It is often said that I love a good report and I am a sucker for stats, I've said it before in previous blog posts that 75% of all stats are made up which is probably true however they make a good topic to blog about.
According to a recent business analysts report that is focused on predicting the trends for 2022, the majority of business leaders are said to be forecasting a post pandemic revenue increase, 57% of companies expect their revenues to increase in 2022 & only 8% expect revenues to decrease
How does this affect the IT teams ?
IT budget growth is expected to accelerate through the year and the lions share of IT budgets allocated will be for cloud & managed services.
Now lets be honest that is not rocket science is it ? That trend has been happening over the last 5 years, however more interesting is the desire from business leaders and IT teams to adopt emerging technologies in order to keep ahead of the competition.
What is driving this ?
Procurement of technology is not only a time consuming and difficult task (unless you work with Simoda obviously) but the challenges of product shortages, price increases, shipping delays & UK logistical issues just add fuel to the fire of as a service technology consumption.
I also think that the pandemic has driven business leaders to think differently which was demonstrated in a very interesting chat recently with a business leader at a very large UK organisation. We talked about how they had changed their model due to the pandemic but rather than affect growth it has actually stimulated growth.
A long and well established UK brand who's traditional business model required them to have multiple locations with lots of operating staff and business assets all around the UK, already knew they needed to adopt digital and move towards an online service delivery model but movement was slow.
Along came the pandemic and that accelerated the adoption of digital and the drive for efficiency, now they are not looking back and I for one salute the conviction the leadership team have shown in delivering results in quick fashion without compromising on customer satisfaction.
What are the top IT drivers of budget increases in 2022 ?
Leadership direction to improve IT systems
Business / revenue growth
Upgrade outdated infrastructure
Adoption of modern data practices
Improve cyber security resilience
Remote workforce requirements
Operational & regulatory changes
As we enter autumn and the final stretch of 2021 I would love to know what your budget drivers are ?
Do you foresee an increase to your business revenues next year ?
What are your IT drivers and why ?
As the old BT advert with Bob Hoskins said 'its good to talk'
So reach out and lets have a conversation on your business priorities for 2022
Thanks for reading