The Technology spending intentions in 2024 research shows that more than half (53%) of IT decision makers in the EMEA region say project management is their top business application priority in 2024, followed by enterprise resource planning (ERP) at 50%.
Research suggests that organizations are optimizing workflows with intelligent process management tools, increasing efficiency and squeezing out waste in a cost-sensitive year. Business process automation is used to simplify repetitive tasks.
The goal of every company is to stay ahead in a dynamic market, minimize waste and reduce its impact on the environment.
ERP and supply chain software is more complex and evolving towards seamless integration, automation and data-driven insights, empowering companies to modernize their software, optimize operations, make informed decisions and respond to market changes in real time.
Good project management is key to achieving successful implementation and introduction of modern business systems. Of the 83 IT decision makers investing in project management, the top three areas are project planning (53%), business process automation (52%) and collaboration and communication (51%).
Economic uncertainty requires agile forecasting, planning and scenario modeling. The development of financial business software shows that there is a trend towards automation, data-driven insights and integration. They promise to empower agile decision-making in a dynamically changing market.
The survey shows that two thirds (66%) of IT decision makers in EMEA plan to invest significantly in ERP in the next 12 months. The second largest area of planned investment is supply chain (46%), while management and regulatory compliance is third (41%).
When asked about the customer-facing tools they plan to implement over the next 12 months, North American IT decision makers had generative AI (GenAI) tools at the top of their priority list, while in EMEA, customer service tools topped the list. (34%). In EMEA, GenAI, chatbots and customer relationship management rank second (29%).
“CX [customer experience]broadly understood, it is at the heart of companies’ business growth plans, with security, data management and operational efficiency at the fore, with increasing interest in the creative possibilities of artificial intelligence in contact centers, CDPs and digital experience platforms,” said the Enterprise analyst Strategy Group Brian McKenna.
In terms of investing in HR and talent management, IT decision makers in North America and Europe have the top priority in 2024 on onboarding, followed by employee performance management, while in North America the second highest priority for investment is workflow management .
Learning and skill development techniques continue to evolve, with more personalized courses, augmented and virtual reality capabilities, and gamification software fueling growth. However, in terms of prioritizing HR investments, learning management and skills fell one place compared to 2023 among IT decision makers in the EMEA region. In the US, learning and skills fell six places in terms of investment priorities.
Employee health is becoming increasingly important in both regions. Among IT decision makers in the EMEA region, 39% say they are investing in the area this year.
Overall, the research found that AI and automation are rapidly changing the role of HR, including streamlining administrative tasks such as paperwork, payroll, scheduling, onboarding and performance reviews.