Tag: digital

Low Code for Digital Transformation – Debunk the Myths and Explore the Possibilities | On-Demand Webinar

ON-DEMAND WEBINAR

Low Code for Digital Transformation - Debunk the Myths and Explore the Possibilities

Low code is emerging as a key technology for enterprises to rapidly develop and deploy custom applications and accelerate their digital transformation journey. Multiple low code platform providers have surfaced in the past few years, offering immense potential. However, the technology remains underutilized because of enterprises’ lack of awareness, multiple myths and misconceptions, and the limited availability of talent.

In this webinar, we’ll share our views on the low-code market, its potential, and key opportunities for enterprises to drive digital transformation. We’ll also explore the low-code adoption journey leading enterprises to maximum benefits.

What questions will the webinar answer?

  • How does low code accelerate digital transformation for enterprises?
  • How can enterprises design a low code strategy and begin a successful adoption journey?
  • What are the investments needed across platforms, partners, talent, etc.?
  • How to eliminate the common enterprise myths about low code platforms?

Who should attend?

  • CEOs
  • Digital leaders
  • Tech platform vendors
  • Application services leaders
  • Service providers
  • Strategy leaders
  • Product leaders

Digital Transformations: 5 Emerging Trends in the Intelligent Process Automation Market

The pandemic’s effects on the digital landscape are long-lasting. Businesses are evolving to rely on the intelligent process automation market (IPA) to promote growth and keep up with competitors. Read on to learn more about five growing IPA trends.

In a world becoming increasingly reliant on technology, financial services organizations are digitizing and automating more processes to keep up with the competition. The intelligent process automation market, growing by about 20% across all fields, is now becoming ubiquitous.

IPA is defined as automation in business processes that use a combination of next-generation automation technologies — such as robotic process automation (RPA) and cognitive or artificial intelligence (AI)-based automation, including intelligent document processing and conversational AI. Solution providers are offering solutions across RPA, Intelligent Document Processing (IDP), and workflow/orchestration, as well as crafting innovative solutions such as digital Centers of Excellence (CoE) and investing more in as-a-Service offerings.

In our recent Intelligent Process Automation (IPA) – Solution Provider Landscape with PEAK Matrix® Assessment 2022 report, our analysts ranked IPA technology vendors and looked at the market for IPA solutions. Based on the research, the growth of IPA technology and reliance will expand to around 25% over the next three years.

Five intelligent process automation market trends enterprises should know

The question of how to become faster, more efficient, and more resilient is the focus for just about any organization undergoing digital transformation. Very often, the answer to this question is at least, in part, intelligent process automation. In the near future, we can see five emerging IPA trends:

  1. IPA will get smarter

A greater proportion of cognitive elements is finding its way into the intelligent process automation market. About 60% of new automation projects involve more advanced cognitive tools such as IDP, conversational AI and anomaly detection. As the maturity of AI-based solutions increases, cognitive automation will be in greater demand. All-round adoption of IPA will be fueled by providers entering new geographies and organizations starting IA initiatives.

  1. IPA will be more scalable

Although many organizations are trying to adopt intelligent process automation, the real question is if it can be scaled up or, in other words, if it can be brought across the organization. To help enterprises scale automation, solution providers are investing in expanding their partner ecosystem, strengthening technology capabilities, and enhancing their services portfolio.

Providers are also expected to help enterprises scale up through more effective change management and CoE set-up strategies. Aided by the prevalence of process intelligence solutions to form robust pipelines and orchestration tools to facilitate holistic automation, enterprises are better equipped now to move away from siloed applications of IA to scaled-up automation implementations.

  1. Citizen development will grow

Many organizations are experimenting with what they can do with citizen development, especially with the current talent shortage. Citizen-led development also holds the power to disrupt the current state of building automation and addresses the issue of talent availability. Solution providers are expected to invest in citizen development and low-code/no-code technologies enabling business users to build automation, consequently also addressing the talent shortage in the market.

Solution and technology providers are also expected to invest substantially in developing the low-code/no-code capabilities of their platforms to enable business users with limited technical exposure to build automation solutions on their own. A few solution providers are implementing citizen development programs in their own organizations and are planning to leverage the learnings to develop effective governance programs for enterprises.

  1. IPA service providers will bring IPA solutions packages to the market

Packaged solutions are gaining traction in the IPA market due to their ease of implementation and quick Return on Investment (RoI). Solutions for F&A are the most prevalent in the market. These solutions will need training on particular data sets to make them functional for a particular process, but they will speed up implementation. Providers are expected to take conscious steps toward promoting sustainable AI by developing solutions complying with environmental, social, and governance (ESG) parameters. They are also investing in AI solutions that are transparent about their working and usage of data.

  1. IPA service providers will pre-build connectors to legacy and other systems

There are a host of technologies, including RPA, conversational AI, process mining, and process orchestration in the IA ecosystem. Very often these IA solutions need to talk to the various other systems. Many IPA service providers are driving innovation and crafting new solutions to keep pace with the fast-moving IPA market and create a more holistic integration process. One such method is offering enabling capabilities like pre-built connectors for a faster and less complex implementation.

If you would like to learn more or discuss the intelligent process automation market and IPA trends, reach out to [email protected].

Learn how the healthcare industry is utilizing intelligent automation, digitalization, and telehealth as fundamental driving forces to transform and evolve in the webinar, How Intelligent Document Processing Is Transforming the Healthcare Industry.

Digital Twin Services PEAK Matrix® Assessment 2022

Top Digital Twin Services 

As enterprises work to remain resilient and competitive in a post-pandemic era, they are increasingly focusing on becoming digitally unified. Digital twins, or virtual replicas of physical products, processes, and systems, will help them achieve this goal. The technology leverages a physical entity’s real-time data for decision-making and predictions. Digital twins are helping firms reduce downtime, improve tracking and tracing of products, and better monitor asset conditions by simulating diverse scenarios.

The need for accelerated time-to-market of digital twins, smoother IT/ OT integration efforts, and increased data and infrastructure security, as well as talent shortage across various enabling technologies, is driving enterprises to partner with service providers.

DOWNLOAD THE FULL REPORT Digital Twin Services PEAK Matrix® Assessment 2022

Digital Twin Services: What is the Scope?

  • All industries and geographies
  • The assessment is based on Everest Group’s annual RFI process for calendar year 2021, interactions with leading digital twin service providers, client reference checks, and an ongoing analysis of the digital twin services market

What is in this PEAK Matrix® Report:

In this research, we present an assessment of 16 digital twin service providers featured on the Digital Twin Services PEAK Matrix®.

In this report, we feature:

  • Everest Group’s Digital Twin Services PEAK Matrix® evaluation of 16 digital twin service providers
  • Characteristics of Leaders, Major Contenders, and Aspirants in the digital twin services landscape
  • Analysis of the key strengths and limitations of each of the 16 digital twin service providers featured in the assessment

LEARN MORE ABOUT Digital Twin Services

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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10 Steps to Better Evaluating a Cloud Service Agreement | Blog

Comprehending a Cloud Service Agreement (CSA) can be difficult. With the increasing clout of hyperscalers, buyers need to fully understand a CSA to effectively negotiate with cloud service providers. Learn how to better evaluate these contracts in this blog.  

With the increased adoption of cloud services, Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure have come to dominate the public cloud space in recent years. The negotiating power of these hyperscalers has significantly increased, changing the dynamics of the CSA.

As the influence of cloud providers grows, customers need to carefully evaluate the proper terms and conditions in the CSA. First, let’s better understand the key terms:

  • Cloud service agreement (CSA) – a service level agreement (SLA) for cloud computing services between the cloud service consumer and cloud service provider
  • Cloud service consumer – an individual or a corporate enterprise end user accessing cloud computing resources and services from the cloud service provider
  • Cloud service provider (CSP) – third-party suppliers of cloud-based platforms, infrastructure, application, or storage services
  • Customer agreement – the relationship between the provider and the customer, including roles, responsibilities, and processes used by the CSP

The contract may be written according to the service delivery model selected, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), or Software as a Service (SaaS). CSPs can modify their contract terms at any given time.

Based on our observations, many customers have difficulty understanding these contracts. With the growing portfolio of cloud services in every organization, understanding the nuances to better negotiate contracts with service providers is crucial.

Below is a practical reference to safeguard customers’ interests.

Ten Steps to Evaluate a Cloud Service Agreement

  1. Understand the roles and responsibilities properly
  2. Evaluate business-level policies thoroughly
  3. Understand service and deployment model differences
  4. Identify critical performance objectives
  5. Evaluate security and privacy requirements of the environment
  6. Identify service management requirements
  7. Ensure proper backup for service failure management
  8. Understand the disaster recovery plan
  9. Ensure an effective governance process
  10. Evaluate the exit process fully

For a detailed analysis of your contracts, please reach out to [email protected]. To discuss the cloud service agreement, contact Rohan Pant, [email protected], and Vaibhav Jain, [email protected].

Seven Best Practices to Follow During a VDI Implementation | Blog

Driven by the increasing numbers of mobile workers during the pandemic, VDI implementation has rapidly grown as a secure solution that provides flexibility and cost savings. While it’s a good fit with today’s steadily growing remote workforce, VDI must be implemented properly to avoid pitfalls. Read on to learn the challenges and benefits of implementing a virtual desktop infrastructure.

Workplace infrastructure is quickly evolving. While Virtual Desktop Infrastructure (VDI) transformation has been in the industry for some time, COVID-19 has spurred its increased use to manage IT consumerization and control costs.

The benefits of implementing a virtual desktop infrastructure for enterprises can be remarkable and include easier accessibility for users, device flexibility, increased security, and lower costs. However, if not implemented correctly, VDI can bring organizational challenges. Many projects fail due to improper design leading to performance issues.

Based on our experiences helping organizations understand and optimize VDI implementation to achieve the right model for their budgets and timelines, we identified the following seven best practices:

  1. Understand end-user requirements – Boot storms can be avoided by being cognizant of such details as the number of VDI users, end-user applications, and the times of day users will log in and access their virtual desktops
  2. Consider end-user location – VDI architecture and resources may vary for users at different locations. Bandwidth and latency also have a big impact on the end-user experience
  3. Choose the ratio of persistent or non-persistent desktops – The virtual desktop type can sometimes be determined by the user type, such as task workers, power users, kiosk workers, etc. Persistent desktops retain a user’s personal settings when they log off, while non-persistent virtual desktops do not
  4. Consider client device options – A desktop virtualization benefit is that nearly any device can have a virtual desktop client. Deciding the best mix of thin client devices, converting old personal computers into thin clients, and having bring your own device (BYOD) clients are key factors in VDI deployment. Maintenance requirements and ownership will differ for each case
  5. Design for high availability – While a problem with one physical desktop affects just a single user, an overall VDI failure has the potential to impact all employees. Design the underlying architecture to be highly available to avoid this
  6. Craft a BYOD policy – VDI lets organizations deliver a desktop experience to many types of endpoints and devices – even those owned by end users. Carefully design and distribute a BYOD policy indicating what users can and cannot do on their personal devices
  7. Factor in security – Do not overlook infrastructure security. All security best practices that apply to physical desktops/laptops also pertain to virtual desktops. Administrators should make sure to extend patch management operations to cover virtual desktops

For a detailed analysis of your VDI implementation, please reach out to [email protected]. To discuss further, contact Vaibhav Jain at [email protected].

Composable Commerce: For Composing the Best-of-Breed Customer Experience

From monolithic to MACH architecture, the next evolution in digital experience is here – composable commerce. Similar to building with Lego Blocks, this modular approach allows enterprises to create unique models by selecting “best-of-breed” digital commerce components. Learn how composable commerce is optimizing all aspects of the online shopping experience and what tech providers are pioneering solutions in this rapidly rising area.

Digital commerce growth leads to composable commerce

Just as the COVID-19 pandemic has been a catalyst in accelerating digital platform adoption among enterprises, modern consumers’ purchasing habits have dramatically changed due to frequent lockdowns and increasing online purchasing convenience.

According to a United Nations Conference on Trade and Development (UNCTAD) report, the average share of internet users who made purchases online increased from 53% before the pandemic to 60% across 66 countries following its onset in 2020/21.

The shopping experience has evolved from brick and mortar stores to online and moved to unified commerce – an amalgamation of offline and online channels with an ever-evolving myriad of customer touch points such as social commerce, video commerce, and now metaverse, etc.

Emerging business models such as Digital to Commerce (D2C), new and interactive channels, and advancements in technology, especially Artificial Intelligence (AI) and Augmented Reality/Virtual Reality (AR/VR), have fueled digital commerce’s growth. In response, the underlying digital commerce architecture principles have also morphed to meet the pace of change in digital-native customer expectations.

What is composable commerce, and how will it unlock business value?

Up until a few years ago, monolithic architecture-based platforms were the de facto choice for any digital commerce storefront. These big and chunky solutions providing standard out-of-the-box features for all customers offered a “one-size-fits-all” approach. Enterprises had to be content with these standard features and were required to spend huge budget and time on customizations to meet their business requirements.

However, major issues with scalability, complexity, longer time to market, and budget made this implementation approach less useful for modern commerce businesses where staying abreast of technological advancements, customer centricity, and nimbleness are of utmost priority.

The next major evolution in digital commerce architecture is MACH (microservices-based, API-first, cloud-native, and headless) architecture enabled enterprises. This approach will overcome the shortcomings of monolithic architecture and responsively and dynamically adapt to customer expectations.

Exhibit 1 Characteristics of MACH Architecture

Taking a step forward from MACH architecture, the era of composable commerce has dawned. Composable commerce – a modular approach to implementing digital commerce – uses interchangeable building blocks, leveraging the MACH Architecture framework. It offers enterprises the choice to select “best-of-breed” digital commerce components such as Product Information Management (PIM), Customer Relationship Management (CRM), pricing, etc., and is similar to Lego Blocks where users can create unique models. These composable components are the specific solutions provided by third-party vendors.

While the microservice approach breaks down the digital commerce modules into individual building blocks, composable commerce enables the linkage of these microservices to realize a specific business value. Composable commerce utilizes Packaged Business Capabilities (PBCs), a fully functional, independent component serving a defined business capability. These are used as building blocks for “composing” the unique platform. Each PBC can consist of several microservices. These PBCs can be individually replaced or modified without impacting the entire platform.

Exhibit 2 Central Tenets of Composable Commerce

Thus, composable commerce has shifted the focus toward business-centricity. Composable commerce is built for an organization’s unique operating models, strategic priorities, and customer focuses. Businesses can select essential functionalities for their requirements and “compose” them into a custom application built for their digital commerce platform. This allows enterprises to focus on the relevant PBCs for their business that are sometimes unavailable in the traditional and bulky monolithic platform’s “out-of-the-box” features.

Below are some benefits of composable commerce that enterprises can realize.

Exhibit 3 Benefits of Composable Commerce

The number of PBC vendors providing functionalities such as loyalty, promotions, search, reviews and ratings, analytics, etc., is rapidly growing. Enterprises have the flexibility to choose the best vendor for their platform, considering their individual business and technical requirements. They can manage multiple brands and varying business models, leveraging the same composable commerce stack to stay nimble in response to market changes. Complex business can be launched and managed more efficiently using composable commerce.

Technology providers are already pioneering composable commerce solutions

Technology providers have extensively started working on solutions to enable enterprises to get on board the composable commerce bandwagon. Below are some examples:

  • Spryker has launched the cloud-native “App Composition Platform,” which gives enterprises seamless access to third-party services and best-of-breed digital commerce vendors
  • Virto’s Atomic Architecture™ allows customers to get a composable, flexible, manageable, customized, and easily-updated digital commerce architecture that is fully adaptable to market challenges
  • Elastic Path’s Composable Commerce Hub is an open exchange of composable commerce solutions for digitally-driven brands that want to seamlessly create complete digital commerce experiences for their business
  • Fabric provides a configurable and composable commerce solution to rapidly deploy and scale unique brand experiences, product offerings, and services
  • Infosys Equinox is powering Nu Skin to compose unique and delightful digital journeys across ever-evolving channels
  • Avensia’s composable commerce solution Avensia Excite is built on commercetools. Avensia Excite uses Contentful for CMS, Inriver for PIM, and Apptus eSales for search engine

Composable commerce outlook

While MACH architecture had set a strong foundation for modern digital commerce architecture, composable commerce is the next logical iteration in the digital commerce business model to meet rapidly changing customer expectations and the growing number of touch points. Composable commerce adoption will continue to witness a rise as enterprises plan to move away from the traditional approach of implementing digital commerce solutions. More and more niche third-party vendors are emerging faster than before, providing ample choice for enterprises to craft and “compose” their digital commerce stack.

If you have questions about digital commerce, please reach out to Nisha Krishan ([email protected]) and Aakash Verma ([email protected]).

Stay tuned for insights on the digital commerce platform market from our recently launched inaugural Digital Commerce Platform PEAK Matrix® Assessment.

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