The latest report Enterprise Business Priorities and Business Plans, 2018 by Coeus Age Consulting reveals six predictions for 2018. All put together these predictions shall define the emphasis enterprise leaders are putting on #businessgrowth and #digital.
1. Catching up on the missed growth #catchingupongrowth
Business growth in 2017 was below expectations. The top priority for enterprises in 2018 is to monetize the innovations and catch up on the missed opportunities. They are also preparing their organization to be more efficient and productive as the new business paradigm expect just that from them.
2. Converging core IT and digital #convergingcoreITwithdigital
Though digital technologies remain the top priority, enterprises have also clearly stated their intentions of creating a new technology platform by overhauling the core IT and digital. http://thewoodlandretreat.com/karma-kitchen-cafe/ 25-30% enterprises are planning to build a converged digital platform that is well integrated across vertical layers and horizontal domains.
3. Beginning of the second digital wave #secondwaveofdigital
Enterprises are willing to explore the new wave of digital (IoT, AI/ ML, Bots) after the first SMAC wave becomes mainstream. This new wave has started evolving with around semicircularly 60% of enterprises planning to focus in 2018 (may be in small flirting ways). The core IT needs to gear up further to become ready for a bigger play in the data economy.
4. Broad-basing digital to multiple process domains #goingbroadwithdigital
Enterprises are taking digital to multiple process domains of the organization. Though customer engagement has been the top focus, other domains of workplace, IT optimization, management dashboards, and operations streamlining are also gaining focus. Interestingly, supply chain integration has been lagging behind.
5. Going deep by invoking multiple pillars #goingdeepwithdigital
On one hand enterprises enterprise plan to take digital broader to more process domain, on the other hand they are planning to adopt multiple digital technologies (both waves) for the process domains. They plan to go deeper into the chosen process domains by invoking multiple pillars of digital.
6. IT spend growth momentum to revive back #ITspendrevival
After an aberration in 2017, the momentum of IT spend growth shall continue in 2018. The structural reforms initiated in 2016-17 shall stabilize unleashing their impact on the business environment and IT spend. The spend on IT is estimated to grow by Sumbawa Besar 11.6%. That on digital shall also see traction with 1 out of every 4 dollars of IT spend to go on digital technologies in the enterprise and government space.
A detailed analysis is contained in the recently released report by Coeus Age Consulting.
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Table of Contents
Business priority, 2017 and 2018
IT priority, 2017 and 2018
Technology focus, 2017 and 2018
Stage of evolution of digital adoption, 2014 till 2018
Process domain focus, 2016-17 and 2018
Technology focus by process domain, 2016-17 and 2018
Overall Domestic IT Spend, 2013- 2018
Spend on Digital by Enterprise and Government, 2013-2018
Summing it up