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IT Spending Trends in High-Tech 2024
IT spending in the high-tech industry is surging, driven by the need for innovation and the adoption of AI, cloud computing, and automation. These investments aim to enhance operational efficiency and give companies a competitive edge. However, they also present challenges such as cybersecurity threats, data management complexities, and legacy system integration. How then are high-tech organizations prioritizing their spending? This report examines current IT spending trends, insights from our benchmarking survey, and the implications for the industry's future, concluding with the role of IT in fostering innovation and maintaining competitiveness in the high-tech sector.
August, 2024
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Supply Chain Disruptions Disrupt SCM Investments
Global supply chain disruptions are disrupting supply chain management (SCM) investments. Unable to keep up with the pace of change, SCM systems have the lowest satisfaction rating of all the technologies in our study. This Research Byte provides a look at the customer satisfaction rating for SCM systems, as well as an overview of our Technology Trends 2023.
May, 2023
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Media and Entertainment Digital Services: Leveraging Digital Technology to Drive Innovation and Bolster Customer Experience
To adapt to evolving customer demands, media and entertainment (M&E) firms are investing in digital technologies to provide personalized and immersive content to users and enhance the customer experience. In addition, regulatory requirements and customer preference for climate-conscious firms are compelling M&E enterprises to embrace ESG as a fundamental way of doing business. As a result, M&E companies are utilizing emerging technologies to offer low-latency immersive content and enhance customer experience while mitigating churn. Both demand- and supply-side trends are covered in Avasant’s Media and Entertainment Digital Services 2023–2024 Market Insights™ and Media and Entertainment Digital Services 2023–2024 RadarView™, respectively.
June, 2023
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Digital Workplace Services: Driving Organization Agility and Innovation in the Era of Hybrid Work
The hybrid workplace has made significant strides since its inception in 2020, with the 2–3-day work-from-home model being widely accepted. Enterprises are dedicated to enhancing employee experience through outcome-based engagements with service providers and experience-level agreements (XLAs) by leveraging emerging technologies such as AI/ML, analytics, IoT, and automation; creating new possibilities in the workplace; and fostering increased collaboration, productivity, and employee satisfaction. These trends, among others, are covered in Avasant’s Digital Workplace Services 2023 RadarView™ and Digital Workplace Services 2023 Market Insights™.
August, 2023
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CRM Necessary but Hard to Manage
CRM systems are one of the most widely adopted categories of enterprise applications. Modern CRM systems are essential for companies looking to improve their productivity and effectiveness in sales, marketing, and customer service. However, investing in a new CRM system can be a messy business. At the core, a CRM system needs to interact with data across the entire business. Business processes should change to match the new capabilities, and people need to be trained on the new system. Hidden or unexpected costs can quickly add up, and missteps can result in a major setback, or worse, project failure. This Research Byte summarizes our full report on CRM Adoption Trends and Customer Experience.
October, 2023
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Application Management Outsourcing Booming Despite SaaS
As the application portfolio of an enterprise grows, the ongoing support for those systems can become a burden on the IT organization, leaving little time for developing and implementing new applications. In response, some organizations see outsourcing application management as an attractive option. Although SaaS and the cloud have taken over many application management responsibilities, businesses continue to outsource this function. This Research Byte explores this trend, based on our full report, Application Management Outsourcing Trends and Customer Experience.
December, 2023
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VR/AR Adoption Low, For Now
Businesses are in the early stages of adopting virtual reality and augmented reality (VR/AR) solutions. While widespread adoption of VR/AR has not yet fully materialized, businesses are actively experimenting with these technologies. However, the ROI and TCO are favorable for early adopters. This Research Byte summarizes our full report, Virtual and Augmented Reality Adoption Trends and Customer Experience.
February, 2024
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Hybrid Enterprise Cloud Services: Gen AI and Industry-specific Cloud Solutions Drive Next Wave of Growth
As businesses delve into the possibilities that generative AI presents, cloud migration, data modernization, security, and privacy take center stage as crucial priorities. Service providers are directing investments toward integrating generative AI with traditional automation methodologies to enhance productivity within IT operations. This integration aims to reinforce hybrid cloud systems, ensuring they remain robust, secure, and sustainable. Both demand-side and supply-side trends are covered in Avasant’s Hybrid Enterprise Cloud Services 2023–2024 Market Insights™ and Hybrid Enterprise Cloud Services 2023–2024 RadarView™, respectively.
February, 2024
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Network Managed Services: Optimizing Network Operations Effectively
Enterprises encounter several challenges in managing their network infrastructure, such as scalability issues, security vulnerabilities, and resource limitations. In today’s dynamic digital environment, it is crucial for businesses to overcome these challenges to adapt to evolving demands and remain competitive and resilient. This requires comprehensive assessments, strategic planning, and tailored technology implementation. Furthermore, effective network monitoring, maintenance, and troubleshooting are vital to ensuring seamless operations and minimizing downtime. Additionally, service providers are helping enterprises with proactive security measures, compliance adherence, and efficient resource utilization, empowering enterprises to focus on core objectives while effectively managing network complexities.
April, 2024
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Deloitte’s Global Restructuring – Streamlining for the Future
Deloitte’s decision to undertake its most significant restructuring in a decade reflects the challenges faced by major consultancy firms amid an expected market slowdown. The goal of the restructuring is to reduce the number of Deloitte’s primary business units from five to four, streamlining its operations. The largest Big Four professional services firm is planning to reorganize its global structure and streamline its advisory businesses to reduce the organizational complexity and free up more partners to work with clients, driven by the need to cut costs and simplify operations amid anticipated market challenges.
May, 2024
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Incorporating Technology Levers and Digital Expertise to Meet Evolving Supply Chain Needs
The supply chain landscape is undergoing a transformative shift, propelled by the convergence of pandemic-induced disruptions, shipping challenges, geopolitical instabilities, and inflationary pressures. Traditionally linear and siloed supply chain operations, from sourcing and procurement to manufacturing, distribution, and disposition, are now being reimagined. Digitalization is the linchpin in this evolution, streamlining decision-making and optimizing processes to mitigate costs. Where cost-minimization in sourcing and distribution once reigned, the focus has pivoted to resilience, adaptability, and visibility have become critical priorities in navigating the complexities of today’s supply chain dynamics.
June, 2024
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Intelligent Process Mining Platforms: Delivering Intuitive Business Intelligence and Process Transparency
The emergence of generative AI has transformed the landscape of process mining. Platform providers have expanded their capabilities to extract unstructured data from enterprise environments and deliver insights through natural language queries. Enterprises are increasingly prioritizing rapid process optimization with personalized recommendations. Moreover, they utilize what-if scenario simulations and digital twin technology to forecast and evaluate business impacts early. To capitalize on market opportunities, platform providers are augmenting process mining offerings through product enhancements, strategic partnerships, and acquisitions.
July, 2024
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Unleashing the Potential of Your Technology Training Investment: 5 Strategies for a Seamless Implementation
Investing in cutting-edge technology is only half the battle. Without proper training, even the most advanced solutions can fall short of their potential. Implementing new technology affects an organization’s people, culture, and workflows. To maximize these investments, developing effective training programs is crucial. Tailored training based on roles and responsibilities builds confidence and reduces resistance to change. This leads to several key benefits such as enhanced user competence and confidence, optimal technology utilization, reduced errors and downtime, and high user adoption. These benefits translate to cost savings, higher return on investment, improved employee satisfaction and retention, and better compliance and security, reducing legal risks. Understanding these critical benefits sets the foundation for maximizing technology investments.
July, 2024
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Driving Employee Experience and Productivity by Leveraging AI and Analytics
Enterprises are increasingly adopting emerging technologies like AI and analytics to enhance employee experience, boost productivity, and improve collaboration between remote and in-office workers. They are leveraging generative AI to deploy chatbots for quicker ticket resolution, multilingual support, personalized messaging, faster data retrieval, and rapid detection of security threats. Organizations prefer partnering with service providers that offer proprietary tools and platforms for service desks, virtualization services, unified communication collaboration, and employee experience to accelerate deployment and streamline operations.
September, 2024
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Market Insights on Strategy Consulting and Big Four: An Analysis of Trends, Revenue, Growth, and Partnerships
This report traces the key business trends among the Big Four and Strategy Consulting firms during the pre-pandemic and post-pandemic periods (FY 2018 to FY 2023) to understand the revenue, head count, and business segment growth within these firms. It also looks at the changing ratios, such as revenue per employee, revenue per partner, and key leadership changes in different sectors. The report also explores in detail the strategic partnerships of different firms by geography, partnerships across different business service lines (ITO, BPO, and Digital), and key technologies in the past 12-18 months to evaluate how these firms are making attempts to focus on growth in the current times. Finally, the report highlights some key developments on the technology front by looking at the progress made in the generative AI (Gen AI) space by some of these organizations to improve their business capabilities and expedite overall growth.
April, 2024
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