The year 2020 had to go through unprecedented evolution due to pandemic. The adaption of remote work environments became necessary for companies in the world of asset management. 2020 witnessed the increase in safety protocols and the compliance of maintaining strict distancing regulations.

This impermanent situation certainly raised a question as to what new trends can we expect in IT asset management in 2021?

If we look over the Last Decade-

The last decade witnessed the Fourth Industrial Revolution of the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), and automation in full swing. And companies showed their surprising resistance in adopting these new technologies despite the proven benefits of these practices.

The COVID-19 pandemic then changed the game, fast-forwarding the digital transformation processes overnight and forced organizations to not rely on pen and paper. Organizations had to adapt to this sudden change. Here’s what the future may look like in 2021.

Rapid Shift in Operating Models- Even through IT asset management, it has a fluctuating nature with its ever-changing competition and customer expectations, along with the updated technology found in many businesses’ operating models to stay unresponsive static.

There is an expectation of change this trend in 2021 as businesses will be looking forward to transforming their operating models, owing to the increased focus on core and differentiating activities and targeted changes on data and analytics. The shifts to the operating model would incline towards the constant conversation with digital evolutions.

• Increased Focus on Comprehensive Data- Many businesses continue to struggle with data strategies that need to be under control to foster innovation, automate and utilize data-driven insight, and in turn, scale up a modern business. 2021 is likely to demand comprehensive, uniformly governed, visible, trustworthy, clean, and enterprise-wide data.
• The need for a Highly Skilled Team- The skills gap in the IT asset management sector is leaving millions of positions unfilled. But there will be an increased focus on working with tools and technology, digital skills, critical thinking skills, programming skills for robots/ automation, etc.
• Businesses are looking to attract digital native top talent and call for a new wave of digital-native employees for machines and people to work side-by-side to achieve lasting business success.
• The shift in Company Cultures- Companies are likely to reconfigure their businesses and adapt that culture required for embracing the ongoing change by getting employees experienced with the tools and processes to satisfy the needs of long-term strategies, responding to comprehensive data, and focusing on results. The culture of change is most probably incoming in the next decade and beyond.
• Intelligent Deployment of New Technologies- The technologies would be executed strategies, increase revenue, and improve overall operations. Companies will focus more on personalized customer experience, driving growth in business-wide solutions rather than stand-alone software.
• The 3 A’s (AI, Analytics, and Automation) are estimated to maximize transparency, decrease costs, increase flexibility, and support strategic growth.

Summary

Businesses need to undergo constant adaptability and embrace change to thrive in the coming environment. We do not know what is in store for us in the future. Still, IT asset management is an ever-changing industry compelling companies to focus more on long-term adaptability in the next decade and beyond!