The business sector focused on the adoption of technologies to protect their operations

Given the accelerated changes in the way of doing business worldwide, entrepreneurs took advantage of 2023 to adjust their business models by prioritizing the adoption of technology, according to the Technology Direction 2023 study by TD SYNNEX.

Particularly in companies in Latin America and the Caribbean, initiatives addressing environmental, social and governance (ESG) factors were overlaid by issues related to cybersecurity, networks, infrastructure and hybrid cloud.

According to the results of the study, only 8% of entrepreneurs in the region offer ESG reporting and accreditation solutions, vis-à-vis 33% of North America and 32% of Europe. Meanwhile, 16% of entrepreneurs plan to offer them in the next two years.

At the moment, the investment priorities of the 77% of respondents are technological training and certification; For 74%, it is demand generation and marketing digital, and for 66%, investment in cybersecurity standards.

“The particularities of Latin America are reflected in the data produced by our study this year. The results are revealing in multiple ways; Partners in the region are preparing significantly for a changing reality, adjusting their priorities and business offers, as countries in other parts of the world do, but the guidelines are different and take into account their situation and the parameters observed in its ecosystem,” commented Otavio Lazarini Barbosa, senior vice president of TD SYNNEX for Latin America and the Caribbean.

The conclusions of the regional report are based on the segmented results of a survey of 550 company partners. The interviewees are located in Europe, Asia-Pacific, North America and Latin America and the Caribbean, with the latter region being the second with the largest number of respondents, with 22% of the total, after Europe.

The companies indicated that they will invest, over the next 24 months, in technologies for their clients, particularly in cybersecurity (61%), networks (45%), hybrid cloud and server and storage infrastructure (40%).

Meanwhile, the results of the study show that, in just one year, TD SYNNEX partners offering artificial intelligence increased, from 4% in 2022 to 29% in 2023which represents a significant increase of 625%.

Likewise, investment plans in artificial intelligence for 2025 more than doubled among partners, going from 14% in 2022 to 34% for this year, the study details.

In addition, it is also mentioned that, during 2023, investment in security boosted the income of 73% of the companies surveyed, 60% indicated that networks, while 52% also indicated that servers and storage boosted their income.

Another of the changes reported in the business models of companies was directed towards services and consumption. 84% of partners in the Latin American region mentioned that they will increase the sale of professional services in the next three years, and 82% will increase the sale of managed services.

Challenges continue

The challenge in hiring employees is not only faced in Puerto Rico, but is a problem worldwide. Seven out of 10 companies believe that attracting and retaining talent is a “key challenge”, and for 45% the situation will continue in the next two years, according to TD SYNNEX.

Thus, despite the fact that the growth expectations of companies in the region fell slightly when compared to 2022, More than 70% of those surveyed expect to see some growth in 2023, of those, 50% foresee that the increase will exceed 10%. Meanwhile, 14% expect a decrease in their income.

In the case of Puerto Rico, 52.4% of the island’s merchants expect their sales to increase in the next six months, while 34.5% projected that they will stay the same and 13.1% anticipated that they will decrease.according to the results of the Puerto Rican Entrepreneur Confidence Index (ICEP) of Puerto Rico by Estudios Técnicos, Inc.

“We are pleased to witness the enormous capacity for adaptation and response that our partners demonstrate for the future,” stressed Marcos Murata, vice president of TD at SYNNEX in Latin America and the Caribbean, regarding the results obtained in the study.