This month’s IT roundup features a collection of articles covering digital transformation, data governance and modernization. Check out the latest articles below and see how companies are integrating more dynamic and modernized strategies to propel their businesses forward in the digital age.
With more businesses transitioning to the cloud and data expansion on the rise, data governance is becoming increasingly more significant. For those executives looking to better safeguard sensitive internal and client-facing data, investing in a stringent data protection policy (DPP) empowers companies to streamline the data transmission process, remove critical risks and ensure standards compliance.
In addition to adopting a DPP, Forbes Technology Council’s Dr. Adi Hod emphasizes adding a dynamic AI engine to sort, assess, support, and regulate data processing protocols for companies to bridge the gap between company data managers and data capture (and transfer) processes. Given time and the integration of applicable data sets, the AI engine can learn, create patterns for, and adapt to company protocols. A properly preempted engine can also streamline these functions and automate data processes where necessary, which slowly removes the need for human governance and allows personnel to be reassigned to other more critical projects.
Read Dr. Hod’s article to learn more about how the addition of an AI engine boosts a DPP’s performance, and how it can prove useful for future-proofing your organization in the digital age.
In analyzing Bottomline’s Future of Competitive Advantage in Banking & Payments Survey, Head of Global Marketing for Bottomline, Zhenya Winter emphasizes the competitive edge digital transformation affords companies. While highlighting digital transformation's beneficial impact on operations, Winter states many companies in the larger financial sector remain skeptical of more advanced digital transformation initiatives, as cloud migration currently acts as a necessary precursor to a larger organizational modernization and strategic shift. However, Winter asserts escalating events, such as the Russia-Ukraine crisis and larger continental policy changes have caused banks to turn their immediate attention toward real time payments and fraud detection.
Winter goes on to tackle the survey’s report that the lack of visibility on payment status experienced the highest increase of any obstacle year-over-year, according to finance executives. Winter mentions shifting to fee-based pricing, along with ISO 2022 compliance may be the keys to alleviating this detraction. These timely innovations can provide companies with more stringent fraud defense and better-quality data – all while allowing for more efficient cross-border payments. But focusing on improving the payment system is only step one, as companies need to continue investing in their entire secondary infrastructure process to modernize the whole process and streamline their revenue services.
Read Winter’s full article to learn more about how digital transformation and ISO standards compliance are continuing to influence change in the financial sector.
The influx of innovative technologies and new systems flooding the market signals an immediate need for companies to upgrade their legacy systems -- or face the threat of technical debt. While an organization’s accumulation of technical debt can negatively impact its productivity rate, detract from overall efficiency, and impart a multitude of financial burdens, it’s effect on cybersecurity can put businesses at a severe risk of unwarranted data access and breaches.
Many legacy systems are unable to protect against modern day cybersecurity threats, making it necessary for organizations to add modernized applications and technologies to their systems to protect against critical attacks. By implementing modernized approaches to data protection or access, such as a zero-trust architecture, organizations are more capable of stopping cybersecurity breaches, while concurrently reducing their technical debt.
Read Carver’s full article to learn more about why modernization is a critical investment for your company and see how zero-trust policies can help diminish cybersecurity threats and technical debt.
The impact technology has on our lives, our world, and our businesses is growing significantly; whether it’s demand for newer systems, modernized workflows, or the addition of continual quality-of-life improvements. Digital transformation allows forward thinking IT leaders and executives to apply the latest software and technologies to realize these benefits – all while fostering a more dynamic work environment that influences growth and innovation.
Knowing how and when to undergo digital transformation can be the most daunting part of the process for businesses. Identifying the need for a digital transformation can involve identifying which specific protocols need updating or require retooling, what software or technologies are needed for application, and establishing the project scope. In any case, a comprehensive digital transformation strategy is empowered by the priorities and realities of the organization.
Looking to undergo a successful digital transformation? Read the full article here to get started.
Take the next step into Digital Transformation with Resolvit
Planning a digital transformation for your business? Resolvit works with you to match your critical business objectives with the necessary talent, software and technologies needed to empower your organization’s IT modernization. Contact us today to learn more about how our tailored solutions can help you realize greater organizational efficiency and improve your team’s productivity during your next digital transformation.