1.Increased Adoption of Robust HRMS Solutions
Human Resources is a vital part of any organization. Smart people decisions, effective management, and accurately measuring employee performance can positively impact your growth. So it’s no surprise the HR software market is expected to grow at a compound annual growth rate (CAGR) of 10.68% from 2022-2026 and is an SMB key digital transformation trend. But why now? It likely has to do with the increasingly popular trends of automation and data-driven decision making, which Human Resource Management System (HRMS) software applies. Here’s how these features benefit an organization:
- Automation: HRMS software can automate time-consuming and repetitive tasks, such as updating employee information, payroll processing, administering employee benefits, and much more. Applying automation in these areas reduces the workload of HR staff and improves overall operational efficiency.
- Data-driven decision-making: Data can help business leaders make decisions with more accuracy, producing better outcomes for their companies. HRMS software leverages data to optimize the recruitment process and track employee performance metrics. This can help HR staff make informed decisions about their recruitment strategy, employee promotions, and how to improve team performance.
2. Prioritization of the Digital Employee Experience
How to Create a Positive DEX
- Integrated Audiovisual (AV) solutions: Video conferencing tools like Microsoft Teams, Microsoft Teams Rooms, Zoom, and similar applications help remote staff communicate efficiently and stay connected to other team members and clients.
- All-laptop initiatives: To go along with integrated AV, many organizations now provide all employees with laptops instead of desktops. This reform can avoid the bring your own device (BYOD) security issues present in remote work environments (more on this soon) and free up staff to be more mobile.
- Learning Management Systems (LMS): This software can streamline employee training by providing online programs that onboard staff members, teach soft skills, and provide sales training. With a remote workforce, an LMS can systemize the training process across your entire company.
- HR tech: Tools such as HRMS, described earlier, put employees in the drivers’ seats of their HR needs. Without any help from an HR staff member, employees can request vacation time, track their performance, and view their benefit plans.
- Robotic Process Automation (RPA): This technology enables businesses to automate repetitive tasks by using bots. RPA can help with both mundane and complex tasks, from report generation and data entry to invoice processing and AI-powered customer support.
If you’re like many business leaders, you may feel overwhelmed by all the tools available. Which solution do you implement first? How will new technology integrate into your existing infrastructure? More and more businesses are using services like Leverage IT’s Navigate – IT Strategy and Consulting to guide them through the process. The benefits can be dramatic. With a long-term technology roadmap, your business can reap a greater ROI, meet your strategic goals, and improve operational efficiency.
3. Protection of Remote Work Environments and Zero Trust Security
Cybersecurity: A Deeper Dive into SMB Key Digital Transformation Trends 2023
4. Low-Code/No-Code Development Becomes the Norm
The Democratization of Development
5. Cloud Service Adoption Accelerates
Why Cloud Technology Is the Future of Business
6. The AI Revolution Lifts Off
7. More Businesses Will Leverage Managed Services and IT Service Firms
3 Reasons Why Managed Service and IT Service Firms Are Becoming Popular
- Lower operational costs: Managed services optimize technology, which equates to less downtime, improved operational efficiency, and higher staff productivity. The service also eliminates the need for an internal IT department and the technology training that comes along with it.
- Focused staff: If you decide to keep your IT department, managed services frees up the time of your internal staff, allowing them to focus on higher-value activities and strategy. Also, with less technology disruptions, your entire staff will benefit from an increased focus that allows them to complete their key business tasks more efficiently.
- Improved scalability: With an IT Service Firm or MSP, businesses no longer have to worry about hiring and firing IT staff as their technology needs fluctuate. Instead, your organization can scale technology easily, adding more services in times of need and reducing them when budgets are tight.
SMB Key Digital Transformation Trends 2023: Grow Your Business This Year and Beyond
What are the key pillars of digital transformation?
Digital transformation involves the integration of digital technology throughout an organization, resulting in a dramatic improvement in operational efficiency, agility, and speed. For organizations to succeed, they should adopt the following pillars:
- Clear strategy
- Culture of innovation and experimentation
- Adoption of technology
- Effective data management
- Improvement of the customer experience
- Streamlined internal operations
What are the phases of digital transformation?
While there are many stages of digital transformation, the main phases are planning, implementation, and optimization. In the planning stage, businesses set goals and objectives, assess their needs, and create a roadmap for digital transformation. Implementation follows, which involves the integration of the new technologies. The third and final stage is optimizing these technologies and leveraging them to scale.
What will be the fastest growing industries in 2023?
Industries that were either neglected, overwhelmed, or highly beneficial during the COVID-19 pandemic are set to grow rapidly in 2023. These include travel, ecommerce, shipping and delivery services, and healthcare. The cannabis industry is also expected to grow as more states legalize the drug. Lastly, the popularity of ChatGPT is a prominent signal of the AI industry’s rise, which is further evident by its exploding growth rate of 25.8% CAGR.
Do SMBs need to partner with technology experts to realize success with digital transformation initiatives?
If you don’t have expertise in technology, the chances of succeeding with digital transformation without support are low. Just as hiring HR, marketing, and accounting experts save a business time and money, technology experts can do the same for business owners who need help with digital transformation.