- 85% of IT decision makers have seen an increase in technology cost since the pandemic, but only a third report tangible value from new investment
- 62% are experiencing technology drift – defined as a higher gap between what companies are trying to do and what they actually achieve – as a result of rising costs
London, UK; 29th March 2022: Technology spending for IT decision makers has risen an average of 43% since the pandemic began, with 62% also experiencing technology drift in their company. That’s according to Orbus Software, a leading provider of cloud solutions for digital transformation, which surveyed IT decision makers across the US and UK to determine the increased pandemic financial demand.
The most common cause of increased spending was revealed as onboarding of new technology to support work from home and hybrid employment (71%), increasing technology costs (69%), and the introduction of new IT regulations. (56%).
However, when it comes to onboarding new technology, only 30% say all new onboarded technology brings tangible value, with 51% saying ‘most’ have. The majority (79%) say all or most of the technology purchases in the past 24 months were planned in advance, compared with 13% who say they were last minute. The study found that the UK is more prone to last minute investments than the US (17% vs 9%).
Michael D’Onofrio, CEO at Orbus Software, commented: “The past two years have undoubtedly increased the importance of technology, but this technology is moving – where there is a growing gap between what companies do and what they actually achieve – poses huge problems. Despite the increase in spending, not even a third of organizations can say it has delivered a certain amount. “
To combat these challenges and plan for future technology and software purchases, 80%of respondents say their company is onboard (34%) or have plans to onboard (46%) an Enterprise Architecture tool. On a deeper dive, the survey found that nearly half (47%) boarded Enterprise Architecture because of rising technology costs and 46% wanted to narrow the gap between IT and business stakeholders. At the same time, 41% bring Enterprise Architecture to simplify increasing complexities, and 39% say they need to have greater visibility before moving to the cloud.
“We are currently in a time of significant conflict, and organizations need to pivot frequently. As a result, organizations need reliable core services that give them visibility, reliability and agility,” D ‘continued. Onofrio. ”It’s very important to have a tool that can give companies visibility and insight. Without Enterprise Architecture, the challenges facing IT teams will continue to be out of hand. ”
The survey also revealed IT roadmaps across the UK and US. It was found that 95% had a technology roadmap in place to assist in purchasing technology knowledge. They typically plan for the next 6 (26%) or 12 months (37%). However, 14% have an 18-month roadmap and 19% with 2 years or longer.
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About Orbus Software
Orbus Software is a global enterprise software vendor and a recognized leading provider of cloud solutions for digital transformation. Its products drive alignment between strategy and implementation by using familiar Microsoft, ServiceNow and other best-in-class cloud solutions to ensure rapid enterprise adoption and market-leading innovations .
Orbus Software’s customers are mostly large, blue chip businesses and government organizations located throughout the Americas, Europe, the Middle East and Africa and the Asia Pacific region, covering all industry verticals. The company is customer -centric at its core, and is fully committed to delivering technology innovation that further accelerates customer success. Examples of global customers include AstraZeneca, IKEA, BP, Dell, Mastercard, New York Power, Mayo Clinic, Rio Tinto, Brisbane Airport, CIB Bank, Schroders and Saab.
https://orbussoftware.com
Media interaction:
Victoria Hourigan
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07584769496