Europe is already facing a huge challenge of modernising thousands of IT systems. So-called “legacy systems”, i.e., old generation systems, are often complex and difficult to manage and pose security risks against cyberattacks. The complexity and high financial cost of replacing them lead many organisations to continue using them. It is estimated that around 80% of the budget in the IT industry is currently spent on its operation and maintenance.
“Too many businesses and European organisations remain captive to outdated digital systems. At Feniks AI, we combine the latest technologies with more than 25 years of experience in complex digital transformation projects. It was designed as a tool to untether from cumbersome digital systems – a critical step to remain competitive and innovative and support the creation of a modern, sustainable Europe,” commented André Rogaczewski, CEO and co-founder of Netcompany.
Christian and CEO of the company and CEO of the company, Mr. André Andréczaczewski.
Feniks AI significantly speeds up the entire process required to replace a legacy system: from capturing and analyzing the functionality of the existing system, to the design and implementation of the new one. It is estimated that Feniks AI saves 30% of the total time required to modernize a system, compared to the time that traditional approaches would require. The solution has already been used in three major digital transformation projects in Denmark, confirming these impressive results.
Mr. Alexander Manos, CEO Netcompany South and East Europe & European Institutions (SEE & EUI), said, “The modernization of legacy systems in sectors such as, for example, banking, insurance, telecommunications, as well as central administration systems, is of strategic importance for the resilience of the economy and the development of our country. Harnessing AI is not just an opportunity – it is a catalyst for a sustainable, digital future for the benefit of all citizens. Feniks AI is an innovative tool with which public and private organizations can dramatically accelerate their digital transformation, reducing costs, enhancing security, and making real solutions that truly meet the needs of modern society.”
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