With Ventana Research’s 2023 Market Agenda, we continue the guidance we’ve offered for two decades to help organizations derive maximum value from digital business technology investments. Through our market research and expertise, we identify trends and best practices and share insights on how to achieve technological effectiveness, particularly in key processes and systems to engage the workforce.
Topics: Performance Management, Business Continuity, Digital transformation, Digital Business, Digital Security, Digital Communications, Work Management, Experience Management, Governance & Risk, Sustainability & ESG
Ventana Research has announced its market agenda for 2023, continuing a 20-year tradition of credibility and trust in our objective efforts to educate and guide the technology market. Our research and insights are backed by our expertise and independence, as we do not share our Market Agenda or our market research – including analyst and market perspectives – with any external party before it is published. We continuously refine our Market Agenda throughout the year to ensure we offer the expertise and insights organizations rely on to better assess and navigate the direction of the technology industry.
In today’s organization, the myriad of analytics and permutations of dashboards challenge workers’ ability to take contextual actions efficiently. Unfortunately, conventional wisdom for investing in analytics does not recognize the benefits of empowering the workforce to understand the situation, examine options and work together to make the best possible decision.
The management of work is a focal point for every organization that has people and resources directed to accomplish the smallest to largest of tasks. But many organizations are not easily able to manage complex activities because the details of how people are assigned and complete work are not as simple as they should be. Traditional project management methods and technologies have failed to work in an enterprise manner, so new approaches have emerged to meet today’s challenges. The essence of work management is to ensure the automation and intelligence afforded by the technology industry is infused in how organizations operate, as outlined in my perspective.
The technology industry has established itself as a pivotal force in its ability to help organizations become more intelligent and automated. But doing so has required a journey of epic proportions for most organizations that have had to endure a transition of competencies and skills that was, in many places, transitioned to consulting firms who were hired appropriately to manage changes. Unfortunately, this step led, in many cases, to an extended focus on digital transformation rather than the necessary modernization of business processes and technology. Through 2024, after concerted investment into digital transformation, one-half of organizations will require a new digital business and technology agenda for organizational resilience.
Pressures to engage consumers through every interaction and provide a delightful customer experience are influencing advancements in business and technology. Organizations are challenged to manage friction points experienced by billions of consumers amid expanding digital channels. These issues must be addressed to engage and respond to customers every second of the day.
I am happy to share insights gleaned from our latest Value Index research, an assessment of how well vendors’ offerings meet buyers’ requirements. The Ventana Research Value Index: Workforce Management 2022 is the distillation of a year of market and product research by Ventana Research. Drawing on our Benchmark Research, we apply a structured methodology built on evaluation categories that reflect the real-world criteria incorporated in a request for proposal to workforce management vendors supporting the spectrum of these requirements. Using this methodology, we evaluated vendor submissions in seven categories: five relevant to the product experience ﹘ Adaptability, Capability, Manageability, Reliability and Usability ﹘ and two related to the customer experience ﹘ Total Cost of Ownership/Return on Investment and Vendor Validation.
Workforce management processes and activities, a major focus of investment and optimization efforts for decades, have undergone a huge transformation in recent years. In our view, this is mostly a function of two significant trends: the explosion of technology innovation associated with the use of artificial intelligence, machine learning and embedded analytics in many areas of a business including a range of human capital management processes and operations; and a major reframing of the employer/employee relationship stemming from the now universal emphasis on elevating the worker experience. This was becoming more of a strategic focus across most organizations before the pandemic, but the past two years has made delivering a great employee experience an essential part of operating a business. In the absence of this, employees tend to become disengaged, and many will leave. The same can be true of the customers serviced by those employees.
Ventana Research recently announced its 2022 Market Agenda for Human Capital Management, continuing the guidance we’ve offered for two decades to help organizations derive maximum potential from workforce- and people-related technology investments and initiatives. In crafting this Market Agenda, we focused on three critical themes top-of-mind for both HCM vendors and buyers: Organizational readiness, workforce resilience utilizing digital technology to increase retention, and advance worker skills for career development.
With the announcement of Ventana Research’s 2022 Market Agenda, our expertise in Digital Business continues to advance the market need for effective investments into technology, and I will outline here the key areas of focus to provide insights to organizations that can increase their organizational resilience and workforce readiness. We are proud to provide expertise on ensuring technological effectiveness through our market research and experience in providing guidance on trends and best practices.
Topics: Performance Management, Business Continuity, Governance Risk and Compliance, Digital transformation, Digital Business, Digital Security, Digital Communications, Sustainability Management, Work Management, Experience Management