The Future of Software Investment in Halifax, Nova Scotia: Trends and Opportunities for 2023

To study the Canadian trends of software investment in 2023 in Halifax, Nova Scotia, one of Canada’s fastest-growing municipalities, we can use a recent survey by Capterra. Usually, the same ratios apply on a different scale to Halifax, Nova Scotia. According to this survey https://www.capterra.ca/blog/3293/tech-trends-in-2023-which-tools-will-canadian-companies-be-investing-in (Published in December 2022).

 The following are Canadian trends regarding software investment for 2023:

1. %56 of Canadian companies are intent on spending more on software and technology by around %15. Around one-tenth of these companies will devote %21 more than they did last year.
2. %44 of Canadian companies look forward to automating their supply chain operations, followed by %43 for cyber security.
3. The study also found that Canadian small and medium-sized enterprises are countering supply chain and cybersecurity disruptions by adopting digital solutions.
4. Canadian companies' top three business objectives:
5. 1. %34 want to increase employee productivity.
   2. %37 wish to boost revenue
   3. %35 want to get more market share
6. Companies anticipate the following challenges in the current fiscal year:
7. 1. %32 project management
   2. %30 Engaging customers online in a meaningful way
   3. %30 Supply chain management
   4. %30 The ongoing impact of the COVID-19
8. Canadian companies are more likely to seek government support for adopting technology than other countries.

My findings in Halifax, Nova Scotia

According to my information as I have been talking to many people about business and technology. Here are some findings:

• A typical company in Halifax, Nova Scotia, would be using multiple software tools and SAAS. Many businesses are found to be spending in various directions of technology, often needing a strategy to make it all work for them.
• In some companies, I found technology still working since the 1990s. Nevertheless, they were very hesitant to change.
• Some people I met received support for their technology adoption, but mainly in limited areas, such as building a website.
• Some large companies still use old unintegrated systems and have a vast technical workforce bill while having frustrated employees and customers.
• At the Halifax, Nova Scotia Partnership awards ceremony, I chatted with a local politician who mentioned that she tried working with the NS gov on an open-source initiative a few years ago, but it was costly.
• Generally, the business community must be aware of the latest business technology trends. They only start realizing what they are missing when we start talking.

The problem
I can see clearly from the above that in 2023 Halifax, Nova Scotia, businesses will continue spending on software and technology without the fruits they could instead reap. Spending on multiple disintegrated proprietary technologies leads nowhere but missed opportunities, lost market share, human errors, lack of data integrity, unsatisfied customers, and unnecessarily large bills for cyber security. Hence, if Canadian businesses remain unaware, overspending with low return on technology investment will likely continue.

The Solution
Usually, mature organizations select one of two strategies:

1. Best of Breed: The best software solution in every area, and try to integrate them to work as seamlessly as reasonably possible.
2. Single Platform: One software to cover all operations

Both strategies have their pros and cons. However, a third direction has the pros of both approaches while avoiding their cons: A single cloud-based open-source mobile-ready solution, scaleable up and down.

Why is it the solution? Let's take the trends one by one in the same sequence:

1. Single solutions will cost less, allowing companies to direct their increased budget to a better ROI. (%56 of companies)
2. Cloud-based solutions will result in a much less cyber security bill. (%44 of companies)
3. Supply Chain is better managed when all operations are integrated from end to end, internally and externally (from suppliers to customers).
4. Achieving business objectives:
5. 1. Less software training requirements per employee and fewer employees required to run the same operations lead to increased employee productivity. (%34 of companies)
   2. A single platform will allow companies to promote their products and services over multiple channels (retail, e-commerce, wholesale and B2B) without the cost of integration. (%37 of businesses).
   3. A cloud-based single solution directly integrated with social media gives more reach to potential clients across multiple platforms. (%35 of companies)
6. Challenges:
7. 1. Project management must be an integral part of the operations, connecting it to employee timesheets and costs and integrating projects with expenses and revenue for better decision-making. (%32)
   2. A customizable open-source platform will allow companies to engage customers in a meaningful way specific to the industry and customer needs. (%30)
   3. The supply Chain is covered above. (%30)
   4. Companies must be ready to adapt to the new norms of working from home, hybrid or office. A mobile-ready platform is a powerful tool for quickly adapting to future changes. (%30)
8. Less spending requirements will go a long way for all parties, government, companies and employees.

Conclusion

There is a general trend for Canadian companies, including those in Halifax, Nova Scotia, to invest in business automation, such as supply chains, project management, cybersecurity, and more. Business. Owners are now more than ever aware of the importance of business automation to increase revenue and employee productivity, gain more significant market share, and engage customers meaningfully online. This trend is encouraged by government support for this investment, in addition to emerging conditions such as the impact of COVID-19 and the need to work remotely.

All this encouragement of technological investment may backfire if technological development and business automation are not moving in the right direction. With this general trend, exorbitant bills are still being spent on cybersecurity. There are still human errors, missed opportunities, lack of data integrity, and so on, all due to relying on proprietary software.

After examining the statistics on business development and automation in Canadian companies, we can see that the best solution that the mature institutions can adopt is a single cloud-based open-source mobile-ready solution, scaleable up and down. All these advantages are available in Odoo, which are integrated through a single cloud platform, saving the cost of systems integration across different sites and reducing the cost of cybersecurity. Moreover, Odoo is easy to use, minimize training requirements, and integrate directly with social media to reach more potential customers across multiple platforms.

OdooTec is one of the most prominent Odoo golden partners, as it was nominated many times as the best partner for Odoo in Africa and the Middle East. It has already won the award for best partner for Odoo in this region for 2019.

OdooTec aspires to contribute to meeting the growing need for business automation in Canada and North America using Odoo. Don't hesitate to contact us for more information about how we can help you.

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