The pandemic has brought a lot of ambiguity with technology having to adapt in an incredibly compressed time and at a fast pace. Thanks to global vaccination and other measures, the pandemic is handled better today. However, uncertainty and risk profile in the markets has further inflated, due to unexpected geopolitical events. The following highlight the opportunities for technology companies through 2022.
The hybrid working environment to attract and motivate the workforce.
Attracting and retaining human resources has emerged to the top of the opportunities list in tech industry. Attracting the right talent has become challenging and as companies are slowly moving back to their office areas, employees are seeking for a hybrid working environment. The workforce is expecting flexibility related to where and when to work, as the pandemic has allowed employees to master (or at least try to master) remote working. Talent and Human Resource managers are faced with the challenges of embracing alternative employee experiences, since there are culture changes associated with hybrid models. It is therefore in employers’ hands to attract and keep the greatest talents with an interesting package of rewards, flexibility and experience blend.
Accuracy, speed and time. Interrelated aspects for improving performance and the increase of accuracy. Companies are reconsidering operational costs based on automated actions that can also help to improve decision-making without losing quality. Automation provides the opportunity for effectiveness and 2022 will see the continuation of tool deployment designed to speed up the processes. Hyperautomation is enabling scalability, remote operation and business model disruption.
Data and predictive analytics.
Digitalization denotes that we have enormous amounts of data available. Data has become the number one asset of every business. It is used to understand our clients, internal and external stakeholders, the key trends, and more. Data sources’ parameters can be analyzed to form predictions, providing a practical approach to improve organizational decisions.
Modern privacy laws are covering personal information on a global level. With GDPR being the first major legislation for consumer privacy, we are seeing others that are quickly following (e.g. Brazil’s General Personal Data Protection Law and California Consumer Privacy Act). It is estimated by 2024, organizations adopting a cybersecurity mesh architecture will greatly reduce the financial impact of security incidents. Organizations are also adopting cybersecurity committees which will focus on messaging on value, risk and cost. Notwithstanding this, it is understood that cybersecurity will be moving to organizational resilience to account for broader security environments as digital transformation is adding to the complexity of the threat landscape which will impact how products and services are offered.
Strengthening growth profile.
Tech industry executives are interested in how they can leverage their growth potential. With this in mind, the growth profile of tech companies in 2022 can be enhanced through strategic merger and acquisition actions. The appropriate strategies provide the opportunity to enhance the tech company portfolios with new solutions, technologies, distribution channels and end markets, thus resulting in company growth.
During the past couple of years we have noted growth acceleration in the technology sector. No doubt this will continue to evolve. Simultaneously, matters including cybersecurity and organizational resilience will become board level interests.
If you are seeking the right partner to help your company’s digitalization, contact us today to arrange an introduction.