Neptune Software Anticipates Three Key Business Trends in 2023
With another year of uncertainty ahead of us, business leaders must prepare for what lies ahead and Neptune Software has identified three key trends to pay attention to. To keep a competitive advantage in this era of variability, businesses must lean into hybrid work models, prioritize sustainability, and brace for a down-turning economy by centering innovation.
“While there was an initial hope that this year would bring more stability to businesses large and small; the reality is that leaders must learn to live in uncertainty and be both willing and prepared to adapt,” said Andreas Sulejewski, CEO at Neptune Software. “With shifting employee preferences, climate change, and a looming hazy economic outlook, I anticipate next year will bring even more unpredictability. The well-being of employers, employees, and the planet relies on businesses embracing hybrid work norms, prioritizing sustainability, and staying innovative in the face of rising inflation.”
While pre-pandemic, most US jobs were done fully on-site, employees’ shifting preferences and priorities toward flexibility means nearly three-quarters of U.S. employers are planning to, or have already, implemented fully hybrid work environments. To make a hybrid model work for its employees, businesses must establish rules of etiquette that allow employees to feel that they’re still included and valued, wherever they may be working from. That means investing in their digital infrastructure, especially collaboration-driven technologies that mimic the quick, spontaneous hallway conversations and ad-hoc brainstorming sessions of an in-person office environment.
The key is empowering employees to feel like they’re still in the room together, while also offering the flexibility to complete tasks how and when it works for them.
Climate change continues to devastate the planet, making sustainability more imperative than ever for businesses. Many enterprises are finding success by digitizing their supply chains and reducing paper use, saving time and boosting efficiency. This kind of digital transformation has the potential to remove toxins from supply chains by up to a factor of 100 and reduce carbon emissions by at least 20 percent.
The reality is, businesses are facing increased pressure from investors, consumers, and the media, amongst others, to improve the sustainability of their supply chains. Likewise, more and more business leaders are considering environmental sustainability as a major factor in improving or creating products. Failing to prioritize sustainability as part of the business model going forward not only risks the health of the planet, but the health of the business.
Reducing costs in a down-turning economy by staying innovative, agile, and turning things around quickly
Concerns over inflation, rising interest rates, and rising commodity prices all point to a looming recession. While keeping costs low is critical for profitability, gaining a competitive edge often means employees are overworked and hiring additional staff isn’t an option. Still, businesses can weather the storm and even thrive despite it by focusing on innovation, which requires enterprises to remain adaptable and receptive to the needs and behaviors of their customers. This empowers them to turn solutions around quickly.
So how do businesses deliver results through innovation? One way is to lean on low- and no-code platforms. These toolsets put the power of development with business units, which lowers costs and reduces development time, while continuing to allow expanded capacity.
Neptune Software’s software, Neptune DXP, continues to be the leading low-code, SAP-centric app development platform, giving IT professionals the right tools to build the apps they need at scale and with ease. Neptune DXP provides fast, cost-effective, and future-proof ways to transform IT departments to innovation powerhouses.