From fintech to pharma, Vaco experts explore key trends at Technology Overload

Vaco - Tech Overload

by Troy Woolery

Troy Woolery, Director of Digital, Vaco in Cincinnati

In my experience, a lot of companies seem to know why they need to institute a process for digital transformation, but they may not know how to execute that process. That’s where Vaco comes in. 

Vaco’s technology leaders are dedicated to helping companies understand the functional aspects of digital transformation. We also provide education and insight on the trends and changes that are impacting companies’ digital initiatives.

Let’s look at four focus areas in digital transformation that will affect a plethora of industries this year: 

Significant fintech trends in 2022

A large number of businesses in the financial technology sector continue to pivot toward digital transformation, and three key disruptors are driving this technological evolution: the ongoing global pandemic, the ever-changing technology landscape, and the ongoing lean innovation cycles of tech startups.

While businesses try to figure out the digital solutions they need to respond to these disruptors, the number of customers who expect and demand instant, device-agnostic access to services continues to increase.

In other words, businesses in the fintech space can no longer aspire to be more digital; they’re expected to be.

Read more: Check out this recent article for more insight on mobile banking, blockchain and other important fintech trends in 2022.

The importance of API security

There were a number of high-profile cyber attacks last year, and so far in 2022, Montreal’s tourism agency and the Maryland Department of Health are just two of the entities that have already fallen prey to ransomware attacks.

In addition to the ransomware attacks, there has been no shortage of notable API security incidents, either. That’s why so many of us at Vaco, including experts in our Managed Services division, are paying special attention to API security in the digital and data realms and working with businesses to provide strategic guidance and functional execution.

Read more: If you can’t wait for Tech Overload and want to learn more about API security and management right now, take a look at this article.

Digital transformation in pharma

According to this report from Statista, the global online pharmaceutical market is estimated to be worth $128 billion by 2023, with more than 340% expected growth in nine years.

The question is, are pharma companies equipped to handle that kind of astronomical growth? The simple answer: only if they are prepared to increase spending on digital investments.

This advice doesn’t just apply to pharmaceutical companies looking to kickstart digital transformation. All businesses can benefit from learning how to expand their digital functionality to meet the demands of an always-evolving consumer base.

Read more: Check out this article to learn how pharmaceutical companies can address the acceleration of consumer needs with digital.

The state of digital in retail

The COVID-19 pandemic had a profound impact on the retail shopping experience. Particularly within the first few months, as digital retail and eCommerce exploded, companies that were able to offer customers a solid digital experience were able to survive—and even thrive.

But as the world continues working towards a return to some semblance of normal, businesses should not expect their customers to go back to their old ways of shopping. Experiential retailing is a concept that is here to stay, and advancements in technology have opened the floodgates for the creation of new delivery and fulfillment options. 

It’s safe to say that the convenience of online shopping, coupled with the expediency of delivery, will only accelerate the need for retail businesses to scale up their digital initiatives.

Read more: Read this article for more insight on digital transformation in the retail space.

Learn more about technology solutions at Vaco in Cincinnati.


About Troy Woolery

Troy Woolery is the Practice Leader of Vaco’s Digital Practice in Cincinnati. He feels privileged to work for a company that entrusts its people to build together, and to bring client strategic and tactile support at a market level – versus a “one size fits all” model. His team provides a holistic user-experience support (from initial research support through pre-deployment prototyping) as well as expert site and performance optimization through our content marketing services.

The Digital Practice also curates and provides the very best in digital management resources – managers who have established pedigrees across digital campaigns. Finally, they provide industry-leading digital accessibility support – from initial site audits to holistic analysis that can ensure inclusivity while also saving corporations litigation fees.

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