According to one aspect of the invention, a software transformation system is provided that may include a business asset extraction sub-system. The business asset extraction sub-system is typically configured to analyze a legacy computer application and create a mechanical fabric representing computer-implemented operations of the legacy computer application, and to create a semantic model representing operator-perceived meanings attached to interactions with the legacy application. The business asset extraction sub-system is further typically configured to create links between related portions of the mechanical fabric and the semantic model. The mechanical fabric comprises a network of nodes and associations between nodes, the nodes and associations representing one or more system interface objects, computer programs, and data access points, and a physical data model configured to store data records utilized by the legacy computer application.