As 2017 draws to a close, many of us will be looking back on the year’s trends – and its achievements – to help us plan for our goals in 2018. Here at ITESOFT we’re no exception. We’re looking back over an award-winning year that saw us placed in the Gartner Magic Quadrant iBPMS 2017 for the first time in October as well as winning the DM Award for Accounts Payable/Invoicing Product of the Year 2017 in November. But what are the trends that will give us some insight into what lies ahead in 2018?
On the regulatory side, much of 2017 has been dominated by the new Duty to Report legislation, as companies worked to ascertain whether they were eligible to report on their payment practices, what information they needed to supply, and how to create a compliant report. As well as helping many of our clients get to grips with what they needed to know, we looked at the new legislation from a positive perspective, identifying ways for companies to use it as an opportunity to streamline their accounts payable processes and reduce costs.
Innovation is never out of the headlines, but this year’s take has been less about the need to innovate, and more about ensuring it takes place rapidly. Larger companies are increasingly aware that when it comes to digital transformation, they are losing out to smaller, nimbler businesses in the innovation stakes and one way around this is to source innovation from small, agile partners and suppliers who can deliver easy access to the latest, most efficient tools.
Finally, 2017 has been the year when cloud computing came of age, and achieved recognition not only as the future of digital transformation, but also as a vital component for achieving agility and scalability in any industry. Exciting news for cloud-based providers like us!
With so many big trends influencing the industry, it’s no surprise that 2017 has been a year of increased activity for the team at ITESOFT – especially when it comes to events. As well as our monthly webinars, we ran a highly successful demonstration event in June as well as two user conferences for our London and Manchester clients in May and October. We also participated in September’s GPO summit and the P2P Transformation Summit with PPN in June.
So, what’s in store for 2018? According to many tech specialists, the big technology trend is set to be low code platforms – a market that’s predicted to quadruple in value over the coming year thanks to the growing shortage of software developers and increasing demand for a wider range of users to be able to build their own apps. And, as we have seen, the notion of cloud as a trend has come to an end: cloud computing is here to stay, and from this point onwards will keep on growing. Which means 2018 is beginning to look like the year when many cloud-based players will see themselves start to become major players rather than up-and-coming market disruptors. The challenge now, is not to disrupt the market, but to innovate at the pace it requires.