2021 was a year of unprecedented disruption due to the global pandemic. Businesses and enterprises have to grapple with the lockdowns, the possible infection, the economic slowdown and new frameworks involving operational functions between on-premise and off-premise. 2021 also proved how resilient businesses are due to the readily available technology has been adopted by businesses in order to maintain business continuity despite the challenges. We have seen on-premise work transform into virtual and on-premise working teams as a hybrid model. This is a model that will further dictate how enterprises will function given how the world will be more agile and responsive to future pandemics.
While enterprise technology may have not fulfilled every business requirement, the core platform have proven to be resilient enough to operate despite the challenges. Moving forward, enterprise technology will continue to evolve basing on the times and this will prompt business leaders to invest resources in order to upgrade or revamp the existing enterprise technology that is currently employed:
- Cloud Integration – The cloud has been indispensable in the virtual and remote workgroup setting. In the post pandemic world, cloud-based software and workgroups will continue to migrate their architecture and modular functions to the cloud to enable greater collaboration that leads to better efficiency. A cloud infrastructure is resilient, flexible and enables remote collaboration on various working groups while still maintaining a tight control on quality and security despite the numerous permissions handed to each member. As enterprise software are becoming dated due to them being standalone, cloud providers and cloud infrastructure presents an efficient foundation to take businesses into the new age of IT.
- Fintech – Finance and technology is the concept of fintech. The integration of fintech modules such as online payments, online banking and online finance processes into the enterprise IT or ERP will help enterprises generate new value propositions and cash flow outlets. As traditional commerce weakened during the pandemic, the most successful businesses or merchants have enabled online payment transactions, cross payments and digital payments to be processed to generate new income methods. By augmenting fintech into the entry of the financial cycle, it can bridge the gap between the practice of software-based bookkeeping and accounting, therefore augmenting our financial handling capacity and making it more efficient.
- Connected Enterprise technology – The concept of a standalone enterprise technology is becoming dated, much like mainframe servers. Enterprise IT and platforms will be powered by Virtual Machines that allow permissioned expansion and duplication as they get rolled out to regions. These permissioned access are both open ended and unprecedented as enterprise IT is moving to a platform where it will be a platform where other nascent technologies will converge:
to enable broad, niche-specific or specialized services to be deployed by partners or other providers in the form of:
- Software as a Service
- Data collection
- Systems integration
Unlike the previous enterprise IT platforms, today’s ERP is a platform where technologies converge: accounting, manufacturing, sales, security, knowledgebase and customer service where modulal interoperability leads to a greater collection of workgroups being able to work together in an efficient manner.
- Integration of Nascent Technology – The frontier technology such as Blockchain and Automation will undeniably reshape enterprise technology in the coming years and not just in 2020 as the industry is moving to the fourth industrial revolution where smart systems integration meet smart industrial machinery. With Blockchain, we are able to reimagine traditional processes and transform them into a continuous stream of data that cannot be altered or misconfigured to suit personal interests on monopoly. Instead, we can reimagine data processing and verification points without the traditional human actor that are required to complete transactions. Business leaders are asking themselves how this technology enables optimal business efficiency. Industrial leaders have begun work to revolutionize industrial processes such as manufacturing, finance, trade and logistics. In the years to come, Blockchain enabled business systems will be a norm.
DynaQuest is an award-winning Blockchain outsourcing integration solutions provider as the company specializes in the transformation of IT structures and digital transformation of the business. For inquiries, contact DynaQuest today.