Process models are essential in guiding teams through the software development process. Initial process models, such as the waterfall model, offered clear and defined stages that must be completed sequentially before the next. However, they need to be more flexible and adaptable to the needs of businesses and their consumers. Newer process models are designed with versatility in mind, reflecting the ever-changing requirements of the software development industry to improve product speed and quality. The transition between process models can be complex and time-consuming, requiring careful coordination and training for many teams. Despite challenges, many groups recognize the benefits of newer process models that can help them respond to changing market demands. In this research, we conducted a systematic literature review (SLR) to find the current state of the process model transition. The Key concepts, challenges, and limitations are extracted from an SLR, and an empirical study is administered at Amazon and Experian. In the SLR, several factors for software process improvement are identified and further classified into seven categories. The responses are analyzed and compared with the current research literature to determine if the research literature properly covers real-world problems and challenges. Our findings show a disconnect between the current literature and realities experienced by process model practitioners and suggest areas for further research.