In the last year, we have seen huge leaps in emerging technologies set to make our lives easier, safer and more efficient. 2019 saw The Internet of Things, Augmented Reality, Cloud technology and Edge Compute becoming common terms outside of tech circles for the first time.
Next year will see brand new technologies treading the path towards becoming more mainstream. As well as the democratization of technologies which have been emerging steadily in recent years. These are more than just tools for digital transformation. They are business trends to prepare for, understand and add to your arsenal. Because you can guarantee your competitors will be adapting their business models.
In this article we will discuss the top digital transformation trends as described in a recent Forbes article and their likely impact on HR and payroll services, software and systems in 2020.
2020 is the year that many major global networks will roll out 5G to their customers. Handset makers such as Nokia are reacting with 5G-ready phones preparing for launch.
This development marks a significant improvement in internet speeds. This will give a boost to IoT technologies which need more bandwidth to function optimally.
For companies, 5G will herald a more flexible approach to work. Employees will be able to access the full spectrum of working tools from anywhere on any device. This will have implications for employee wages, expenses payments and payroll as workers spend more time out of the office.
In tandem with 5G, the rollout of WiFi 6 in 2020 will mean faster processing and connection speeds for more people, more of the time. The biggest change will be in the number of devices these new networks can handle. A particularly important attribute given the growing number of devices.
The advent of WiFi 6 opens the door to scaling and accelerating the use of big data and data analytics, and all the benefits that they entail. Companies may need to hire new tech employees to handle this increased capacity.
ACPCs are laptops or PCs with mobile phone-style connectivity. In 2020, these smart devices will be hooked up to 5G and LTE connected.
Battery life on such devices will have improved by 2020, some even lasting a few days. This is another way in which remotes teams can connect and become more flexible in their roles.
Making decisions blind will breathe its last in 2020. Companies will use improved data collection and machine learning to identify, diagnose and solve problems based on the facts presented to them.
With greater access to data analytics, HR and Payroll professionals will have the tools to strategize to improve efficiency, productivity, and profit for their business by providing key business insights.
Payslip global payroll technology delivers visibility into the global workforce and payroll landscape through real-time reporting and predictive analytics. Comprehensive payroll reports can provide the necessary overview of the entire global payroll process and provide valuable data to help the senior management to make decisions and plan for future growth and expansion.
AI and Machine Learning
Artificial intelligence will improve to such a point in 2020 that it will be able to sift through gathered data more quickly and efficiently.
This will improve efficiency and productivity for HR teams, leaving them free to focus on human tasks such a strategy. The employee experience will be improved too. HR staff will automate time-consuming tasks like onboarding, employee data input and expenses.
2020 will see the growth of Artificial Intelligence, an already burgeoning sector. Software that can follow complex conversations with emotions is in work at Microsoft. Elsewhere, we are seeing hardware that can detect human voices amongst other noise and process everyday language in real-time.
HR teams will be able to harness this technology to save time and effort. The use of chatbots will answer repetitive employee questions, manage employee hiring and onboarding.
In 2019, Cisco used Robotic Process Automation to train and improve the value of their workforce. In 2020 this is likely to become a growing trend across global industries.
RPA means that repetitive tasks are no longer the responsibility of the human workforce. This leaves them free to add value to the business in other ways. HR professionals will need to manage this transition. This may involve reassigning skilled workers and hiring new technical managers.
For Payroll Departments RPA can breathe new life into your payroll process, creating fast and consistent workflows. It needn’t replace your payroll team instead, it frees them up to deal with non-standard requests that take time to address. It also enables them to think more strategically, analyzing payroll data for valuable insights that could help to refine operations further.
Before 2020, blockchain was only widely used in the sphere of cryptocurrency. Amazon Web Services became one of the first companies to change that with their subscription-based blockchain-as-a-service platform.
In one of the most exciting transformation programs, blockchain technology will expand its scope in 2020. It will make payments safer, manage intellectual property and royalties and even real estate.
For HR and Payroll teams, blockchain will transform candidate credential verification, cross border payments, automation of routine processes and fraud prevention.
Smart cities comprise a combination of several digital transformation initiatives. We can expect Uber’s exploration into autonomous cars and Amazon’s discoveries with regards to unmanned drones to reach completion this year.
HR teams will need to manage the changing nature of the workforce as the most technologically advanced cities in the world become “smart”.
Everything-as-a-service will gather pace in 2020. Hewlett Packard will lead the movement, offering everything in their portfolio as a service by 2022.
HR teams will see the software they use becomes scalable, more efficient and more flexible.
In 2020, companies will need to manage the user and customer experience as these new technologies become a part of everyday life.
HR teams will need to manage change proactively. Keeping employees onside, prepared and trained for technology roll-outs.
Following several huge privacy breaches and the introduction of the GDPR in Europe, digital privacy is a buzzword to watch in 2020.
Successful digital transformation is not complete without a failsafe cybersecurity policy. HR teams will need to conduct training on data security. They will also have to ensure that the data gathered about employees is carefully stored and free from security issues.
Prepare for 2020 by considering the impact of these digital transformations on your industry and your business. With global payroll technology, you know that your systems and processes demonstrate current best practice on every level.
For further information on how to run a successful digital transformation strategy across payroll globally, contact Payslip today!