Investment priorities of companies in Latin America

After two years of great changes and transformations, the companies have taken different paths. New technologies are here to stay, others have become obsolete and this has had a profound impact on the dynamics of business and consumption. A recent study by Frost & Sullivan, carried out with 700 decision makers from Latin America, shows us which new trends are being imposed in terms of investment, appropriation and implementation of technology.

1. Innovation

Undoubtedly, the appetite for technological innovation has accelerated in recent years. According to Frost & Sullivan 7 out of 10 local leaders consider it crucial or very important to accelerate the pace of innovation in their organizations in the next year. In recent years, digital technologies have established themselves as true accelerators of innovation. Therefore, the key to an organization’s success lies in its ability to adapt and digitally transform. This same study reveals that adapting to new ways of working; Increase the capacity to respond to the increase in demand by consumers; and, improving e-commerce capabilities are the main objectives of digital transformation for this and the coming years.

But regarding the way in which it is planned to continue with the transformation process, there are different metrics, among which the following stand out: customer satisfaction and acquisition, production results and product innovation, effectiveness in the delivery of services , and the speed of market launch of products and services.

According to Frost & Sullivan, 7 out of 10 local leaders consider it crucial or very important to accelerate the pace of innovation in their organizations in the coming year.

In addition, this analysis also mentioned some of the main challenges to achieve these digital transformation goals, among which are: Uncertainty about the future organizational structure and work styles; the difficulty of finding the right partner for digital transformation; lack of expertise in-house; and employee resistance to change.

2. Ultra customization of technological solutions: ‘composability’

The word “composability” it means allowing companies to select or design the products that best suit their needs, and thus create richer experiences quickly and with less effort. Emphasizing the need to turn the exercise of technological transformation into something increasingly multidisciplinary in which people from different areas, contexts and generations participate. In addition, we are sure that companies are looking for modular solutions that they can adapt or customize according to their needs in a simple and agile way.

Companies are turning to programmable communications for three main reasons: Increase office worker productivity, improve customer interactions, and increase operational efficiencies through workflow automation.

3. Platforms in which all services converge with a single provider

Decision makers in Latin America and the world are showing a strong turn towards solutions end-to-end from a single supplier in the short term. Although currently 1 out of 4 companies in our region already has a communications solution end-to-end of a single supplier, the most interesting thing is to see the preference for the next two years, where that percentage will almost double, reaching 45% of the total.

4. The great wave of migration to the cloud

This 2022 has brought new opportunities that are being taken advantage of by those companies that have shown flexibility, efficiency and results up to the circumstances. Many of them have leveraged technology, such as the Cloud, to enable their transformation. In fact8 out of 10 companies in the region are already moving applications to the cloud, the study shows.

Although in our industry we continue to see great disparity in the preparation of companies for this process and we see that some continue to prefer on-premise processes, others that do not want to take the step all at once and seek hybrid models and others that were simply born digital.

8 out of 10 companies in the region are already moving applications to the cloud

In this sense, there are still several challenges for companies that have undertaken this process. Among the most relevant, we must mention the following: guarantee compliance with regulations and the security of data and applications; deploy an application in multiple IT environments; modernize legacy applications for deployment in the cloud; and, the fact of migrating data and applications to the cloud that usually has its own complications.

Studies project the consolidation of a hybrid scenario in the region, where there will be more and more options to operate the infrastructure of systems and applications of contact center and unified communications, whether through public, private, or hybrid clouds.

It must also be said that the market for communications as a service is clearly growing. This same study shows a strong acceleration in our region of the CCaaS (Contact Centers as a Service) market, which has registered an increase of more than 160% in just 3 years and with expectations of exceeding 250 million dollars in billing this year. year.

On the side of UCaaS (Unified Communications as a Service), there are equally encouraging data. The growth expectation for users this year remains in double figures, far exceeding the 2.3 million active users in the region that will generate nearly 300 million dollars in billing in 2022.

With that in mind, today is the time to lay a solid foundation of CX and collaboration solutions for the future of your organization. And focus investments on suites of integrated cloud services that deliver the experiences end users, employees, and enterprise IT administrators need.

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