2023 Business Software Predictions CIOs Should Know

edited November 2023 in Business

While the COVID-19 pandemic has had an enormous impact on business software over the last couple of years, 2023 is shaping up to be a transformative year as well. With increasing reliance on adaptable and decentralized technological infrastructure and technology with minimal environmental impact, the next year will see several notable shifts. Learn more about the 2023 business software predictions CIOs (chief information officers) should know and help ensure the success of your IT initiatives. 

2023 Will See Larger Investments for Both Cloud and SaaS Infrastructure 

Thanks to the massive shift from 2020 onwards away from large communal worksites and towards smaller, more adaptable facilities, companies are also seeking business software solutions with greater flexibility. While some major corporations continue to depend on business software which relies upon on-premises equipment, there has been a significant increase in SaaS (software as a service) utilization. For those unfamiliar with the concept, SaaS services allow users to access apps such as CAD (computer-aided design) by retaining a cloud provider who hosts the software and grants access on a subscription basis. 

There are several reasons for this shift towards both cloud and SaaS infrastructures, including the advantages of having decentralized technologies that are not tied to specific physical locations, having updates managed by the provider, and broad compatibility with various operating systems and platforms. In addition, since the SaaS provider has already gone through the time, trouble, and expense of acquiring servers, network switches, and other necessary hardware and software, CIOs have more options than ever before.  

Rather than purchasing costly electronic equipment and software at the level of a major enterprise, you can access SaaS apps through cloud technology while saving money to invest in your own infrastructure, if needed. This not only gives your business access to tools and services that might not otherwise be available but will also provide your employees with redundant data storage and the ability to switch devices without losing productivity. Companies that have invested significantly in infrastructure may be looking to upgrade to maintain a competitive edge in the coming year. 2023 business software will have many more options to choose from. 

Environmental Sustainability Will Be Increasingly Important for Companies 

Even as more governments move to implement legislation that requires companies to make products sustainable by design, many consumers are also increasingly aware of the environmental impact of their products' lifecycles and are seeking ethical solutions. "Sustainable by design" refers to a group of concepts surrounding product creation and manufacturing, including using minimal physical materials, reducing any adverse environmental impacts, and creating a circular system for recycling older devices. In addition to being required to implement changes thanks to government decision-making, companies are also being encouraged to make and use sustainable products by their own shareholders to lower energy costs and carbon footprints. 

One example of this would be a company deciding to employ the services of a data processing center specifically designed for maximum energy efficiency instead of carrying out its data processing using its own facilities. This will lead to significant savings for your business and help drastically lower your energy bills while simultaneously reducing your carbon footprint. In addition, examining how your company is using electricity can be incredibly useful in uncovering additional strategies and areas where energy consumption can be streamlined and improved. 

Appropriate Scaling and Remote Work Are Crucial for Economic Uncertainty 

On top of the pandemic, which continues to have global impacts, various military conflicts, unexpected shortages, extreme weather events, and economic upheaval have contributed to a greater sense of unease for businesses of all kinds going into 2023. As mentioned previously, one of the significant advantages of SaaS and cloud technology is that it is scalable. A CIO can adjust the scope of services as needed to either save money or increase the efficiency of operations. This is especially true for thought workers who generally only require access to specific tools to be as productive as possible rather than needing daily travel to an office. 

Savvy CIOs may wish to use 2023 to reset their preconceived notions of what is required to make their businesses successful, particularly regarding whether or not employees must be physically present. Despite some larger corporations attempting to enforce in-office work via mandate and making fewer remote or flexible positions available, many workers have shown little desire to return to the old ways of doing business. Given that the data has demonstrated that SaaS-based apps and systems are equally, if not more effective, at helping to deliver essential data freely and easily, it may be worth seeing if your business could benefit from a more flexible approach. 

One of the simplest ways to do so is by scaling any services or ensuring that they sufficiently meet your business needs without being prohibitively expensive. Along with providing easy access to apps and programs regardless of physical location, SaaS and cloud-based programs can also be easily scaled up if you want to expand or cut costs and increase efficiency in the event of an economic downturn. By providing your company with flexibility for budget and technology, you can position your business to be prepared for any coming uncertainty. 

This year looks to be an exciting year for CIOs, so start getting ready to hit the ground running. Check out our other articles for more information on the best technology strategies for your business. 

About Dan Martin: Daniel Martin is a technology researcher and writer with more than a decade of experience. He is a professional librarian and an experienced tech teacher, writer and blogger. Specializing in technology, Dan has taught courses in technology and writing at the college level, developed web pages for businesses and higher educational institutions, written on tech topics for leading national publications and created numerous how-to guides.


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