Digital transformation trends in 2023 will not be the same as the previous years. There are several changes. And the changes are not just limited to COVID recovery, although COVID still remains a risk. The major risks in 2023 would be inflation, geopolitical instability, and the supply chain imbalances caused by the war.
And these macroeconomic trends are going to drive digital transformation strategies for the companies. In general, the companies are not going to have as much cash to plan. With public companies, investors are trying to pull out their cash and keep it in safe heavens. The startups are not going to receive as much funding and will be starved of cash. Collectively, this is going to have an impact on most companies. And they are likely to be conservative with their digital transformation investments.
The private equity companies are trying to buy cash-starved assets while trying to consolidate them. In addition to removing any overlaps and finding synergies. This is going to have an impact on how your current software might be supported. So you might need to plan around that. Then there are also going to be companies that can no longer afford the large bills from enterprise software providers. And the operational capacity they had assumed a few years back is no longer true. So they are going to downgrade their systems. And this will drive the sales of some of the cloud-native and mid-market applications.
So if you have aspirations of digital transformation in your organization, you might want to tailor your pitch to cost-focused strategies. Show your CFOs how your initiatives might help them save cash in the short-term. Demonstrate how these strategies might result into reducing the CapEx costs and how some of this spend might be translated to OpEx. You also need to make sure you are providing a comprehensive analysis of all risks involved. For example, if you are pitching for any risky initiatives such as headless commerce, that might require a little bit more scrutiny as it’s hard to demonstrate the ROI of initiatives that might be perceived as technical.
So what are the factors that you need to watch as you plan for your digital transformation budget for 2023? What are the key risks that you might expect because of the changing landscape of enterprise software? How to ensure that your proposal will not be shot down because they might be perceived as financially risky.
We have interviewed over 200 executives to compile this list, along with the data points from our internal engagements.
-------------------------------
Resources and Links
Blog: Top 15 Digital Transformation Trends In 2023
[ Ссылка ]
Download our 2023 digital transformation report:
[ Ссылка ]
Download our ERP Selection Requirements Matrix:
[ Ссылка ]
Download ERP Systems Scorecard Sheet:
[ Ссылка ]
Insights on ElevatIQ:
[ Ссылка ]
WBSRocks Podcast:
[ Ссылка ]
-------------------------------------
If you have any questions or comments about the digital transformation trends or how to take advantage of them in 2023, don’t hesitate to leave a comment on this video or drop us a line at hello@elevatiq.com.
-------------------------------
Find me:
LinkedIn: [ Ссылка ]
Twitter: [ Ссылка ]
Listen and subscribe:
🎧 Apple: [ Ссылка ]
🎧 Spotify: [ Ссылка ]
🎧 Google: [ Ссылка ]
-------------------------------------
#digitalTransformation #ERP #eCommerce
