The Buzz Around the Boardroom
Whether you are the CEO, CFO, owner or any type of leader of business, 2022 was an interesting year for you. We watched the landscape of business begin to completely shift into a digital age. This shift is one that affects all departments in one way or another.
Technology implementations that center on automation remain a notable challenge for business leaders in 2023 and beyond. So what’s the buzz around the board room for the upcoming year? Advancements in digital capabilities and process automation. Most business leaders we talk to are reprioritizing some key areas of enterprise purpose and management focus.
Here are the hot button topics we are hearing about:
- Growth – impact of continued supply chain challenges, recession impeding growth by advancing digital transformation capabilities
- Technology – digitalization, automaton of manual processes
- Workforce Issues – The value employees place on remote work, talent retention, challenge of strategy change and restructuring
The Remote Takeover
In 2022, many business leaders embraced technology in bold new ways and found much success driving revenue growth while keeping their workforces connected remotely.
It was predicted that a quarter of all U.S. jobs would be remote in 2022. Data projections showed that 25 percent of all jobs in North America would be remote by the end of 2022. The transition to remote work is well underway.
Remote means closer analysis and automation of once-manual workflows is not only inevitable but necessary to continue to grow in an ever-evolving work from anywhere environment.
The Stats Speak for Themselves
A recent survey shows that only about one-third of finance tasks have been automated, although Accenture reveals that 80% can be. While a whopping 73% of a company’s data collected goes unused even though they have adopted Enterprise Resource Planning technology.
Furthermore, Gartner says that companies are losing billions of dollars each year as a result of 38% of enterprise software licenses being left unused. Up to 67 percent of installations waste certain applications. With statistics like that you don’t need any enemies. In fact
The good news is this sort of thing is avoidable. The adoption of process automation and proper implementation and management of your ERP can save your organization from countless hours of avoidable rework caused by human errors and manual processes.
Data-driven decisions will be the heartbeat of business for 2023. This means business leaders will need to address the challenges that legacy data will present. Unifying disparate data for analysis is a top concern for businesses across industries.
Last but not least – The Talent Shortage
As organizations seemingly cram a decade’s worth of digital transformation and tech adoption into a couple of years, the IT talent shortage is becoming more acute every day. Inevitably IT will be the driver of business this year.
IT staff and business technologists are some of the hardest employees to recruit and retain. Business leaders need to be agile in securing digital talent. Bringing in a technology partner can dramatically cut costs and provide a maximum ROI on your technology investments.
Gartner recommends reassessing:
Work models – Fundamentally rethink the way your organization leverages its people. Consider flexibility, location, hours, part vs full time, and in-house vs. outsourced.
Employee value proposition – Clarify your EVP so you are positioned to attract and retain the right digital talent.
Digital talent – Aggressively seek to secure the right digital talent needed to help you accelerate your digital plans. Snap up talent cut loose from digitally native companies that retrench.
IT takes a village. Enabling collaboration with peers both internal and external will enable you to recognize and balance diversity of need among groups, teams and employees, and adjust accordingly.
Start 2023 off right and begin to automate your manual processes. Right now we are offering a no risk 30-day free trial of AristaXpress. You can Learn more about AristaXpress by filling out the form below.