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Enterprise Architecture Tops List of Most Mature Best Practices
Avasant has released its major annual study on 35 IT management best practices, with enterprise architecture topping our list of most mature practices. This Research Byte highlights some of our findings on the most mature practices, along with an overview of the contents of the full study. The full study analyzes the growth and maturity of all 35 best practices, which are grouped into five major categories: IT governance, IT financial management, IT operational management, IT security and risk management, and application development.
March, 2023
Driving Innovation in Investment Avenues and Optimizing Costs
Despite a challenging business environment, financial services firms are investing in digital technologies to improve cost efficiency and capabilities. Digital assets have become an increasingly popular alternative investment avenue amongst the customers of private and wealth managers. Financial services firms are also allocating significant resources to cybersecurity measures due to growing cyber threats. Stringent financial regulations mandate ESG investment scrutiny to avoid greenwashing of the tagged investments. To address these issues, financial institutions are leveraging digital technologies to optimize operations, deliver efficient investment services, and enhance customer experience while mitigating risks. Both demand-side and supply-side trends are covered in our Financial Services Digital Services 2023–2024 Market Insights™ and Financial Services Digital Services 2023–2024 RadarView™, respectively.
May, 2023
Intelligent Automation Services: Intuitive Automation for Real-Time Decision-Making
Enterprises face challenges in extracting, organizing, and processing high volumes of unstructured data. However, the advancements in AI have significantly expanded the scope of automation by providing new capabilities such as deep learning and generative AI to automate complex, data-driven tasks with high accuracy. Cognitive bots can now process unstructured data, recognize patterns, and make more informed decisions regarding workflows previously considered too complex for automation. By leveraging automation technologies such as RPA, ML, process mining, and AI, organizations can unlock new levels of productivity, innovation, and growth for increasing customer satisfaction and revenue, and gaining a competitive advantage. These trends, and others, are covered in Avasant’s Intelligent Automation Services 2022–2023 RadarView™.
March, 2023
Boosting Banking Through Digitally Enabled Operations
The volatile macroeconomic environment and rising interest rates have put pressure on banks, impacting their liquidity and raising the cost of funding. Rising competition due to neobanks and fintechs that offer personalized products and add-on services have upended customer expectations. Stringent regulatory requirements are driving banks to revamp their processes and operations. Banks seek support from service providers to transform their operations, drive higher margins and process efficiency, and enhance customer experience. This has led to a 23% growth in banking process transformation revenue for service providers in the past 12 months. Both demand-side and supply-side trends are covered in our Banking Process Transformation 2023 Market Insights™ and Banking Process Transformation 2023 RadarView™, respectively.
May, 2023
Navigating Network Transformation with the Convergence of SD-WAN and Security
The adoption of managed SD-WAN services has steadily increased in the past couple of years across geographies and industries, driven by a rise in remote work. SD-WAN managed services outsourcing grew by about 40% from 2021 to 2022. Additionally, the enterprise need for network security, effective application, and user and policy optimization is driving joint SD-WAN and SASE implementations. However, businesses still face challenges, such as migration from existing legacy networks, vendor management, and lack of skilled resources, while implementing SD-WAN. These trends, and others, are covered in Avasant’s SD-WAN Managed Services 2022–2023 RadarView™.
March, 2023
Server Support Staffing Dips as IT Infrastructure Gets Easier to Administer
The demand for server support administrators has been on a downward trend for a decade. Virtualization, automation, DevOps, and the cloud have made IT infrastructure easier to administer. As a result, the IT infrastructure support burden is lessening, although there are factors also working in the other direction. This Research Byte examines the reasons for the trend and provides a summary of our full report on Server Support Staffing Ratios.
April, 2023
Two-Factor Authentication Again Ranks as Least-Mature Best Practice
Two-factor authentication (2FA) is a powerful way to improve IT security. But at the same time, workers—and even their managers—often resist it, because it creates an additional step to access systems. As a result, many organizations are inconsistent or informal in their practice of 2FA. This Research Byte highlights some of our findings on the least-mature practices, along with an overview of the contents of the full study on IT management best practices.
April, 2023
IT Outsourcing Surges Amidst Global Uncertainties
Organizations are accelerating their strategic plans in response to the continued economic uncertainty and social instability. In response, IT leaders expect to increase their outsourcing budgets this year, according to our new IT Outsourcing Statistics 2023 study. This Research Byte summarizes the factors behind the upward trend in IT outsourcing.
April, 2023
Artificial Intelligence a Major Focus of Empowering Beyond Summit
Generative AI has caught everyone’s imagination as ChatGPT became the fastest adopted technology in history. In light of this, artificial intelligence will be one of the focuses of Avasant’s Empowering Beyond Summit 2023 (EBS23), which will feature inspiring keynotes, interactive panels, innovative demos, and more.
April, 2023
Empowering Beyond Preview: The Virtuous Cycle of Sustainability and Innovation
Although the Industrial Revolution brought economic growth and lifted people out of poverty, it also came with a price to the environment. Pollution and climate change are creating challenges for enterprises. But with a bit of imagination and leadership, today’s digital technologies can solve this problem. This topic and many more will be discussed at the Empowering Beyond Summit.
April, 2023
Streamlining and Minimizing Vendor Management Complexity
The growing enterprise demand for multisourcing service integration (MSI) is mainly driven by complexities in multivendor environments and the need for optimizing IT costs and enhancing service outcomes and quality. Service providers offer multiple end-to-end services to help organizations streamline service delivery processes, enhance supplier management, mitigate risks, and improve vendor collaboration. Additionally, service providers invest in advanced technologies such as AI/ML, automation, and proprietary IT service management tools to optimize service delivery and improve overall outcomes. This rising demand for MSI has also led to a 46% increase in the number of full-time employees working in this field. Both demand-side and supply-side trends are covered in our Multisourcing Service Integration 2022–2023 Market Insights™ and Multisourcing Service Integration 2022–2023 RadarView™, respectively.
April, 2023
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
Best Practices in Adopting a Shared Services Model
In their endeavors to become high performing organizations, businesses are pushing all innovation frontiers to do more with less and achieve excellence even in these times of curtailed budgets. Shared services is one such definitive innovative model that many organizations have adopted to beat the ever growing challenges of seamless service delivery, consolidation of distributed accountabilities, progressive efficiency improvements, and fiscal pressures.
August, 2013
Applied AI Services: Building the AI Ecosystem for the Future
With advancements in the current AI landscape, enterprises are increasing their investments in new technologies such as generative AI, computer vision, and edge AI. Businesses across industries have realized the tremendous optimization opportunities AI brings and how it aids them in improving operational efficiency while ensuring sustainability. In addition, increasing regulation and compliance around AI systems and data use is helping companies use AI systems more ethically. Both demand- and supply-side trends are covered in Avasant’s Applied AI Services 2022–2023 Market Insights™ and Applied AI Services 2022–2023 RadarView™, respectively.
May, 2023
IT Spending Rising Despite Recession Fears
Despite most of our survey respondents agreeing that the economy will be worse in 2023 than in 2022, they also report IT spending increases that are broad and strong. How can this be? It is because business leaders no longer see IT as a cost center but as a strategic driver of growth. As a result, they are giving their IT departments greater resources to help plan for a possible coming recession rather than asking them to tighten their belts. This Research Byte summarizes the full study.
February, 2023