Tech Budgets Rebound as Technology’s Role in Navigating Pandemic is Realized

CIO Pandemic Business Impact Study, revealing that IT budgets are rebounding.  While the first study in this series – CIO COVID-19 Impact Study, April 2020 – highlighted how IT leaders initially responded to the coronavirus pandemic and explored how prepared their organization was to face the disruption, this iteration explores organizations’ digital business mindsets due to the pandemic, the technologies they need to succeed in these regards, and when/how they expect a return to the office. According to the results, although cost control/expense management remains top of mind, organizations are realizing the necessity of technology solutions to enable them to steer the business during these turbulent times.
” data-reactid=”13″>Boston, MA, Aug. 27, 2020 (GLOBE NEWSWIRE) — IDG’s CIO – the executive-level IT media brand providing insight into business technology leadership – releases the CIO Pandemic Business Impact Study, revealing that IT budgets are rebounding.  While the first study in this series – CIO COVID-19 Impact Study, April 2020 – highlighted how IT leaders initially responded to the coronavirus pandemic and explored how prepared their organization was to face the disruption, this iteration explores organizations’ digital business mindsets due to the pandemic, the technologies they need to succeed in these regards, and when/how they expect a return to the office. According to the results, although cost control/expense management remains top of mind, organizations are realizing the necessity of technology solutions to enable them to steer the business during these turbulent times.

Supporting this budget growth is the fact that 59% of IT decision-makers (ITDMs) say that the effects of the pandemic are accelerating their digital transformation efforts. Also, more than half (54%) say they are adding new technology projects to their 2020 roadmap to create a competitive advantage given shifts in their industry due to the pandemic.

“As organizations continue to drive business, address customer needs, and support their workforce in these challenging times, it’s inevitable that new technologies and solutions will need to be evaluated and put in place for companies to evolve,” said Sue Yanovitch, VP of Marketing, IDG Communications, Inc. “Whether it be additional collaboration tools, security controls, or analytics programs, many IT leaders are having to shift their processes and roadmap due to great disruption.”

New to this study, CIO asked ITDMs how their digital business objectives have changed in importance as a result of the pandemic. Close to two-thirds (64%) said that increasing operational efficiency rose in importance, followed by creating better customer experiences (58%), and improve security (58%). The pandemic has certainly shifted goals around a DX strategy. According to IDG’s 2019 Digital Business Study, improving security was a top DX objective for only 42% and 53% were looking to improve operational efficiency.

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“IT leaders need to continue to network with and learn from their peers. With the lack of face-to-face opportunities, they are turning to a variety of virtual offerings,” said Yanovitch. “Whether that be an educational webcast or webinar, conversational networking event, or multiple day virtual tradeshows, these platforms provide tech decision-makers the opportunity to connect, learn and bring new solutions and best practices back to their organizations.”

The Innovation Reset: Resilience, Endurance, and Renewal – the CIO 100 & AGENDA 20 Virtual Symposium, Conference & Awards. The top CIOs in the country will open their playbooks and share details of innovative programs that solve a broad range of today’s IT challenges. Connect with us to learn about our sponsorship opportunities for this 4-day virtual event held October 6th, 7th, 13th, and 14th.” data-reactid=”29″>Join the Conversation
These times demand serious innovation. To meet that need, CIO is announcing The Innovation Reset: Resilience, Endurance, and Renewal – the CIO 100 & AGENDA 20 Virtual Symposium, Conference & Awards. The top CIOs in the country will open their playbooks and share details of innovative programs that solve a broad range of today’s IT challenges. Connect with us to learn about our sponsorship opportunities for this 4-day virtual event held October 6th, 7th, 13th, and 14th.

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CONTACT: Stacey Raap Senior Marketing & Research Specialist IDG Communications, Inc. stacey_raap@idg.com 508-935-4008

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