Irish business leaders expect to invest an average of almost €750,000 in IT by end of 2022.
Prevailing supply chain bottlenecks mean that Irish businesses are purchasing older technologies.
A survey of 100 C-suite executives from Irish enterprises commissioned by IT services business Auxilion and conducted by Censuswide reveals that Irish business leaders expect to invest an average of almost €750,000 in IT by the end of 2022.
“While it’s not always about having the latest technologies, businesses need to ensure they are implementing the right solutions which will help them to innovate, thrive and grow – not just today but in the future”
Almost half (48%) of Irish organisations are increasing their IT spend over the next 12 months.
In terms of their areas of focus during this period, Irish business leaders are prioritising sustainable solutions (41%), cloud environments (38%), automation (32%), business analytics (31%) and hybrid working practices (30%).
However, the study found that supply chain issues have caused challenges for 67% of respondents when resourcing technologies. In fact, a similar proportion (68%) have made recent IT decisions based solely on the current availability of technologies.
As a result of such issues, the survey found that some 58% of business leaders have purchased older technologies. This is despite 65% agreeing that purchasing older technologies will have an impact on the performance and life span of same.
Perhaps unsurprisingly, the study found that supply chain issues (33%) were cited as one of the biggest obstacles to successful IT strategy delivery. This was followed by changing workstyles (32%) and staff not having the knowledge to effectively use IT (32%).
The research also shows that 80% of Irish organisations currently outsource part or all of their IT needs to a partner, while two-thirds (66%) of business leaders agree they are looking to replace their IT partner or engage with a new one.
“Our survey shows that business leaders are compromising on their tech due to supply chain issues,” said Philip Maguire, CEO of Auxilion.
“Out of necessity and because of availability, organisations are opting for solutions that will only serve them in the short-term. In turn, this is hampering their long-term strategies and goals, while stifling digital transformation.
“While it’s not always about having the latest technologies, businesses need to ensure they are implementing the right solutions which will help them to innovate, thrive and grow – not just today but in the future. This means investing across the board, from technologies and partnerships to training and resourcing.
“If these elements are chosen carefully and work effectively, the chances of getting a return on investment via technology are maximised – something which is more important than ever in what continue to be uncertain times. What is certain is Irish companies need to continually adapt and invest in their digital strategy if they are to drive success for themselves and their customers,” Maguire said.
Main image: Philip Maguire, CEO of Auxilion