NEW YORK, NY, July 22, 2008 - PricewaterhouseCoopers LLP (PwC) today released a new publication containing in-depth analysis of new technology trends that are reshaping the way companies are doing business as they face a rapidly-changing business landscape. Originally published between 1996 and 2003 in book-length, the newly re-launched Technology Forecast has been recast as a quarterly journal. The companion website, www.pwc.com/technologyforecast, contains additional insight and greater depth on specific topics.
The inaugural issue discusses three emerging themes in technology driven by one overpowering trend: The accelerating pace of change which is now forcing companies to deal with multiple, simultaneous, disruptive business issues. The three themes focus on IT complexity management; the emergence and use of Enterprise Web 2.0; and the convergence of business intelligence, business process management and business rules management into one software suite.
"Business leaders are recognizing that response to multiple simultaneous changes in the business environment is now the norm," said Paul Horowitz, principal and Advisory Technology Leader at PricewaterhouseCoopers. "It is our goal to provide insight and forward-looking perspectives that help organizations anticipate and manage that change. Together we accept the ongoing challenge to leverage technology to create more-competitive, more-innovative, and more customer-friendly enterprises."
The highlights of the three themes that will help companies make more efficient business decisions in a changing environment include:
Making Complexity Manageable
- More than 75 percent of about 1,400 global CEOs surveyed by PricewaterhouseCoopers in 2006 said the level of complexity in their organization is higher than it was three years earlier.
- As businesses and business processes have become complex, so has IT. IT complexity occurs not only in the operations, but also in the architectures, applications, and data solutions deployed in the IT environment.
- Complexity is a double-edged sword: Complexity creates value by bringing rich, new functionality and higher levels of automation to business operations. However, it can cripple an organization by causing management burden, lack of responsiveness, and out-of-control costs.
Operational Web 2.0
- For enterprises, Web 2.0 is about more than just interaction; it's about tools that can help devolve authority, empower the workforce, and build bridges between organizational silos.
- In general, improved interconnectedness will mean that work that used to get done in isolation can be done more effectively together. The degree of effectiveness will depend on how well enterprises can make the cultural changes necessary to result in true interconnectedness -- something tools alone cannot accomplish. With a high degree of interconnectedness, much more of the power of the informal organization can be realized.
Bringing Order to Chaos
- Enterprises that create value through rapid process changes are beginning to define a market opportunity for a pre-integrated suite of tools that supports intelligent business performance management.
- Vendors are developing and early adopters are implementing what PricewaterhouseCoopers calls intelligent business performance platforms. These platforms support and integrate applications, and they monitor and manage business processes and outcomes.
- The three core components of the emerging platform include business intelligence applications, business process management applications and business rules management applications.
- Going forward, one of the biggest changes in business intelligence will be the transition presently in progress toward active business management based on the use of real-time data.
"The new imperative of managing continuous change is the business driver that, together with key technology trends, will fuel the next enterprise transformation. Initiatives that improve management of IT complexity, leverage Web 2.0 capabilities, and adopt more efficient business performance platforms will be the key technology drivers. They will enable agile enterprise management and spur the development of new business models, organizational designs, and competitive responses," added Horowitz.
About PricewaterhouseCoopers' Advisory Practice
PricewaterhouseCoopers' business advisory professionals provide clients with the confidence to succeed by helping them anticipate, create and manage change. Whether clients are proactively implementing change or reacting to an unplanned event, we leverage our Firm's resources, deep industry experience, and functional acumen across the areas of operations, finance, organizational strategy and structure, process improvement, human resources optimization, technology integration and implementation, risk mitigation and crisis management to help organizations effect sustainable change.
PricewaterhouseCoopers ( www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 146,000 people in 150 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
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