Defining a technological agenda that includes the development of online sales channels, digital marketing and improvement of processes and operations is essential for companies to meet the challenges they must overcome to compete in the new commercial reality.
Technology specialists agree that companies should focus on reinventing the role of technology in business.
Because companies dedicated to the provision of services are more effective than product manufacturers and their growth is more accelerated, economies such as those of Central America could bet on the outsourcing of technology services.
In this context of sanitary and economic crisis, generated by the covid-19 outbreak, several economic sectors were affected due to the restrictions imposed, but, in contrast, companies involved in the provision of technological services reported a significant growth.
Between July and October 2020, the number of people in Costa Rica exploring options to access an ERP-type software online increased 32%, and the number of Panamanian consumers looking to hire a CRM solution decreased 4%.
CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchasing patterns.
Coordinating work teams that work remotely, having updated information systems and incorporating the use of cloud applications to generate reports in an agile way, are some of the needs of companies in the new business scenario.
The return to on-site work is a reality that seems to be far away for some companies, which, faced with the imposition of restrictions on mobility, had to readjust their operations and migrate to digital formats.
In recent weeks, interest in the region's markets for electronic equipment, computers and technological services has clearly picked up, with educational software and computer security services being among the most marked trends.
Using a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData's Trade Intelligence Unit, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
Having general ideas of how a computer can look at an image and identify a stop sign, a pedestrian or a car, is fundamental for business leaders to be able to empower humans with the help of artificial intelligence.
The development of artificial intelligence tools suggests that human work will be abolished, something that could be far away, since these technological applications are for now used for the execution of specific business tasks and not for problem solving.
Applying artificial intelligence tools and complementing it with increasing the technological capabilities of employees is essential to significantly improve the performance of companies.
According to reports by Harvard Business Review, companies have been found to achieve the most significant performance improvements when humans and machines work together.
In a context in which the creation of digital records is increasing, investment in data analysis, technology and personnel becomes fundamental and essential to ensure the best possible performance in companies.
Advanced Analytics (AA), which can be executed from data from digital platforms, wireless sensors and millions of mobile phones, is transforming competition across multiple sectors by generating opportunities to capture value from improved decision making and comprehensive business transformation.
Although new jobs will emerge, technological changes will have a strong impact in the Central American region, where there is a high proportion of jobs with a high risk of automation.
According to forecasts made by the Inter-American Development Bank (IDB), in 2018 it was estimated that 75% of workers in Guatemala and El Salvador are in high-risk automation jobs.
From April 24th to 26th 150 exporters of services will be gathering together in Costa Rica with international buyers from sectors such as audiovisual, global health, information and communication technologies, education, biotechnology and green technologies.
The event is being organized by Cinde and will take place at the Real Intercontinental Hotel, where business conferences will also be held in which interested companies can participate.
Nearly three-quarters of newly formed companies arise from ideas that are not very innovative, and there are very few that are export-oriented.
This was revealed by the "National Report 2012: the state of entrepreneurship in Costa Rica". "The research, made with the methodology of the Global Entrepreneurship Monitor (GEM), shows that 73% of new companies created do not offer any new products or services to customers, while for established firms the ratio is 60 % ", reported Nacion.com.
Top of the list in the region is Panama (57 in the world), followed by Costa Rica (58), Guatemala (98), Honduras (99), El Salvador (103) and Nicaragua (131).
The Global Information and Communication Technologies Report 2012 is prepared by the World Economic Forum (WEF) in collaboration with INSEAD Business School. It has been published since 2001 and covers 142 countries.