Today, the Internet of Things and Cloud technology govern business operations across industry verticals, no matter which sector they belong to. With the rapidly changing demands of customer 2.0, focusing on operational excellence also requires you to establish a healthy workflow. While the old ways are starting to show how they cannot keep up with the evolving state of global business, it is now time to fully invest in an immersive digital transformation strategy that can help your enterprise stay relevant and efficient.
If you’re looking for ways to stand a league apart from your competitors, the best way is to look up the digital transformation trends of 2022 and catch up with what seems to be missing from your strategy. This blog will help you cover all the bases, so let’s get started!
Federating Digital Teams and Platforms by Democratizing Innovations
In the last decade, digital transformation initiatives have been doubling down on Cloud tech, big data, and DevOps. Businesses are largely trying to centralize the three functionalities with modalities like centers of excellence. Companies are now required to incorporate these capabilities for process acceleration and scaling various transformation endeavors, bringing them a step nearer to their value streams as well as buyer product groups.
How can this be achieved? An organization can adopt team topologies that can assist in structuring groups into stream-aligned, platform, or enablement teams. A successful expansion of digital innovation requires these teams’ to set up technological architectures that can mirror the quality of federation such as micro-front ends, data mesh, and cloud landing zones.
Pursuing Organizational Agility
With companies vying to improve their deliveries to multiple parties involved (a.k.a the customer, developer, and employee experience respectively) whilst democratizing innovation, adopting Agile and DevOps principles are imperative.
On the journey to becoming more customer-centric and maintaining a direct line of sight of the consumer base, business leaders and managers can attain higher visibility. This requires the company’s teams to reconsider their team topologies and hierarchical structures to shift towards mature product teams and value streams. This change can help organizations use the best aspects of DevOps, Agile, and product-centric reflection to help bring about a digital transformation beyond technological territories.
Establishing a Digital Fintech Core
Today, the basics of digital transformations revolve beyond the operational aspect of an organization. If you wish to provide digital products and services in accordance with the company’s product and consumer customer experience (CX) strategy, every business, irrespective of the industry vertical requires a digital fintech core to help underpin its operations.
This digital fintech core should be able to:
- Manage heaps of customer data effectively
- Handle customer authorization and authentication
- Provide exceptional omnichannel client operations
- Embark on a data, cloud-native, and APIs-first strategy in the context of product building and development.
- Providing an excellent developer experience as well as a portal to bring more efficiency to workflows and help teams extend on existing services, products, and data sets.
Companies who can successfully establish this core can experience benefits like:
- Providing a seamlessly connected digital customer journey
- Deliver multi-channel secured services to clients
- Help accelerate the go-to marketplace and roll out compelling products for their consumer base by allowing digital native startups to work with existing incumbents.
- Make way for dynamic innovations across the organizational environment by letting partners and clients alike use their APIs to create their own platforms and integrations, thus helping in rapid scaling.
Establishing Cloud as the Digital Principle of Transformation
Organizations are no longer debating the function and role of the cloud ecosystem in their operational strategies. Today, several market leaders have actively expressed their opinions through data-backed thought leadership concerning the pivotal role that the cloud. This also goes as far as to talk about how focusing on the could aspect can underpin the digital foundation that every company will require to extend its capability to offer products, services, and experiences digitally. At the same time, these modalities need to show they are continually scaling without putting the security or reliability factors on the back burner.
The Growth of Multi-Cloud Adoption
Businesses are going to be more open to adopting multiple-cloud providers since it is already a prominent practice in the industry Albeit there is a key aspect that separates a successful multi-cloud adoption from a poorly implemented one: It depends on the way companies manage and use these cloud providers for multiple purposes.
An example of a successful venture would be implementing a multi-cloud control plane that can help democratize the consumption of these providers. Such a platform should be able to facilitate cloud providers to manage and govern their usage while facilitating the internal development and product units to utilize the correct platform for better workflows.
Understanding these trends in 2022 will not only help your business make the most of the remaining financial year but also gear up for the year to come. The year 2023 will have digital transformation growth and trends that succeed the present ones, helping leaders anticipate these changes and be future-ready rather than follow suit. By taking up the help of industry experts to establish your digital transformation, you can usher in the era of enterprise efficiency across the board.
About Artha Solutions
Artha Solutions is a premier business and technology consulting firm providing insights and expertise in both business strategy and technical implementations. Artha brings forward thinking and innovation to a new level with years of technical and industry expertise and complete transparency. Artha has a proven track record working with SMB (small to medium businesses) to Fortune 500 enterprises turning their business and technology challenges into business value.