STORY INLINE POST
In the Mexican business world, the digitization of processes has become a strategic imperative for those organizations seeking not only to stay afloat, but to thrive in an increasingly competitive and changing environment. But what are the most relevant trends in the digitization of processes for companies in Mexico, and are there verifiable statistics that illustrate the magnitude and importance of this phenomenon?
The last year in which INEGI and the Ministry of Economy, in collaboration with the Mexican Association of Secretaries of Economic Development (AMSDE), presented the results of the National Survey on Productivity and Competitiveness of Micro, Small and Medium Enterprises (ENAPROCE) was in 2018. As a result, we do not have a recent statistic that shows us the current picture, after a pandemic, on the state, progress or setbacks of our companies.
The ENAPROCE 2018 provides basic statistical information, such as productivity, competitiveness or managerial capabilities, which represent a fundamental tool for monitoring the performance of companies and the economic sectors to which they belong.
A revealing fact about trends in companies in terms of having measurement indicators is that 28.2% of SMEs monitor three to five key performance indicators and 8.8% monitor 10 or more indicators, while 66.5% of microenterprises do not monitor indicators. Here, the interesting factor is to know why they do not monitor them, as this is where the role of digitization of processes comes in. How much relevant data for business is being lost because they do not have access to technology?
While we wait for concrete official data on the evolution of companies in the country, let's review those trends that are marking the digitization of business.
Cloud Computing: The Cloud as a Strategic Ally
The use of cloud services has experienced exponential growth in Mexico in recent years. Mexico has long had an established market for cloud technology; data from the consulting firm International Data Center (IDC) has been the fastest-growing technology in the Mexican market. In 2020, during the pandemic, the adoption of the corporate cloud grew 35% in the country. Regionally, the IDC estimates that it will grow by 30.4% in Latin America by 2023.
Mexican companies are migrating their operations to the cloud to take advantage of benefits such as scalability, flexibility and reduced operating costs. Platforms such as Microsoft Azure, Amazon Web Services (AWS) and Google Cloud are leading this digital revolution, allowing companies to improve efficiency and agility in their processes. Consulting firm Gartner also predicts that by 2025, 80% of organizations will have migrated from on-premises data centers to cloud hosting.
Robotic Process Automation (RPA): The Virtual Robot Revolution
This type of "robot" is just a new name for a familiar concept. Robots, or software bots, refer to what most know as agents that run the automation solution. A bot can be installed on a PC, a physical server or a virtual machine.
Process automation using virtual bots is gaining ground in the Mexican business landscape. Companies are adopting RPA to automate repetitive tasks and manual processes, freeing employees for more strategic activities. This trend not only improves productivity, but also reduces errors and increases accuracy in business processes.
Digital transformation is not only about improving internal processes, but also about delivering exceptional customer experiences. In Mexican retail, the adoption of technologies such as e-commerce and mobile apps has been remarkable.
According to the Mexican Online Retail Association (AMVO), online sales in Mexico grew by 23% in 2022, and this figure is expected to continue to rise. Companies are investing in e-commerce platforms, digital payment methods and digital marketing strategies to improve the customer experience and stay competitive in an increasingly digitized market.
Data Analytics: The Key to Informed Decision-Making
Data analytics has established itself as a fundamental tool in the digital transformation. While that is true, the amount of data varies by company. Just as a AAA company has a vast amount of data, so do SMEs, only on a smaller scale. But what good is data if SMEs do not use it? They may even be able to obtain data they didn't know about by using specialized data collection programs.
If your company is just starting to take a different approach to its data, it is common to find yourself in this situation. You have the information, but without any order or meaning, making it difficult to interpret. it is just a bunch of numbers and words. To give it the necessary relevance, the data must be converted into a data hub. Simply put, it's about standardizing your data, separating it, distributing it and organizing it in a way that is easy to understand.
Analytics platforms are being adopted to analyze large volumes of data and extract valuable information. The ability to make informed decisions based on data is essential for competitiveness in today's market.
Digitizing Your Processes
The digitization of processes in Mexican companies is not just a trend; it is a necessity. The statistics presented reveal the rapid advance toward a digitized business ecosystem, where agility, efficiency and innovation are key.
Companies that embrace these trends and adopt digital transformation strategies will be better positioned to meet future challenges and take advantage of emerging opportunities. The key is to understand that digitalization is not simply a technological investment, but a fundamental evolution in the way companies operate and create value in the Mexican economy.
At Mibi, we know that there are different barriers, both in the organizational culture itself, as well as economic barriers, which is why we bring technology closer and make it accessible so that the digitization of your processes is an easy issue to adopt. We make tailor-made suits so that companies can see the changes and benefits in the shortest possible time, and with a fair investment.
To be Considered:
The significance of technology access in business extends far beyond what many perceive. For small firms, technology acts as an equalizer, enabling them to stand toe-to-toe with larger competitors. Furthermore, nascent businesses that harness the power of technology often enjoy longevity, fostering improved working conditions for their employees.
The ability to make data-driven decisions is paramount for entrepreneurs. It's not just about having detailed insights into the day-to-day operations of their business, but also about possessing the tools to monitor external changes that might necessitate a shift in their business strategy.