Efficiency and growth are at the heart of many a business plans right now, even though an economic downturn is widely predicted to be on the horizon.
In the face of these organizational pressures, Salesforce’s MuleSoft recently released a report detailing their predictions and insights for digital transformation in 2023. In the report, they outlined seven trends that are going to be crucial for organizations that want to overcome these pressures while keeping the gas on customer and employee experiences.
As MuleSoft Global Field CTO Matt McLarty explained, “as companies gear up for the year ahead, businesses must recognize that effectively utilizing new digital techniques is the only way to ensure growth amidst economic pressures.”
“Investing in cost efficient, employee- and customer-centric technologies will be critical for companies seeking to remain agile and break away from the competition in 2023.”
Here are MuleSoft’s seven digital transformation trends-to-watch:
Increase in automation investment
MuleSoft’s research has validated what many in the industry have already predicted regarding the projected growth of automation tools. According to a previous survey, roughly 80% of organizations plan on incorporating hyperautomation into their technology roadmap within the next 24 months. This points to a paradigm shift in the way businesses operate, as they move away from reliance on manual processes to a more digitized and technology-enabled future.
Composability is key
MuleSoft and Salesforce predict that in lieu of the point mentioned above, companies will be inclined to implement strategies like low/no-code platforms and application programming interfaces (APIs) to make their automation efforts more composable.
The rise of low/no-code tools
The report from September found that 73% of leaders agree that acquiring IT talent is the hardest it’s ever been, which makes perfect sense given the global shortage of software developers. In order to free up resources and enable a wider range of employees to participate in digital transformation, low/no-code platforms will continue to grow in popularity.
Investment In total experience (TX) strategies
Amid findings that 86% of IT leaders believe that both employee and customer experience (EX and CX) are as important as a company’s products, MuleSoft’s research anticipates that organizations will increase their focus on delivering great experiences through loyalty and advocacy.
CX and EX initiatives will work in tandem to increase revenue and retain talent, focusing on integration and automation that connect the dots where these two meet.
Data-Driven Decision Making Should Be Technology’s Job
Salesforce research highlights that 83% of organizations consider data-driven decisions to be a top priority in their organization. This data, however, is often siloed. As a result, MuleSoft predicts, 2023 will see the rise of real-time analytics to bread down silos, to “create a data fabric that provides automated, intelligent, and real-time insights and reduces untimely decisions.”
Cybersecurity Is Set to Scale
Expect to see more organizations invest in a cybersecurity mesh approach in order to secure data as it moves between multiple cloud applications. This is in response to data from Gartner that claims doing so could reduce the financial impact of security incidents by 90%.
Sustainability Will Be a Priority
Organizations are likely to increase their adoption of data-driven insights and integration across supply chains as they seek to become more sustainable.
