Advancing From Digitization to Data Insights
The pandemic has accelerated the need for digitization to achieve growth in every market segment. With paper-based workflows reducing overall workforce productivity, enterprises are leveraging cognitive technologies to streamline document processing across various departments. Platform providers are moving beyond traditional optical character recognition-based data extraction to generate new insights from complex, unstructured data. These trends, and others, are covered in our Intelligent Document Processing Platforms 2021 RadarView.
Business Agility And Resilience Drive Demand For Risk And Compliance Services
COVID-19 has emphasized the need for regulatory compliance, internal compliance controls, and the use of security frameworks and tools. Meanwhile, the regulatory environment is increasingly complex, particularly for multinational companies, as they struggle to comply with sometimes conflicting regulations across regions. Risks have changed with a growing cloud environment and increasingly diverse IT service portfolio. The need for a strong governance, risk, and compliance (GRC) partner has grown. These emerging trends are covered in Avasant’s Risk and Compliance Services 2020-2021 RadarView™ report.
SAP S/4 HANA and Service Providers Unlocking New Business Processes with Analytics
Enterprises are adopting SAP S/4HANA to exploit new sources of revenue and streamline processes with the help of its big data and analytics capabilities. To respond more effectively to volatility in supply and demand, enterprises leverage SAP S/4HANA to improve visibility over business processes. Faster implementation cycles with the use of preconfigured solutions, fewer customizations, and agile development have gained traction, as enterprises are looking for faster time-to-value from their investment in SAP S/4HANA.
Compliance Requirements Driving the Move to Government Clouds
The dramatic shift towards smart cities and a new digital economy is increasing the need for governments to upgrade their IT infrastructure. Cloud environments are the best way to ensure government systems are highly available and data is securely accessible. But until recently, cloud was not always an option for government entities due to strict compliance requirements. Now providers are catering to this need by setting up government clouds—sovereign data centers to employ local workers in the countries they intend to serve.
Personalized Customer Experience Driving the Evolution of CRM Services
Cloud-based CRM suites are seeing increased adoption due to the ability to personalize the customer experience. These new capabilities are driving a 30% increase in CRM implementation services this year including CRM architecture, design, and managed services.
Consumers Increasingly Shifting To Digital Content
Digital content is growing exponentially as a result of the proliferation of smart devices and evolving customer preferences. Moreover, the use of digital technologies such as cloud, artificial intelligence (AI), and analytics is playing a critical role in providing personalized services to customers. Digital transformation is now an imperative for media & entertainment organizations not only to remain competitive but for their survival and growth.
Covid Accelerates Digital Disruption And Innovative Business Models In The Insurance Sector
Changing risk landscapes and worsening loss ratios are shifting the role of insurance companies from risk mitigation to risk prevention. Additionally, the pandemic has put new pressures on business models. Newer risks, evolving customer expectations, and increased competition combined with business continuity challenges have made digital transformation a top priority for insurance carriers. Insurance companies are significantly investing in building digital capabilities to optimize core operations, create nontraditional products, and enhance and personalize the customer experience. These trends are covered in Avasant’s new Insurance Digital Services 2021-2022 RadarView™ report.
Hybrid Cloud: Centerpiece To It Modernization
Cloud has progressed from the simple migration of infrastructure and applications to a tool which improves application performance and achieves cost optimization. Hybrid cloud, in particular, is an enabler of business transformation. Hybrid cloud allows enterprises, especially in highly regulated industries, to satisfy on-premises requirements and leverage hyperscaler services from their own data centers. These emerging trends are covered in Avasant’s Hybrid Enterprise Cloud Services 2020 RadarView™ report. The report is a comprehensive study of industry-wide adoption of hybrid cloud services, including the current landscape, impact of COVID-19, enterprise recommendations, and a close look at the leaders, innovators, disruptors, and challengers in this market.
Blockchain Starting To Show Business Value
Over the past 12 months, blockchain has moved beyond the hype as companies have realized business value from select use cases. Even though overall blockchain adoption has slowed down, the number of production-grade implementations has doubled, showing that blockchain is gaining a new level of maturity. These emerging trends are covered in Avasant’s Blockchain Services 2020 RadarView™ report. The report is a comprehensive study of blockchain services, including top trends, analysis, recommendations, and a close look at the leaders, innovators, disruptors, and challengers in this market.
Rich Functionality, Expanded Marketplaces, Boosting Adoption of CRM Suites
The CRM market is changing. Today most CRM suite vendors are offering modular sales, customer service, and marketing functions, enabling organizations to pick solutions that are best tailored to meet their needs. They are also expanding their offerings with plug-and-play apps, which enables enterprises to customize and extend the functionality of CRM suites. Finally, an array of ready-to-use connectors is enabling easy integration. These factors have boosted adoption of CRM suites, which saw a 13% growth rate in 2020. These and other trends are explored in our new Customer Relationship Management Suites 2020 RadarView™ report.