Enterprise Technology Trends for 2023
Every October, Gartner gathers eminent CIOs, industry leaders and emerging tech whizzes to forecast the coming year’s enterprise technology trends. It is an inquisitive, informed predictor of the future with the input of the industry navigators. This year there was a huge focus on Digital Immune System, Industry Cloud Platforms, Superapps, and the Metaverse, to name a few.
From Olive’s Perspective, innovations in the enterprise technology domain have played a pivotal role in transforming business processes. Enterprise software solutions today are packaged with various capabilities and integrated apps that make the use of these solutions easy. In an attempt to strengthen their market share, vendors are continuously presenting new features to provide best value for organizations.
Some of the most recent technological trends we have observed focus on Cloud Computing, Business Intelligence, and digital agility, among others. Here are Olive’s top trends surrounding enterprise technology solutions.
7 Enterprise Technology Trends Impacting Organizations in 2023
1. The End of “Traditional” ERP (Enterprise Resource Planning)?
Finance applications and microservices will challenge Traditional ERP
ERP will be put to the test by finance applications and microservices. Big vendors like Oracle and SAP will need to be nimble to avoid becoming roadkill on the highway of change, in order to keep up with companies who embrace digital transformation and now expect much more than what a “traditional” can deliver. ERP vendors have already adopted digital technologies like automation, blockchain, and cognitive tools into their products—but that won’t stop competitors from competing. As new players enter the ERP space with specialized applications and microservices that sit on top of—and integrate with—ERP platforms, anticipate a change in the landscape. Adopting Cloud-based ERP will help companies stay ahead. Deloitte states;
Finance is entering a golden age of technology. As cloud becomes the norm for ERP, finance applications and microservices will proliferate. You’ll be able to drastically reduce the complexity and cost of technology, without sacrificing functionality.
2. Leveraging Business Intelligence
Companies and industries that employ Business Intelligence Software are now seeing the suite of capabilities it provides. Our clients and the overall industries understand the power of consumer insight and putting it to use. The expectation is data collected from the combination of physical and digital sources will be used to influence consumer behavior.
The phenomenon known as the ‘Internet of Behaviors’ considers, the insight offered by consumers through their interaction with, the internet. Preferences, dislikes and purchasing behavior begin to form an idea of the individual, which was depicted in ‘The Social Dilemma’. As the realistic next step, marketers and businesses are tailoring campaigns to factors that predictably cause a reaction in consumers.
Image From BMC Blogs
Take the Sesame Street example. In the 60s, Joan Cooney developed the series aimed at being an educational TV show for children. She meticulously studied what characters, story lines, imagery and dialogue captured the attention of the children the longest. Refining her understanding of what engaged the audience best; Cooney tailored every episode to maximize impact and attention capture. Effectively, the rest of us are playing catch up to Sesame Street.
3. Business and Personal Privacy Improvement
2020 successfully drove the necessity of internet usage deeper into personal and professional lives. Whether it had merely been used for e-mail connectivity or sending files, digital engagement permeated almost everyone’s lives as their communal space, professionally and even socially.
As an extension that we now almost live through, digital privacy became a more pressing thought for several reasons. Zoom meeting hacking stories circulated wildly. The safety of private data forced ByteDance’s TikTok into a merger with Oracle who provides digital security services for the US Department of Defence. Even the legality of contact tracing apps has come into question.
Overlooking privacy matters and data hacks by the general population is fading into the past. With the adoption of more digital devices and services, our technological sophistication levels have rapidly risen. The prediction explains that the market will demand more robust and visible efforts to maintain security over privacy matters. Questionable entities will be rejected and data breaches will garner a much more radical response.
4. Work Anywhere, Live Anywhere
Remote work was more than just a 2020 fad; it was an entire sea change. It has abruptly dawned on employees and employers alike that commuting and co-locating for work could be a thing of the past.
At the surface level, it is more convenient and comfortable to work 2 metres from your bedroom. With any depth of thought, it can change your entire life from where you live, how you afford to live, and how many extra personal hours a week you have.
The subtle benefit of various lockdown and simplification measures encouraged introspection. People can remain employed remotely but live closer to ailing parents or in more affordable neighborhoods. Colocation is not necessary for many. In turn, it has generated a work-from-anywhere movement.
The momentum of the movement forces the employer to streamline and digitize processes in a far more efficient manner. Software demands will increase as the need for effective solutions is cemented. Thankfully, Olive has been delivering enterprise technology solutions in line with these transitions for several years. Finance and time efiniency, informed decision making, employee engagement and customer satisfaction have all resulted for our clients seeking to improve their tech stacks.
5. Digital Transformation Agility
As you progress through the list, you have undoubtedly gathered that the Pandemic’s impact will continue reverberating around the tech industry for quite some time. It will likely be the junction between eras of technology adoption.
Remote work is merely one permanently impacted angle, but perhaps the biggest industrial lesson learned is the importance of having company agility and composability. In an interesting shift, many SMEs were quicker to pivot and absorb market shares than larger organizations. Larger corporations needed more time to mobilize their solutions.
Now, with an economic hangover and recession rumours swirling, the answer for many will lie in shifting to lean digital transformation. This will mean building adaptive technology into your business that is prepared to change swiftly. Essentially, companies are structuring resilience by expecting constant change and enacting solutions that provide data quickly enough to enable an agile digital transformation.
6. Embracing the Distributed Cloud
The new working environment has simply and aggressively reinforced the inevitable shift to distributed cloud systems. Previously, two clear worlds might have existed in the general use of technology – those who had traditionally used simple in-house tech to develop materials individually and those who opted for shared collaborative models allowing more than one user access. This may be an over-simplification for exaggerative effect, but 2023 will, without question, see more distributed cloud users than 2022. This is one significant enterprise technology trend to look into.
The need for cloud services to be available in multiple physical locations provides the foundation for the work movement from anywhere. A distributed cloud releases many of the co-location shackles. Furthermore, it drastically reduces the latency between client requests and responses. Even if co-locating in a shared office space resumes, the distributed cloud will continue to prove its superiority.
7. Automating Systems
A large swathe of technology-adapting businesses arrived in 2022 with various solutions for different issues experienced. Each has a purpose, but rarely are they clean, integrated software fully compatible with others. 2023 will likely see this cumbersome annoyance rebuilt for streamlined and cohesive simplicity.
AI wasn’t only a half-decent movie with the kid from the 6th sense; it is part and parcel of the future. Hyper-automation refers to using software and AI to augment what we are capable of in an efficient fashion. Our ability to apply our BIS to multiple facets of our industry will enhance our information gathering and decision-making far beyond what is capable of traditional methods.
Imagine the effectiveness of marketing with real-time insights into customer activities. Imagine the full alignment of the buyer journey from supplier to buyer. Hyper-automation posits that anything that can be automated should provide the most optimized and effective form of your business.
Investigating the predictors of enterprise tech trends for 2023 yielded that huge jumps in the industry’s value chains are coming. The prevailing tech solutions will likely enhance the experience of employees, employers, and consumers. Those who are quickest to adapt will likely reap the most benefit. The perks will range from the heights of market share capturing to the tangible individual elements of cost reduction, time-saving, customer experience improvements, marketing effectiveness, and more.
Find Best-fit Enterprise Technology Solutions with Olive
Olive has stolen a march on most preparing for these enterprise technology trends since 2018. The foreseeable future includes further steps into embracing cloud, AI, re, mote, and Business Intelligence Software solutions. Whether you see the potential for significant digital transformation or minor adaptations, Olive’s platform provides the agility to facilitate your desired transition and find enterprsie technology that drives digital transformation.