Business Automation using Microsoft Power Platforms
Binding seamless Technology with Finance
General Published on: Fri Feb 10 2023
The ongoing COVID-19 pandemic has accelerated digital transformation in several industries. It has resulted in companies using technology more than ever before for shifting their business online.
If you want to prepare for 2021, it is important that you know about the latest digital transformation trends. This post takes a close look at digital transformation trends that will shape the business landscape in 2021.
Let’s get started.
1. Digital Banking Experiences
The finance industry is set to experience significant digital transformation in 2021. Digital functionality will be the talk of the town. The focus will be on providing a quick and straightforward service to customers. The flow of data will empower financial institutions to process transactions much faster. A major focus on accessibility, ease-of-use, security, and convenience can be expected.
2. 5G Will Become Common
The benefits of 5G have been discussed over the years. Finally, it will be implemented everywhere. With digital demands on the rise, there is a need for high-speed internet. Hence, 5G will become common in 2021. Solid connectivity and bandwidth will be at the forefront of the most innovative change. 5G arrangements will help power a much-needed change.
Most companies have started switching to cloud technology. It is powering consistent business continuity. To build economies of scale, application programming interfaces (APIs) are necessary. From providing micro-services to building proper infrastructure, APIs assist companies to decrease data silos and provide a collaborative experience.
4. Digital Cybersecurity
Cybersecurity will be more important in 2021 than any other year. As more businesses opt for an online presence, cybersecurity becomes more essential. The pandemic has only highlighted the need for cybersecurity in different industry sectors. Last year, hackers took advantage of the coronavirus pandemic and increased their attacks against vulnerable companies. This is why digital cybersecurity strategies will play a huge role in 2021.
Everything-as-a-service has become very popular today. Now, organizations can truly be digital-native enterprises. The trend focuses on providing services to customers on the cloud by ensuring that they have virtual access to every service. AI and IoT are playing a critical part in helping build the infrastructure for these services.
To ensure a financial advantage over others, automation is essential. In a post-pandemic world, companies are struggling with shrinking revenues and loan losses. This is why automation and robotics are a trend that is catching up with other trends. Through automation, it is possible to increase productivity and ensure cost-effectiveness.
7. Work from Home
If there is one common trend that we saw in 2020 across the globe, it is remote work. In 2021, work from home is only likely to increase. Organizations have finally realized just how profitable it is for them to permit remote work. Hence, we are likely to see an increase in work-from-home opportunities like never before.
From providing excellent digital banking experiences to an increase in work-from-home opportunities, only the most important digital transformation trends in 2021 have been discussed. Stay on top of things by taking advantage of these trends.
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