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Predicts 2023: Collaborate, Automate, and Orchestrate to Optimize Costs and Value During the Economic Crisis
Take a proactive approach: respond to the coming recession now to avoid future challenges
What is the best plan of attack in the face of impending economic downturn? Gartner® says, “Cutting cost in response to the current economic crisis and potential global recession will only get organizations so far, and cutting too many may create problems later. Hence, organizations must take more comprehensive action beyond the cost optimization actions typically considered.”
According to this Gartner report, radically challenging workflows and processes to make them faster, simpler and more agile for the long term is one way to manage spend and control costs. Doing this with a single process platform is another. Gartner predicts, “By 2027, 75% of enterprises will combine their siloed automation initiatives to improve overall value, which is a significant increase from fewer than 10% in 2022.”
In addition, optimizing cost shouldn’t be done at the expense of innovation and delivering business outcomes, or supporting the organization’s strategy. Teams should “focus on measuring, tracking and optimizing value, and identify where cost-cutting will compromise innovation.”
Gartner, Predicts 2023: Collaborate, Automate and Orchestrate to Optimize Costs and Value During the Economic Crisis, By Daniel Betts, Cameron Haight, Hassan Ennaciri, Chris Saunderson, Henrique Cecci, George Spafford, 1 November 2022
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