57% of companies plan to invest more in ICT within two years, but budgetary constraints will be a major obstacle

The COVID-19 pandemic has accelerated the adoption of technology in organizations around the world to fuel their digitization and adapt to the demands of an era when telecommunications were implemented and businesses needed to serve their customers by line. Now, a study by Telefónica Tech concludes on 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 constraints budgets 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 had intensified their ICT strategy. East. And they are now better placed than before (60%), but they are still 28% to admit that they only take care of immediate needs.

He also points out 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, indicates that 48% of organizations (in Spain, 42%) have consulted advanced ICT strategic plans (including collaborative and cloud technology) to combat the pandemic. For their part, 31% of companies changed their activity quickly and reviewed their ICT, 17% analyzed the technology at their disposal and used it more effectively, and of those questioned, only 2% admitted to not having made no changes.

more efficiency

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

Respondents also highlighted the importance of greater collaboration across the business to make better ICT decisions (47%). This point was particularly highlighted by companies in the health (72%), agriculture (69%) and energy (67%) sectors. Tellingly, 31% of study participants (26% in the case of Spain) say they were exposed to potential security breaches due to poor remote working practices before the pandemic.

The balancing carried out by the companies also shows that 20% were not using the tools available with them, because 15% had made bad decisions in ICT before the pandemic. Additionally, 13% of respondents admitted that they could not combine old processes with new technologies, but that change had to happen at the same time.

According to the study, the pandemic has posed several significant challenges that businesses will now face. 44% of them (45% in Spain) admit that, despite improving their technical skills, they need to implement people-based processes, for example, analyzing how technology is used, Seeing how to share data and working together and involving 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 for employees to meet new operational requirements (this is confirmed by 39% of them), allocating time to review and update on the company’s situation. Deciding on the next step to take (35%) and trying to better leverage data to gain strategic insights (21% of them).

Businesses face significant hurdles in realizing their strategic ICT aspirations. These included: budget and internal skills constraints (with 41% and 32%, respectively), partner limitations (30%), and choosing an unproven technology and strategy (24% for of them).