Here are the top five 2020 predictions for enterprise organisations
From 2020, government and enterprises will need to fine-tune their systems and processes to meet the expectations of millennial workers, who now make up the majority of the workforce.
Consequently, government entities and enterprises should look to leverage automation technologies such as artificial intelligence (AI) and machine learning (ML) to automate dull, repetitive tasks and ensure company policies are adhered to while workers are free to focus on more valuable activities.
This is especially true when it comes to determining and enforcing spending policies and ensuring business travel meets environmental responsibility and sustainability goals.
Leaning into this shift will also help companies more successfully retain quality employees, which is crucial as the technology industry continues to face a skills shortage even as governments and enterprises depend more heavily on technology for daily operations.
Therefore, it’s crucial that businesses recognise and respond to these trends to stay competitive and improve employee engagement and performance, according to SAP Concur.
Matthew Goss, managing director, ANZ, SAP Concur, said, economic concerns and the demand for tech will continue to dominate in 2020.
“Enterprises will be expected to do more with less, so they’ll need to leverage automation technology such as ML and AI for success in the new decade,” said Goss.
The following are the top five 2020 predictions for enterprise organisations, covering economics, technology, business, travel, the environment, diversity and corporate social responsibility, according to SAP Concur:
Fears of a slowing economy in Asia-Pacific will bring more pressure on businesses to do more with less
2020 will see more CFOs steer their companies into calmer waters through increased visibility into corporate spend to better control budgets. By harnessing technologies like AI, ML, and deep data analytics, automation will deliver greater productivity and intelligence to operations, without growth in headcount.
With airline and hotel prices expect to increase by up to three per cent in the new year, there is an increased emphasis on implementing corporate travel systems to get the best deals, as well as leveraging technology to result in fewer trips.
Australian organisations will require solutions that assist in the complexities of business travel and spend management, including: country-specific tax regulations; traveller tax and immigration; GST reclaim; and cashless payments.
Workers looking to save time will kick demand for AI into overdrive
Millennials are instinctively comfortable using automation technology such as AI and, as a result, expect that routine tasks can be automated. Already, a growing number of employees are using AI to sort and forward emails, proofread documents, schedule meetings, and build custom workflows.
The potential for increased productivity and economic growth only reaches as far as the organisation’s willingness to lean into this shift. Organisations need to embrace automation to free up talented workers to contribute more creatively to the organisation’s success.
Organisations will treat their employees as technology customers
As internal hierarchies become increasing flat due to direct communication lines between staff and senior management, employees expect not only to be heard, but to see action. The consumerisation of workplace technology means that employees expect the same great experiences from their enterprise applications as their mobile phones, or shopping websites. Providing business solutions that mimic consumer applications can help improve employee satisfaction and retention. However, it can also be difficult for organisations to deliver due to costs and policy, among other roadblocks.
2020 will see more organisations gather data on employees’ user experiences and use it to improve productivity, human resources, travel and expense management, and other areas. Additionally, organisations will increasingly bridge the gap between how their enterprise travel-booking tools are configured, relative to consumer-travel apps, without forgoing the discounts, control, and real-time visibility into the choices that employees are making.
Led by executives, businesses will go green
Internationally, 2019 was a great year for environmentalism. The European Union launched a Green New Deal to achieve European carbon-neutrality by 2050, and 181 CEOs announced a new Statement on the Purpose of a Corporation, identifying environmental sustainability as one of their top concerns.
Although few legislative changes have been made in Australia, corporate sustainability will be at the top of the agenda in 2020 for most Australians with many people seeking only to engage with and work for organisations that are reducing their environmental impact.
With the travel sector accounting for eight per cent of global carbon emissions, 2020 will see an increased emphasis on providing more sustainable travel options for employees.
Non-traditional tech recruiting will go mainstream
With the rapid evolution of the technology sector, Australian education institutions can’t meet the insatiable demand for skilled technology professionals. As a result, in 2020, companies will increasingly go outside traditional pipelines to find the people they need. This could see an increase in apprentice-like roles, or ‘mid-termships’ for people who likely have degrees in another field but are looking to learn and grow in the technology sector.
There will also be an increased outreach to women who are looking to re-enter the technology workforce after starting families. 2020 will also see an increased demand to hire from a global talent pool, where foreign workers can help meet the demand.
