Every new beginning creates an opportunity to reflect on the past. So, as I kick off the new year, I take stock of the year we left behind, and the well-known saying, “May you live in interesting times,” comes to mind. Indeed, 2023 was an interesting year. In 2023, COVID-era lingering economic uncertainty led to supply chain disruptions, inflation, widespread layoffs, and projects being put on hold. And recently, our world’s struggle to uphold tolerance and peace has been seriously threatened. We long for unity and look forward to better days.
In 2023, we continued to witness the evolution of cutting-edge technologies. In the not-so-distant past, these innovations, such as generative AI, machine learning, hyper-automation, and robotics, were only constructs brought to life through science fiction. Today, when my 10-year-old son completes a book report with the help of chatGPT and other AI tools, I realize how intertwined our lives have become with these technologies. And I can’t wait to see what the future has in store for us.
In 2024, emerging technologies will continue to wow us. Whether from natural curiosity, new business requirements, or a drive for operational productivity, we will look for opportunities to absorb and benefit from new technologies. Many IT companies might approach the current financial climate by completely holding off on innovation projects. But this would be a mistake because challenging times often set creative processes in motion.
Operations and business needs continue to evolve, even in a tough market. With a bit of creativity, we can learn how to strategically leverage our existing investments, all while stretching the dollar of our current systems. We can find ways to gradually integrate our current investments into new platforms and technologies without spending millions of dollars and many years rewriting code. In any case, phased adoption of new technologies is usually a safer bet than a full-scale overhaul, particularly for organizations that rely on Oracle EBS and Oracle Forms for their mission-critical operations. With platforms like AuraPlayer, Oracle users can get more value out of their existing system by extending their backend to new digital experiences and integrating new technologies over time.
If you want to get 2024 started on the right foot, use these questions to identify your main business needs and to map achievable IT goals for the year ahead:
1) What is your overall impression of productivity in the organization? Are there specific departments or tasks that could run more efficiently by utilizing automation? Consider manual and/or repetitive tasks and error-prone tasks (e.g., paperwork, data entry, working hours recording and other HR processes, QA testing protocols, etc.).
2) Are there specific processes that require maximum uptime? Could processes be more streamlined if they were completed remotely or automatically?
3) What is your current budget for IT/ innovation? What, realistically, do you have to work with over the next 12 months?
4) Which “smart” changes could be implemented relatively quickly? If the organization’s long-term IT roadmap includes a plan to migrate to the cloud or off of Oracle, which inefficiencies can be improved now that will continue to benefit you down the road? For instance, APIs can improve functionality in your existing system now and be useful later on for future modernization projects. (Read more about phased migration here).
The exciting and rapid pace of technological advancement feeds into our natural inclination to “dream big”. Few wouldn’t jump at the chance to dedicate unrestricted resources to the “next big thing”. However, the shorter, paved road is usually the one that will get you safely to your destination. This is especially true in tighter economic climates since larger multi-year projects often end up getting shelved. This erroneous approach is an attempt to cut back on spending but inevitably delays much-needed operational improvements. By pinpointing your most critical and imminent business needs, you can set achievable goals and modernize in a much more targeted way. Ultimately, the best recipe for strategic, affordable innovation in 2024 will come from asking the right questions to help you identify your most pressing business needs, home in on your short-term goals, and explore how you can work creatively with what you’ve already got.
