Top 4 Technology Resolutions for 2020

By BDO Digital | December 09, 2019

As the year comes to an end, most companies are making plans to improve their business in 2020. In the spirit of the New Year, we thought we’d share some exciting technology resolutions you may want to consider:

Modernize Technology

The need to modernize business with technology is nothing new. It’s what we’ve been helping our clients do for over 35 years. However, the pace at which technology is impacting business continues to accelerate. Today’s digitally mature partners stand out because they’re able to work more productively, seize new opportunities faster, and delight customers by providing new and engaging ways to interact with them.

As companies look to the future, they’ll need to understand where they are today – a process we call Assessing Your Own Digital Maturity – and develop an integrated digital transformation strategy that goes beyond simply updating a website or purchasing a new application to address the broader impact of technology on business. Successful leaders are the ones who can lead change, manage risk and map ROI to their technology investments.

Enhance Customer Experience

Survey Findings from the BDO 2019 Digital Transformation Survey indicates that enhancing customer experience through digital transformation can help companies open up new revenue streams, bolster current ones, and outpace competitors in innovation.
As companies are allocating technology budgets, they should be looking at investing in technology to automate and enhance customer service interactions, increase accessibility, and cater personalized experiences. Most notably, they’re exploiting the capabilities of CRM and taking advantage of predictive analytics and AI to inform customer trends and help create tailored customer experiences.

Harness the Power of Data

Businesses today experience no shortage of data in terms of the organization’s internal activities, product development and customer insights. The challenge is harnessing the enormous potential of your data in order to uncover real insights. Additionally, adopting a culture of data-driven decision-making takes more than just purchasing the technology and organizing the data. It will require a proper change management strategy to get your people to leverage the insights they need to make more informed decisions.

As companies begin looking at their data as a strategic asset, an essential building block will be to modernize their data analytics platform, allowing their organization to gather, store and process data of all types and from any source.

Safeguard the Business

With each passing minute, not only do the number of cyberattacks increase, but the sophistication, scope and aggressiveness also intensifies. Couple this with the growing number of government and industry regulations, and the need for improved governance, risk and compliance (GRC) has quickly jumped to the top of the priority list for companies of all sizes across all industries.

As you look for solutions to address these challenges, reducing complexity by leveraging some of the latest innovative technologies in the cloud will be at the cornerstone of an effective cybersecurity solution.

What are Your Business Resolutions for 2020?

As you continue to carve out your path for success in 2020, we invite you to explore our Insights to learn more about how businesses are leveraging technology to achieve their business goals. As always, if you need support in seeing your technology resolutions through, we are always here to support you in your journey!