detailed assessment of the company’s needs, long-term goals, budget, and challenges. It will help decide if Liferay DXP is the best fit for the project/organization.
• Leverage the Liferay DXP community to access knowledge, best practices, and support.
• Monitor and optimize Liferay DXP performance to ensure optimal performance utilization.
• Reduce repetitive and manual processes through automation.
• Deploy Liferay DXP in the cloud to boost scalability and reduce infrastructure costs.
• Train employees adequately and provide them with the necessary resources to leverage Liferay DXP to the fullest.
• Update Liferay DXP regularly to avail of the latest patches and updates. It will boost the security and performance of the platform.
• Monitor and measure Liferay DXP’s impact on the overall IT costs and efficiency.

Future of Liferay DXP and its Transformative Potential

Liferay’s capabilities are constantly evolving. We cannot accurately predict how it will shape the future of companies. However, some trends look promising and could potentially change digital experiences.

AI and ML Integration

Experts predict that Liferay will incorporate AI and ML in its platform to provide tailored content, improve search functionality, and automate tasks.

Enhanced Omnichannel Experiences

Liferay’s focus will be on providing seamless and uniform experiences across multiple channels, including websites, apps, social media channels, and devices.

Focus on Data Privacy and Security

Implementation of solid security measures will ensure adequate compliance with data protection and privacy regulations.

Integration Capabilities

Effective integration of Liferay DXP with technologies like blockchain, AR/VR, and edge computing will result in innovative products and services.

Final Thoughts

Liferay DXP is a significant investment for enterprises, but the benefits far outweigh the costs. Its scalability, flexibility, and robust integration capabilities help companies cut costs considerably. However, companies must understand that cost reduction is not the only benefit of Liferay DXP. When properly implemented, Liferay DXP can be a formidable weapon for digital transformation.

It enhances user experience with its intuitive interface, responsive design, and personalized user experience. Other benefits include increased business efficiency, greater flexibility and scalability, and improved security. These innovative features in Liferay DXP enable companies to achieve their business goals and unlock new opportunities for growth and expansion.

Regardless of Liferay DXP’s features and impressive capabilities, implementing and leveraging it entirely can be challenging for companies. This is where expert Liferay development companies like Tridhya Tech come into the picture.

If you’re an organization that wants to hire a Liferay development company, look no further. Tridhya Tech is an IT firm with over 5+ years of experience. Over the years, we have completed thousands of projects for local and international clients. With over 500+ loyal clients and an extensive developer pool of 600+ experts, we have the expertise and knowledge to accomplish the most challenging projects.

Hire us for your next Liferay DXP project. Call us at +1 386 597 1231 or email us at [email protected]. Schedule a consultation today.