The CIO Survey is a global technology trend report published annually by Harvey Nash and KPMG. Featuring the opinions of over 4,200 technology leaders and now in its 22nd year, it is one of the largest technology reports that exists today.
Data gathered in this year's edition reflects on the effects of the pandemic, offering a unique insight into the minds of our technology peers; how they're navigating the new normal and their plans for 2021.
COVID-19 increased our IT budgets by approximately 5%
During the first few months of the pandemic, IT departments had to act fast, setting employees up to work from home securely and meeting customer demands with digital adaptations. For most organisations, IT spend is now at an all-time high, 29 percent of survey participants believe that the pandemic has permanently increased investment in business managed IT. This surge in investment has left many companies questioning their IT spend and how they can balance, the balance sheet.
Two strategic drivers remain the same when considering IT investment: operational efficiency and customer engagement. But the lens in which decisions are being made has shifted. Short-term decision making remains the order of the day, though leaders say they may be more confident about longer and mid-term planning as we move into the new year. Flexibility remains key as we continue to venture into the unknown.
Out are long-term, riskier investments (such as ERP), in are quick innovations on technologies such as Microsoft's Power Platform, empowering creative 'citizen developers' within the organisation. Today's decisions centre around how technology can manage cashflow, drive innovation speed to market, and realise value sooner.
Each sector has its challenges and opportunities