In just a few months, the world economy we knew was radically transformed, as a number of different factors, such as accelerating globalization, the requirement of employees for a more flexible working environment and, of course, the coronavirus pandemic, together created a “Perfect storm“.
“It is difficult to estimate, at the moment, the economic impact of this crisis. It is evident, however, that the cessation of air traffic, supply chain disruptions and forced resettlement of labor in so many countries will have an impact on production, consumption and economic growth this year. In addition, the changes in these weeks will influence the strategy of many companies and will change the way we work when the emergency is over and things will return to a new normal,” believes Adrian Bodomoiu, general manager of Wizrom Software, developer and integrator of IT solutions for businesses in Romania.
The company develops and provides HR, payroll, accounting and management software, sales automation, production and Business Intelligence. According to company data, Wizrom Software ended last year with a turnover of 5.7 million Euro. Currently, Wizrom has over 3,600 active customers and 35,000 licenses installed in very large organizations (with turnover of over 10 million euros), but also in Small and Medium Business companies in almost all industries.
“We are experiencing a very sensitive moment, a turning point for us as people, but also for the business environment. This crisis has brought to the surface a number of challenges at an unprecedented level and has required rapid changes in the way we all move, interact or operate. It was a moment that made very clear the benefits that technology can offer – even if direct human interaction cannot be 100% replaced, those companies that had already taken steps towards a technology-based future were better prepared. in order to face the crisis period and even reduce, at times, its impact,” says Adrian Bodomoiu, general manager of Wizrom Software.
According to the manager, “if we look at these 5 technological trends as a whole, their convergence and interoperability becomes evident. Companies that will understand these directions and holistically integrate these technological processes with their business strategy will only have to win in 2020 and the years to come.”
According to findings of the company, the main five trends in tech in 2020 will act as follows:
AUTOMATION not only replaces certain manual processes, but also enhances employee capabilities and supports moving business operations to the next level. Automation begins to make sense, financially and in terms of productivity, in all economic sectors, but particularly in the production area. Manufacturing companies, for example, will be more oriented, after this period, to sophisticated automation solutions to prevent the negative effect of new disruptions in activity.
In addition, the prolongation of the crisis period has the potential to boost also the investments of SMEs in the digitization and automation of the future activity, either by adopting cloud solutions, accessible from the point of view of costs and implementation, or by implementation of software solutions. HR, accounting or sales automation, to help them streamline their operations and enable remote work in optimal conditions.
The pandemic affected all activities that required interactions between people, freezing, practically, entire economic sectors, such as the hospitality and tourism industry, but also certain segments of retail and transport. At the same time, however, the same phenomenon boosted those activities that could be carried out remotely and online: remote work, online learning, online events (webinars) and the e-commerce area. The mobility that people previously enjoyed in the physical world has not completely disappeared, but has moved to a different environment, supported by technology. Even if, for the moment, this transformation is temporary, the business mobility experiment has all the potential to turn into a lasting one, as companies see real-time economic or security benefits. The demand for mobility solutions was already on an upward slope, and this period will do nothing but accelerate the development of the segment in the future.
BUSINESS INTELLIGENCE AS A STRATEGY
This pandemic has very clearly highlighted the need to better control the huge amounts of data that companies have and to use them better. Business intelligence systems include many capabilities, from the most commonly used, such as extracting reports and analyzes, to more complex ones, identifying trends and making forecasts and future scenarios. The current context has emphasized the importance of the right insights to make critical business decisions, easier, almost in real time and in a scalable way for different business lines.
INTEGRATION OF AI
Artificial intelligence will start to move from the concept stage to becoming an integral element of the new normal of professional life. Starting this year, we will see an acceleration of its integration with other technological trends. If we talked about the implementation of business intelligence solutions on a larger scale, for companies that have already ticked the moment, the next step will be to reorient to solutions that integrate Artificial Intelligence (AI) and can generate in-depth analysis, in a shorter time, with a more direct and significant impact on the business.
This trend is obviously not new this year, but again, we will see a rapid acceleration of cloud-based deployments. These will be seen by companies as a way to prepare for other periods similar to the present one, so as to ensure that they will be able to carry on their business with fewer interruptions and increased productivity. The reorientation to the cloud will be visible in all types of business software, from those that support the marketing activities to sales, accounting and HR.