Digital Transformation: Lessons learned, customer pain points and key solutions
As we step into the new year, it’s crucial to reflect on the lessons learned in 2023 and anticipate the challenges and opportunities that lie ahead. In this post, we’ll delve into customer challenges, key solutions, and upcoming technologies. Starting with Rob Batters, our Director of Technical and Managed Services at Northdoor, we’ll explore his perspective on navigating the evolving business landscape.
Q: What has been your biggest ‘lesson learnt’ in 2023?
One of the most significant lessons learned in 2023 is that regulations exist, but not everyone has the budget to comply with them fully. It became evident that organisations faced financial challenges in delivering against regulatory requirements. This realisation emphasises the need to find cost-effective solutions that meet compliance standards without burdening the budget.
Q: When you talk to customers/partners – what have been their pain points in 2023?
Customer Pain Points in 2023:
Complexity in IT: The ever-evolving landscape of technology presents a significant challenge for businesses. Complexity in IT infrastructure and systems can hinder operational efficiency, making it difficult for organisations to adapt quickly to market changes.
Cyber security concerns: With the increasing frequency and sophistication of cyber threats, organisations are grappling with the need to safeguard their sensitive data and protect their systems. Cyber security has become a critical pain point, as breaches can lead to financial losses, damage to reputation, and legal implications.
Compliance challenges: In an era of stringent regulations, achieving and maintaining compliance is a major concern for businesses. Organisations face the daunting task of interpreting complex regulations, implementing necessary controls, and ensuring ongoing compliance. Compliance failures can result in hefty fines and reputational damage.
Talent shortages: The demand for skilled professionals in areas such as cyber security, data analytics, and regulatory compliance has far surpassed the available talent pool. Organisations struggle to find and retain qualified individuals, making it challenging to build robust teams capable of addressing the evolving needs of their industries.
Budget constraints: In an era of economic uncertainty, organisations often face budget constraints when it comes to investing in technology, talent, and compliance initiatives. Striking a balance between cost-effective solutions and meeting regulatory requirements becomes a delicate challenge.
Q: What are the key solutions/technologies that customers should be looking to address these issues in 2024?
In 2024, customers should focus on adopting solutions and technologies that address their pain points.
Simplifying, Standardising, and Automating Processes:
To tackle complexity, businesses are advised to simplify, standardise, and automate their processes. Ansible, a powerful automation tool, can significantly aid in streamlining operations. IT Automation can help streamline operations, reduce manual errors, and enhance overall efficiency.
Real-time compliance insights:
To tackle compliance challenges, businesses should leverage advanced tools and technologies that provide real-time insights into regulatory requirements. These solutions can automate compliance monitoring, alert organisations of potential violations, and facilitate proactive remediation.
Multi-layered approach to cyber security:
With the rise in cyber threats, organisations need to adopt a multi-layered approach to cyber security. This involves implementing robust firewalls, intrusion detection systems, encryption, employee awareness programs, and regular security audits. Artificial intelligence (AI)-driven solutions can also play a vital role in detecting and mitigating emerging threats.
Compliance: You need to be informed, and that means using tools that give you a near real-time view of your status.
Q: What are the key issues that will impact customers in 2024?
Implementation of DORA and NIS2 Regulations:
In 2024, businesses will face the implementation of new regulations such as the Digital Operational Resilience Act (DORA) and the Network and Information Security Directive 2 (NIS2). These regulations aim to enhance the operational resilience of the financial sector and strengthen cybersecurity across critical sectors. Organisations must stay informed about these regulatory changes and adapt their processes accordingly to avoid penalties.
The rise of Artificial Intelligence:
Artificial intelligence will continue to play a transformative role in various industries. Businesses can leverage AI to automate repetitive tasks, analyse vast amounts of data for insights, and enhance decision-making processes. However, ethical considerations and the responsible use of AI will also become crucial factors that organisations need to address.
Q: Three keywords that you think sum up 2024 in terms of trends/issues/technology?
When summarising the trends, issues, and technologies of 2024, three keywords come to mind:
Automation will continue to be a vital aspect of streamlining processes and improving efficiency. Compliance will remain a top priority, with organisations striving to meet regulatory requirements effectively. Lastly, the rise of AI will shape business strategies, presenting opportunities for innovation and growth.
Q: What are the potential compliance/regulations in 2024?
Looking ahead, the compliance and regulatory landscape will evolve with the introduction of DORA and NIS2. Organisations should prepare to navigate these new regulations and ensure they are ready to address the associated requirements.
Conclusion:
2024 will be a year of more digital transformation and adaptation for businesses. It’s crucial for organisations to prioritise operational resilience in light of the upcoming DORA and NIS2 regulations. Compliance will continue to be a key focus, and businesses should leverage automation to streamline processes and improve efficiency. Additionally, the rise of AI presents both opportunities and challenges. Organisations that embrace AI and leverage its capabilities will have a competitive edge in the market. Rob Batters also emphasised the importance of addressing customer pain points and investing in exceptional customer care to drive growth and success in 2024.
To succeed in 2024, businesses should learn from the past, understand customer pain points, embrace key solutions and technologies, and stay informed about regulatory changes. By simplifying, standardising, and automating processes, using tools for real-time compliance insights, adopting a multi-layered approach to cyber security, and harnessing the power of AI, organisations can overcome their challenges and thrive in the dynamic business landscape of the future.
Contact us to explore the possibilities and ensure your success in the dynamic landscape ahead.