Trends impacting Midsize Companies for 2020

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  • Rethink Business Models

    Innovative operational, business and organizational models will be required to improve competitive advantage and customer experience. Experience-centric models will engage data, automation [RPA] and Artificial Intelligence [AI] to sense what the customer needs; it will then provide timely and the right experience for the customer. To effectively do this, businesses must use the right tools, skillsets and build effective technology partnerships.

  • Go Digital – Digital initiatives

    IDC predicts that by 2023, 50% of midsize companies will consider digital transactions and communication critical to their business. The right investment in technology and skillsets will improve productivity, efficiency, innovation. It is important to align your digital transformation initiatives to the long term business goals.

  • Engage Platform technologies to scale up faster

    Platforms make it easy for companies to use technology resources strategically and cost-effectively. This enables quick scaling up of businesses. Managing individual applications and one-time-use skillset is no longer preferred.  As per IDC, more than 25% of midsize companies will use platform technologies to speed up digitization, using service providers, integrators to augment in-house resources and capabilities.

  • Utilize Data to adapt and transform your business

    Are you able to engage historical data from your ERP, internal systems and real-time data from any extended systems [mobile, wearables and the like]? This data enables you to cull out intelligence, which can transform critical areas of your business including customer service, product development, sales and marketing. To have an effective Artificial Intelligence[AI] and Robotic Process Automation [RPA] engagement, ensure that the underlying data from ERP, CRM Solutions , other systems is timely and accurate.

  • Empower staff with Data and technology

    Future workspaces will be more collaborative – people and machines working side by side, bots automating repetitive tasks, remote workers, flexible workspaces and new contracting models. Required skillsets will be lacking. 40% of companies will use Robotic Process Automation [RPA] and/or Artificial Intelligence [AI] technologies to compensate in the short term.

  • Do contingency planning

    Identify uncertainties and risks that can impact your business. Risks include the use of outdated technologies, trade wars, supply chain disruption and the like. Mitigate these risks, utilizing data from your internal ERP, other systems and external data. 

Sources:
  1. Source: IDC FutureScape: Worldwide SMB 2020 Predictions
  2. Source: IDC’s 2019 SMB Survey in U.S., Brazil, UK, Germany, India, China and Japan (n = 2,100)
  3. Source: IDC’s 2019 SMB Survey in U.S. (n=820), IDC FutureScape: Worldwide SMB 2020 Predictions
  4. Source: IDC FutureScape: Worldwide SMB 2020 Predictions
  5. Source: IDC FutureScape: Worldwide SMB 2020 Predictions
  6. Source: IDC FutureScape: Worldwide Intelligent ERP 2020 Predictions