Home Technology 57% of companies plan to invest more in ICT in two years, but budget constraints will be a major hurdle

57% of companies plan to invest more in ICT in two years, but budget constraints will be a major hurdle

The COVID-19 pandemic accelerated the adoption of technology in organizations around the world to fuel their digitization and adapt to the demands of a time when telecommunications was implemented and companies needed to service their customers online . Now, a Telefónica Tech study concludes about how this technological commitment was made and what will happen from now on. Among other things, it finds that 57% of global companies consult with plans to invest more in ICT (information and communication technology) over the next two years, and 35% do so, although budget constraints limit this strategy. The main limitation to accomplish. ,

The study, which collected responses from a total of 810 IT professionals in Spain, Brazil, Germany, the United Kingdom and the Republic of Ireland, indicates that most organizations confirmed that the pandemic intensified their ICT strategy. Is. And they are now in a better position than before (60%), but there are still 28% who admit that they only care for immediate needs.

It also highlights that 81% of global companies (72% in the Spanish case) admit that urgent ICT purchases made to adapt to pandemic conditions will not provide long-term strategic value. The study, titled Sowing Digital Seeds for the Future, said 48% of organizations (in Spain 42%) consulted advanced ICT strategic plans (including collaborative and cloud technology) to tackle the pandemic. For their part, 31% of companies changed their business quickly and reviewed their ICTs, 17% analyzed the technology they had and used it more effectively, and of those surveyed, only 2% admitted that they had not made any changes.

more efficiency

More than half of the companies surveyed also highlighted as key lessons learned in the pandemic that optimizing their technology strategy to people and processes generated significant efficiency gains compared to before. This result is more noticeable in companies in the biotechnology (80%), retail (76%), finance (72%), food and beverage (70%) and public administration (68%) sectors.

Respondents also emphasized the importance of greater collaboration within the company to make better ICT decisions (47%). This point has been particularly highlighted by companies in the health (72%), agriculture (69%) and energy (67%) sectors. Another revealing fact is that 31% of the study participants (26% in Spain’s case) say they have been exposed to potential security vulnerabilities due to poor remote working practices before the pandemic.

The balancing done by companies also shows that 20% were not using the tools available with them as 15% had made poor ICT decisions before the pandemic. In addition, 13% of those surveyed admitted that they could not combine old processes with new technology, but that change needed to happen at the same time.

According to the study, the pandemic posed several significant challenges that companies will now have to face. 44% of them (45% in Spain) admit that, despite improving their technical proficiency, they need to implement people-based processes, for example, analyze how technology is used, See how to share data and work together and involve employees in making decisions about how the company uses technology to innovate for future growth.

Other challenges to overcome

The companies surveyed faced other challenges such as the need for more training so that employees could meet new operational demands (this is confirmed by 39% of them), allocating time to review and take stock of the business situation. Deciding on the next step to take (35%) and trying to make better use of the data to obtain strategic information (21% of them).

Businesses face some significant obstacles in achieving their strategic ICT aspirations. These included: budget and internal skills constraints (with 41% and 32%, respectively), partner limitations (30%) and the choice of unproven technology and strategy (both 24%).