Romania, World: Economic uncertainty pushes companies to invest in new technology platforms

Two-thirds (64 percent) of organizations are adapting their technology strategy because of unprecedented global political and economic uncertainty. More than half (52 percent) are investing in more nimble technology platforms to help their organization innovate and adapt. IT budgets are growing: 79% of IT leaders have seen budgets upheld or increased this year, meaning that only one in five IT leaders (21%) have seen IT budgets cut.

While economic uncertainty is making business planning difficult for many organizations, it is clear digital strategies have infiltrated into businesses across the globe at an entirely new level. The proportion of organizations surveyed that have enterprise-wide digital strategies has increased by 52 percent in the past two years (from 27% in 2015 to 41% in 2017), and those organizations with a Chief Digital Officer have increased 39 percent over last year. To help deliver these complex digital strategies, organizations also report a huge demand for Enterprise Architects – the fastest growing technology skill this year, up 26 percent compared with last year.

Cloud computing has been a trend that has continued during the past year, with respondents investing in cloud less to save money, and more because IT leaders value the reliability, agility and responsiveness that these services bring.

The top three reasons for investing in cloud computing are: To improve availability and resiliency (41 percent), to improve agility and responsiveness (39 percent), to accelerate product innovation (34 percent).

“The political and economic landscape is dynamic and changing fast,” said Gabriel Mihai Tănase, Cyber & IT Advisory Director at KPMG in Romania. “Many technology executives have to adapt their strategy and plans, turning this uncertainty into opportunity, driving their organization to become more nimble and digital,” he added.

 

Read more about this analysis here, on The Financial.

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