If you want to succeed in the industry, it’s essential to know the ICT trends that may affect your business.
This year, businesses have to become digital-native enterprises by using advanced digital business platforms to gain an edge. Out-of-the-box think tanks, personalized approaches, and analytics-driven marketing are some of the ICT trends in 2019.
Enterprises’ expectations and behaviors continue to evolve, though. And if you want to lead the competition, you must consider the external factors that continue to influence the industry.
So, we’ve rounded up the key influencers in the ICT industry in 2020. Take a look at what they are, so you’ll know how you can boost your strategies moving forward!
ICT Trends in 2020 (Infographic)
Increased Adoption in I.T. Automation
Companies that can keep up with the current IT trends that drive efficiencies are poised to gain a competitive advantage.
By 2020, 57% of organizations are likely to use some form of IT automation. Among various industries, financial services have the highest adoption of IT automation.
SMS Service for Security
Statistics show that 43% of cyber-attacks are aimed at small businesses. In the Philippines, micro, small and medium enterprises or MSMEs account for 99.57 percent of the total establishments. Of this number, the small enterprises share is at 9.5 percent.
It comes as no surprise why businesses, most especially in the financial technology industries, are looking at SMS service for security. Through two-factor authentication (one-time password) helps to prevent the risk of cyber-attacks.
Most Companies Will Upgrade Their IT Infrastructure
Sixty-four percent of companies are ramping budgets so they can upgrade outdated IT infrastructure. To identify the necessary support for aging hardware, businesses need to consider the industry and company size.
For large businesses, in particular, cloud-based infrastructure is seen to help cut the total cost for operations.
Increased Demand in Outcome-Based Services
Enterprise clients are now after result-based outcomes with pre-defined or expected standards. This is one of the reasons why customers’ preferences shift from single-tower services to full-stack service providers.
To meet this trend, MSPs would need to develop their management style and the functions they offer. MSPs must have the capacity to provide their clients with consulting services in terms of measurable results.
As-a-Service Models are Changing Traditional Outsourcing
“As-a-service” and outcome-based models are changing traditional outsourcing partnerships. Expectations change as technologies evolve. Enterprises are optimistic that their sourcing partners will help them attain increased productivity, innovation, speed, and mobility.
Upward Trend of Staffing Business in the Philippines
Hard-to-find talents continue to drive the upward trend of staffing business in the Philippines. According to Philippine Statistics Authority data, more than half of businesses in the Philippines seek help from staffing agencies. PSA found that 54% of businesses with at least 20 workers have hired employees through staffing agencies.
Highly Fragmented Market with Barriers to Entry
IT staffing firms face a continuous struggle to differentiate themselves in a fragmented market with low barriers to entry.
To tackle this challenge, some firms may opt to differentiate themselves by specializing in specific occupations or skill sets. Another option is to focus on specific geographies or concentrate on serving a specific industry or industries.
Strict Monitoring of DOLE on Compliance
Despite the high demand for IT staff augmentation, the anti-endo bill continues to be a major threat to this business.
In July 2019, however, President Rodrigo Duterte vetoed the bill. The President cited the need to strike a balance between the interests of businesses and workers.
Growing Technology Opportunities Outside the PH
Talent shortages continue to challenge recruitment. Talents are hard to find in areas within cyber or data security. Cloud architects and data architects or scientists are difficult to find as well.
Also, mid-market client accounts experience increased bill rates related to emerging job roles, such as those involving machine learning, block chain, and artificial intelligence.
Job Hopping Habits of Millennials
Young professionals are more likely to seek a new job for better training, pay or title. Millennials are on the hunt for a new job opportunity within two years of getting hired. The earning potential is a primary driver behind this habit.
According to a Legal Technology Solutions report, job hoppers can expect a pay increase of at least 8 to 10 percent. Some job hoppers are even able to enjoy as much as a 20 percent raise.
If you want to sustain your business’ growth, knowing the key influencers within your industry is an essential first step. By knowing what they are, you can map out the strategies that will allow you to meet your goals.