8 DIGITAL TRANSFORMATION TRENDS FOR ENTERPRISES(#1)

Giang Hoàng

05/05/2023

1670

From the perspective of enterprises, digital transformation is the integration of digital solutions into operations by creating processes towards the goal of optimizing business management, increasing profits and gaining many new development opportunities for the company.

Global digital transformation trends

As predicted by IDC Research Inc., the total worldwide investment in digital transformation technologies will reach 7 trillion USD by 2023. The sharp increase in budget shows that digital transformation remains as a development strategy in every industry. This process is happening not only in large corporations, but even SMEs are not left out of the game.

When enterprises focus on globalization, being ahead and adapting to digital transformation is an inevitable trend to develop and assert its position. Accompanying leading enterprises in the digital transformation process, CMC Consulting is able to determine that, for successful digital transformation, enterprises need to: building implementation strategies corresponding to the development speed of technology as well as suitable with the field, industry and internal resources.

The following are digital transformation trends in strategic planning that have been successfully developed all over the world recently:

1. Use comprehensive business management software

 Business management software (commonly known by the name ERP - Enterprise Resource Planning) is a multi-module  application system software, integrated with an overall architecture of all activities in the enterprise. Business management solutions include not only management software, but also other features that help businesses automate key management processes, such as financial analysis, purchasing and sales management, production planning, accounting, logistics or customer relationship management, etc.

Nowadays, a lot of business management software is being provided and used, but most of them only provide discrete features, covering one aspect, while the problems of organizations and enterprises are often complicated. Enterprises have to use multiple softwares at the same time, leading to high cost of integration, deployment and even more complex processes than before effectuating digital transformation. 13 apps/30 times/day is the average number of times an employee has to use to get the job done (Report from Asana), it can be seen that the common overload of work-flow is unresolved decisively. This leads to delays and inefficiencies in data processing and resource control, which then becomes a barrier in digital transformation for businesses, especially for high work-volume industries such as Manufacturing.

Using ERP business management software is currently an irreversible trend for many businesses to solve the immediate problems, meet the needs of optimal business resources, increase customers, profits in a sustainable way.

 

CMC Consulting activates the official operation of SAP ERP system for DOJI Gold & Gems Group

Among the business management softwares used by many corporations these days, SAP ERP is top-tier for its flexibility and comprehensively integrated data systems for businesses. Besides providing full features of enterprise resource management (ERP), applications including customer relationship management (CRM), finance (FICO), human resource management (HxM), product flow and supply chain management,... SAP also provides integrated softwares, customized to needs and scale, easy to apply across industries, for all organizational structures of the enterprises.

 

2. Focus on cost optimization with transformation

 The year 2023 is predicted to be a year with many difficulties for businesses due to inflationary pressures on the momentum of the economic downturn and difficulties in the supply chain. Facing these challenges, many businesses tend to change their strategies from expanding to optimizing operations and saving resources.

In a VentureBeat report, 90% of technology corporations leaders  recognize the cost-effective benefits of digital transformation, most of the budget will be allocated for this purpose in 2023.

Investing in the suitable technologies for effective digital transformation is the top priority of every business. Currently, some enterprises are aiming to apply automation and systematization into operational processes. By using ERP management software to optimize costs. It is forecasted that 60% of enterprises applying this new operating trend will outperform their competitors by 80% in speed of implementing digital transformation in the competitive race.(Gartner, 2023)

 

3. Integrate a comprehensive experience (Total Experience - TX ) 

Total Experience is a strategy that integrates Employee Experience (EX), Customer Experience (CX), User Experience (UX), and Multi-experience (MX)  across multiple touchpoints to deliver a comprehensive business plan.

Mulesoft predicts that 2023 will be the year when businesses will see a surge in investment in Total Experience, focusing on both customers and employees. Business leaders consider customers as the center and employees as the first points of contact between Business - Customers, so employees also need more elevated experience. The enterprises’ efforts in building a strong brand need the consensus and coordination of the members formed from the interaction between employees and organization throughout the working process. Therefore, building a comprehensive experience strategy is the foundation for creating effective business activities.


Total Experience Trends

To be able to manage and track the customer, user, and HR experience data visually and holistically, businesses need to integrate a comprehensive management strategy which covers all departments to make the right decisions, reduce opportunity costs and develop sustainably.

 

4. Everything as a Service (XaaS) Trends

XaaS is a business model for diverse solutions that combine hardware, software, and services. Before the advent of XaaS and cloud computing, organizations and businesses often had to buy and install licensed software packages to set up their networks such as: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), Communication as a Service (CaaS) and Network as a Service (NaaS),... The integration of many softwares at the same time may cause loss or duplication of information because the data is not aggregated or systematized, leading to a decrease in the efficiency of business and administration activities.

 

XaaS integrates cloud computing

Xaas is an extension of the above softwares, providing access to all types of services from one provider, including data infrastructure, storage, and processing power. XaaS model gives corporations and businesses extreme flexibility and scalability using the cloud. For these reasons, XaaS is currently the popular choice of the leading businesses and corporations. An example of a company that has successfully adopted the XaaS model is AWS, which provides cloud storage and computing services to their customers.

Digital transformation is a potential development opportunity but also awaits many challenges. The capture of trends, understanding the capability and needs of the organization is essential for enterprises to come up with a strategy properly, and prepare the right resources for digital transformation. Or choose a companion unit to consult - implement Digital Transformation solutions with multi-disciplinary experience, reputation and responsibility.

With a team of experienced experts in consulting comprehensive digital transformation strategy for domestic and international enterprises, CMC Consulting is so far the leading partner to help enterprises plan and implement the right SAP ERP solution according to their business needs by standardizing processes, improving business performance to make a breakthrough on the journey of sustainable development.

Above are 4 prominent digital transformation strategy trends that are expected to bring many positive values to business operations in the near future. Hopefully with the useful information that CMC Consulting has compiled, readers will have more multi-dimensional perspectives and knowledge about technology and innovation!

(To be continued)

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