Every CEO is figuring out the right balance for new hybrid business models. Regardless of the chosen approach, which will vary, technology executives understand they must accelerate digital and build resilience as well as optionality into their platforms. This is driving a dramatic shift in IT investments at the macro level as we expect total spending to increase at 8% in 2021, compared to last year’s contraction. Investments in cyber security, cloud, collaboration to enable hybrid work and data, including analytics, AI and automation are the top spending priorities for CxOs.
The world witnessed a historic shift in the 2020 job market due to the Covid-19 pandemic. While some companies used to offer the ability to work from home as a perk, it has now become the norm for most businesses. By 2025, an estimated 70% of the workforce will be working remotely at least five days a month. While 2020 may be considered the year of remote work, it is just the beginning as we see the trend continuing in 2021.
The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR).
ETR in September surveyed about 1,200 chief information officers from around the world across different industries.
The CIOs also expressed increased optimism about business prospects in 2021, as they see an increase in tech budgets by 2.1%, compared with a 4.1% decline this year due to the lockdowns triggered by the pandemic.
In a world of distributed work, protecting data means personalizing security to the individual.
Today’s enterprise is truly unbound by the constraints of previous generations. In a recent survey of more than 1,000 CIOs conducted by Enterprise Technology Research, IT decision-makers expect permanent remote work to more than double to 34.4%. This is thanks in part to a favorable view in productivity through the pandemic, with 48.6% of respondents reporting an increase compared with 28.7% reporting a decline. The same survey showed cybersecurity as the top priority in IT for 2021, no surprise given this anticipated shift in the nature of work.
Global companies whose revenues have taken a hit during the coronavirus pandemic plan to cut technology spending this year by as much as 4.1%, according to the latest survey from U.S.-based Enterprise Technology Research (ETR).
But that forecast drop in tech budgets would be less than initially feared because many companies actually intend to accelerate spending to support thousands of employees that now have to work from home as majority of governments around the world ordered national lockdowns.
Slack is still king at startups.
Nearly 60 percent of startups pay for Slack’s workplace communications software, according to new data from Kruze Consulitng, an accounting firm that analyzed anonymized spending of its nearly 200 venture capital-funded startups. That percentage has declined slightly from last quarter but is still much higher than its competitor Microsoft’s similar software.
For CIOs, trying to manage IT spending in a world upended by COVID-19 is like driving at night with headlights that dim unexpectedly: suddenly you can barely see the road in front of you and beyond that everything is completely obscured.
Economic forecasts make for scary reading. Goldman Sachs is now predicting a 6% quarter-on-quarter drop in U.S. GDP in the first three months of the year and an unprecedented 24% decline for the second quarter. Previously Goldman had forecast a 5% decline in Q2. Other forecasters are also becoming much more bearish.
Amazon.com Inc. and Microsoft Corp. appear to be tightening their grip on the enterprise information-technology market, thanks to a head start in cloud computing and ongoing industry consolidation, according to market-research firm ETR.
Amazon or Microsoft were cited as the preferred vendors in over half of the top 30 products and services listed as information-technology spending intentions by more than 800 chief information officers and other high-level corporate decision makers, the firm said, based on survey results gathered since early March.
Enterprise Technology Research (ETR) surveys 4,500+ IT decision makers about their evaluations and spending intentions on 579 technology companies across enterprise IT. ETR has visibility into $900B+ of annual IT spend and has aggregated millions of spending intention data points since 2010, spanning publicly listed and private technology companies. ETR is able to use this data and identify trends + investment opportunities through logistic regression, time series modeling, and peer benchmarking/market share analyses.
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