Global Economy, Sourcing Get ‘Shot in the Arm’ in Q2
The global economy got a proverbial shot in the arm in the second quarter as COVID vaccines continue to be administered around the world.
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Global enterprises fear a possible economic slowdown but are also curious about the possibilities of the latest generative AI technology. These fears and enthusiasms impact the approach to workplace technology investment decisions for large organizations and SMBs. The workplace technology landscape has multiple areas that impact the employee experience and the organization’s outlook. This report dives deep into two important areas: front-end technologies that are employee facing and are the entry point for digital workplace and back-end technologies that IT administrators leverage to ensure uninterrupted, secured and cost-effective management of IT estate that delivers the workplace to employees. Both areas focus on employee experience enhancement in two different aspects and have different sets of technologies that interest a large organization versus an SMB.
Since 2020, the use of digital workplace services by U.S. state and local governments and educational (SLED) agencies has seen significant changes and advancements. This shift, in large part, is due to pandemic-driven impacts in work environments, widespread staff retirements and shortages, and most recently, the availability of substantial funds from the U.S. federal government to upgrade IT and increase the operational efficiency and effectiveness of associated projects.
When we analyzed the future of the work and workplace technology services and solutions market in 2022, we remarked that enterprise workplace leaders are at the center stage of the transformation. 2023 has experienced two significant developments so far. First, there is a growing concern about a possible economic slowdown. Second, there have been substantial developments in artificial intelligence technology. These developments, combined with the trends we observed last year, namely growing acceptance of hybrid working and increasing focus on sustainability and a tech-savvy workforce, are largely influencing enterprise workplace technology buying decisions.
Asset management is an important area of focus in asset-intensive industries, such as oil and gas, metals and mining, industrial machinery, and power and utilities. The need to increase the life span of equipment, plants, machinery and other assets is driving the adoption of asset management tools and software. Implementing EAM software helps utilities and companies from other assetintensive industries improve efficiency, lower emissions and reduce costs, with maximum uptime and reliability.