5 Technologies That Are Changing the Modern Enterprise

Business leaders are constantly looking to keep up with the pace of change and prepare themselves for market, technology, and customer upheavals in the years ahead. The pressure is on them to drive up operational efficiencies, improve customer experience, and always remain future-ready. To add to the size of the task, it’s becoming imperative to execute plans at an ever-accelerating pace to stay ahead of the competition. The modern enterprise is also still dealing with the after-effects of the pandemic as the growing prevalence of new terms like Hybrid Workplaces and The Great Resignation define a highly dynamic “new normal” that is complex, fluid, and unfamiliar.

It’s fair to say that navigating the complexities of the modern world and forecasting tectonic shifts are becoming overwhelming tasks.

However, this can be eased by staying up to date with the latest technologies that are changing the modern enterprise. Here’s looking at 5 such technologies:

Data analytics:

As data becomes the lifeblood of organizations, analyzing it efficiently and continuously is the only way for businesses to drive greater revenue, results, and efficiency. Among the top technologies that are changing the modern enterprise, data analytics is aiding businesses in better understanding customer sentiment, improving business process efficiency, and boosting bottom-line results.

Custom modelling and deep visualization provide best-in-class business insight to decision-makers, delivering the ultimate competitive advantage. By helping organizations understand the current state of affairs, analytics is helping in translating business problems into appropriate analytical solutions via useful insights, thus helping them define (and accordingly carve out) a route to the desired future state.

RPA and automation:

In today’s digital era, responding to ambient market forces is critical to survival; but manual efforts often take up a lot of time and effort, causing organizations to score poorly on the business agility matrix. RPA and other automation technologies enable organizations to eliminate error-prone and mundane business processes and augment the human way of working.

By creating a similar digital environment across different use cases, the technology helps automate repetitive, but defined and data-heavy tasks and save substantial time and money. Such automation can help in increasing scalability and flexibility, eventually leading to improved customer experiences and better return on investment. It can also reduce errors and improve productivity and efficiency.

Low-code/no-code development:

As business users get increasingly tech-obsessed, they want to be able to make important decisions on their own. Another powerful technology that is transforming modern enterprises is low-code/no-code development.

The technology is allowing everyday users to build specific solutions on their own, without having to load their development teams. Point-and-click or drag-and-drop menu interfaces means users can design and implement their individual or departmental systems – in just a few hours – without any programming skills. With the skill gap constantly widening, low-code/no-code development is helping organizations expand the number of people who can build software applications within a business – and meet more effortlessly meet business objectives. This is helping them become more responsive and drive out more relevance in their activities.

Cloud:

With changing market dynamics and evolving competition, cloud adoption is at an all-time high; according to reports, the global cloud computing market size is expected to grow from $445.3 billion in 2021 to $947.3 billion by 2026, at a CAGR of 16.3% during the forecast period.

The technology has the capability to cut operational costs while increasing the productivity of the workforce and ROI for the business – thus accelerating enterprise digital transformations. In the wake of the large-scale move to remote working, the cloud also improved access to enterprise data, systems, tools, and workflows. In addition, the cloud is helping businesses respond to changing market conditions with agility and flexibility, drive quicker and deeper insight from burgeoning amounts of data, and achieve sustainability and governance objectives with far greater ease.

Microservices:

With the demand for highly sophisticated user experiences increasing, microservices is enabling organizations to keep up with evolving customer journeys, emerging technology trends, and the demands of the modern digital world.

Using microservices, software development teams can build enterprise apps that are more adaptable to new requirements, while allowing bad or buggy code to be refactored and disputed design decisions to be revisited. By allowing features and new updates to be integrated in a quick and efficient manner, microservices is allowing organizations to offer engaging enterprise applications and consistent digital experiences across every touchpoint – thus helping them generate new growth opportunities and revenue streams.

Technology trends like data analytics, RPA, low-code/no-code development, cloud, and microservices are changing the way people think, communicate, and work. The innovation that will be delivered by these technologies has the potential to cause a paradigm shift in how businesses operate and how they serve (and service) customers. Adopting these technological advancements is critical for organizations to keep pace with the constant shifts, act on risks, and make innovation central to their organizational culture. Get in touch with us if you need help crafting an effective strategy that folds in the best of each of these powerful technology approaches to deliver the maximum impact for your specific business needs.