The IT department is currently under great pressure, partly because of the challenging economic conditions. The IT department is expected to develop a strategy that meets the new needs of the organization, for example, by making more efficient use of available resources. It is important to know what priorities play a role in this and take them into account when creating the strategy.
In general, 2023 is seen as a difficult year because of pressures on the economy. Consider a recession, inflation, geopolitical tension and a labor shortage. Such factors can be factored into creating a strategy for the next three to five years. Aligning the organization with a strategy that can minimize risks from both external and internal factors should be based on a strong multidisciplinary approach.
Projects around digital transformation, at least, seem to be getting attention. Organizations see it as the way to meet business needs and challenges. This year, therefore, global spending on technology would increase, it is expected. A general trend driving up spending is more automation for all business functions.
It is also notable that most organizations are currently engaged in an initiative of very large scale. Organizations are enthusiastic when it comes to taking advantage of new business applications, including AI and ML and hyperautomation. There is also a preference for consolidating ERP and planning solution, although point solutions and multi-ERP environments will remain on. In doing so, there is no application approach that works for all organizations; fit-to-function would be the preferred approach to application strategy.
Ultimately, IT managers will have to choose what to actually prioritize. Here it is interesting to see what the market is doing, so that you can assess whether your choices match the course of others. With that in mind, in collaboration with Freshworks, we offer a research report by The Hackett Group.
The research paper titled ‘2023 Key Issues: The CIO/CTO Agenda’ also classifies into four categories how important an IT initiative is considered. For example, something can be classified as low, medium, high or critical. Curious about these results and trends? Use the form below to download the document.