The rapid expansion following the pandemic has compelled organizations to innovate in response to changes.
Businesses rely heavily on their IT teams to drive digital transformation and optimize growth while
prioritizing cost savings. As a result, they are investing in IT solutions to streamline workflows, increase
productivity, address connectivity challenges, and position themselves for success in the new normal. But to
ensure success, businesses must stay ahead of the latest trends in digital transformation and enterprise
Business leaders are making strategic decisions to achieve their goals, including using APIs to integrate
systems and data, empowering non-IT staff with automation capabilities, and enhancing customer experiences.
These advancements demonstrate the potential for efficient growth when IT is leveraged effectively to
support business objectives.
Below are the key trends in digital transformation and enterprise integration for the current year:
- Proliferation of technology: The number of enterprise applications is rising, with
organizations using an average of 1,061 different applications. However, only 29% of these applications
are integrated, which hinders digital transformation for 80% of organizations, rising to 90% for those
behind on their digital transformation progress. Custom integration labor is expensive, with
organizations spending an average of $4.7 million in the past 12 months. Data silos remain a challenge,
and there are several causes for data integration failure. A future-proofed strategy supported by the
right integration platform is needed to unlock the power of enterprise data.
- Customers expect an integrated user experience: More than a third of organizations
(36%) now provide a completely connected user experience across all channels, up from 30% last year.
Integrated user experiences can increase customer engagement, visibility into operations, and
innovation. However, over half of the organizations (54%) find it challenging to integrate end-user
experiences, particularly those falling behind in their digital transformation progress (74%). Obstacles
include outdated IT infrastructure, security and governance, lack of automation, and existing
custom-coded, point-to-point integrations.
- Efficiency-focused investments driving greater IT output: Business leaders are
prioritizing efficiency and cost savings, leading to increased investment in IT infrastructure. In the
past year, organizations spent an average of $11.7 million on IT staff, with 78% expecting IT budgets to
increase further. Despite a growing demand for IT services, IT teams are delivering more projects on
time, with 48% reporting completion of every project requested, up from 44% the prior year. This
increase in project volume reflects growing expectations from business leaders. Still, IT teams are
rising to the challenge, demonstrating improved delivery despite the growing demand. The IT
infrastructure is becoming more streamlined, with fewer obstacles to introducing new technology and
- API security: Financial services and banking sectors will face increased scrutiny
around API security in 2023 due to regulatory requirements. Many businesses are unaware of the risks
they face with their unsecured and unmanaged API ecosystems. However, 2023 presents an opportunity to
improve security and risk mitigation, as API security is a greenfield for most companies. Lack of
control and governance around APIs can lead to operational inefficiencies and costly redundancies.
Business leaders should also be aware of the risks associated with over-collecting and over-storing
unstructured data. API security plays a crucial role in discovering and managing APIs within an
- Digital transformation challenges and failure risks: The
importance of customer experience in organizational success has led to a significant shift towards
digital interactions, with 72% of customer interactions now taking place online. Despite this, 69% of
organizations report being ahead of anticipated progress in their digital transformation projects, with
only 10% falling behind. However, IT teams still face various challenges, including integrating siloed
apps and data, a lack of skills and experience, compliance, hiring/retaining talent, and legacy
infrastructure. Failure to address these challenges and complete digital transformation initiatives
could cost organizations an average of $9.5 million, up from $6.8 million in 2022. Organizations must
adopt a composable IT approach supported by low/no-code tools to overcome the challenges of digital
- Rise in adoption of business process automation: Robotic process automation (RPA)
adoption is on the rise, with 33% of organizations planning to invest in RPA, up from 13% two years ago.
IT plays a crucial role in managing (67%) and tracking (59%) automation. However, other teams outside of
IT also require business process automation tools, such as data science, product, and business analysis
teams. Organizations must integrate and automate their departments using API integration automation for
- API strategy to optimize costs and increase revenue: APIs are widely used by
organizations, with 99% utilizing public or private APIs for various purposes, such as new projects,
integrations, and self-service IT capabilities. Over half of the organizations have a mature API
strategy that empowers non-technical business users to integrate apps and data sources easily. APIs
generate an average of 38% of an organization's revenue and are used to streamline development, improve
application development, and build new products and services. While API integration strategies are not
yet mandatory, organizations ahead in digital transformation are more likely to use a top-down approach.
APIs drive agility and cost savings, with the ability to self-serve IT being the most cited benefit.
In conclusion, IT is increasingly becoming vital for organizational success as business leaders prioritize
efficiency, cost savings, and digital transformation initiatives. Despite the challenges that the IT teams
face, such as integrating siloed applications and data, organizations are investing in automation tools and
composable IT approaches to drive efficient growth. APIs are also being widely used to streamline
development, improve application development, and build new products and services, with organizations citing
cost savings and revenue generation as the main benefits. As organizations continue to invest in IT
infrastructure, they must embrace a top-down approach to API integration strategies to unlock the full
potential of enterprise data.
As a leading MuleSoft partner, Nous Infosystems offers in-depth expertise in full lifecycle API management
to help enterprises ensure seamless digital connectivity and integration. Get in touch with Nous to leverage
Integration Platform for your API management and integration initiatives.