Challenges that TTL enterprises must overcome to meet their strategic objectives

HFS surveyed around 65+ executives across all the verticals to understand what technical challenges TTL enterprises are facing to meet their strategic objectives and enterprise executives agree that data security, fragmented landscape systems and lack of centralized data are the top three challenges.

• Travel, Transportation, and Logistics are data-intensive industries combining data from different sources, which makes them vulnerable to cyber attacks, making them face the attacks very frequently. In many cases, enterprises feel it is a challenge to adopt the new technologies for the same reason.
• Many enterprises are still using their legacy systems, which makes them difficult to adapt to the new technologies fully. Sector particularly transportation and logistics have been facing huge transformation with around 3PLs and 4PLs need to integrate data analytics and supply chains data to provide better transparency, traceability, and predictability. With better data connectivity comes a huge level of risk challenges around cybersecurity.
• These challenges make it essential to implement security features while implementing new solutions particularly when we make solutions over legacy systems. The legacy system results in a fragmented data landscape over which we deploy the emerging techs. Risk assessment and mitigation strategies need to be implemented at every stage of the design while we plan the system.
• Managing, securing, auditing, and documenting the huge amount of data becomes a critical challenge for enterprises. Having a skillful data governance team will help them ensure that data is well stored and documented which can be used to add value to the business strategy.

The Bottom Line: The pandemic has accelerated digitalization of the TTL sector increasing the underlying data security challenges. Strong data management will be the key to meet their strategic objectives.

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