Businesses must take a proactive approach to monitor the latest digital transformation trends. The market is constantly evolving and these trends can help businesses run more efficiently. This leads to optimal agility and a competitive edge.
With the looming spectre of recession and tightening budgets, is your digital transformation strategy fit for what’s to come in 2023? Here are the emerging trends that look set to continue through the next twelve months.
Embedding Digital in Your Corporate DNA
Digital transformation often comes down to people rather than the underlying technologies. The focus should be on how you respond to risk and opportunity. Resistance to change is a common obstacle to true digital transformation. Going deep to embed digital into your corporation is likely to be a key trend in 2023.
A chief technology officer can be a real asset if you want to truly embrace digital adoption. This hiring mindset can be one piece of the puzzle, and investing in upgrading digital competencies is another. This needs to happen at scale – think digital and data teams and reskilling top management. You need to think about the way you retrain your workforce from a broad perspective – it sounds daunting but can be a game changer.
Practising Good Digital Hygiene
Things like sustainability, cybersecurity, risk management and resilience are key considerations in 2023. Unfortunately, they are also often afterthoughts when it comes to implementing new digital solutions. Include them from the outset to build lasting digital solutions.
These uncertain times are increasing the importance of agility. In 2023, the most competitive companies will be the ones that do the groundwork for creating disaster recovery plans and developing robust data governance policies.
You should also embrace ESG and sustainability to keep pace in 2023. It’s important to customers and it can save you money in the long run. Digital hygiene is likely to be a very prominent consideration in 2023 so undertake testing for things like technical debt, quality, performance and speed as well as energy efficiency.
Using Automation To Do More With Less
Automation will be one of the key elements of digital transformation in 2023. With business automation, organisations have a powerful resource to remove the need for human execution of various internal procedures. They can be completed faster, with many benefits in the short- to medium-term:
- Potential for increased productivity.
- A greatly enhanced customer experience.
- Digitised operations.
Of course, there will be a learning curve to get more automation off the ground.
More than 80% of corporate leaders say they are accelerating the transition towards increased process automation. The use of remote labour is supplementing this. To accelerate automation efficiently, you need the most appropriate business process automation tools. This can help in producing faster outcomes with less requirement for advanced coding skills.
One big step towards greater automation is implementing Enterprise Resource Planning (ERP) software. Once out of reach for smaller businesses, ERP is now widely available and affordable thanks to cloud ERP vendors like NetSuite, who offer ERP software as Software-as-a-Service (SaaS) making it more accessible than more traditional on-premise solutions.
The transformative nature of automation and its rapid advancement means it is sure to be a key trend for digital transformation in 2023.
Digital Sustainability
We have already mentioned the importance of sustainability. The growing climate emergency is shedding a light on the urgent need for action and sustainability has emerged as a hot topic all around the world.
The countries producing the most carbon emissions have the biggest responsibility for making changes. But businesses can make an important contribution to help the cause. Organisations are introducing all manner of green initiatives and it is being recognised by consumers whose growing concern about the environment is fuelling purchasing decisions.
A key aspect of the sustainability trend is an increasing reliance on technology over other, less sustainable practices. In 2023, it is likely that more organisations will work to drive sustainability by implementing composable enterprise strategies. This means breaking down tech stacks into smaller components and packaged business capabilities (PBCs). This will also enable the unlocking and integration of data and applications with new opportunities to apply automation and derive insights from analytics.
The importance of sustainability in general means that it is sure to be a key trend in digital transformation for 2023.
From the Cloud to Anything-as-a-Service (XaaS)
XaaS is an emerging business model that is growing in popularity. It stands for Anything as a Service and it is an approach to providing software for customers on demand. Essentially, it is an extension of the well-known SaaS (Software as a Service) model. This exists to provide access to applications over the internet through the use of cloud computing.
The XaaS model extends this to provide access to a wide range of services from a single provider. This includes infrastructure, data storage and processing power as well as software.
Amazon Web Services is a good example of an XaaS company. It provides cloud computing services to its customer base. This increased utility will only be regarded as an advantage in the context of expanding digital transformation. As such, its adoption is likely to increase through 2023 as it emerges as another important trend.
Blockchain
Though it has been around for several years, blockchain is an emerging and disrupting technology. It has the potential to reinvent industries like healthcare, finance, supply chain management and more. The ways we have been doing business for years in many sectors could be completely rewritten as blockchain grows in popularity. The enabling of smart contracts and permanent record storage with no risk of tampering is revolutionary for the digital world.
Software suppliers are in search of ever-more secure environments to prevent the leak of sensitive information. As such, blockchain is regarded as a crucial element of the digital world of the future. Its adoption is continuing to gain momentum and it cannot be ignored as an important trend for digital transformation in 2023.
Final Thoughts
The biggest digital transformation trends in 2023 are likely to relate to early employee buy-in and engagement. Agile methodologies, effective training and a focus on effective usage of technology are fundamental to digital advancement in 2023. Organisations must pay close attention to these trends in order to be at the top of their game in the coming year.
It’s clear that some of the newest and most radical digital transformation trends are out of reach for small businesses, but that doesn’t mean they can’t take some digital transformation baby steps in 2023! To find put more about the benefits of digital transformation, please read our article 6 Ways Digital Transformation Can Boost Your Business.
Why choose Eventura for your digital transformation journey?
Eventura have been helping businesses in their digital transformation journey for two decades. From the implementation of industry-leading ERP solutions such as Sage 200 and NetSuite, to helping them move their entire operations to the cloud and away from costly and restrictive on-premise solutions.
As well as being NetSuite Solution Providers, Sage 200 Partners and Microsoft Gold Partners, we also offer a wide range of managed IT services, meaning we can take your business as a whole and help it achieve digital transformation.
If you would like to speak to one of our experts, you can request a free call back here.
