The NTT 2021 Global Managed Services Report reveals that the primary business driver for CEOs in the coming 18 months (outside of COVID-19) is improving agility and the business ability to respond to change.
One year since the onset of the pandemic, organizations globally have undergone major transformations as they seek to strengthen resilience, increase agility and deliver greater efficiencies. In Hong Kong, 92% of business and IT leaders agree COVID-19 has caused significant changes to their operating processes, while 90% say it has accelerated their Digital Transformation strategy. These are the findings from the NTT 2021 Global Managed Services Report.
Changes to operating processes, along with Digital Transformation acceleration have presented organizations with an opportunity to reimagine their technology strategies and how it aligns to the business. The report found that 94% of organizations in Hong Kong agree their overall technology strategy is either fully (52%) or partially (42%) aligned to their organization’s business strategy needs. This highlights how IT teams have become more responsive to organizational demands. Similarly, it has pushed business stakeholders to fast-track services and solutions already held by IT, such as enabling a distributed workforce, to a far wider audience. Organizations in Hong Kong are also extremely focused on cybersecurity which is ranked as their highest priority technology initiative in the next 12-18 months.
However, despite greater strategy alignment, some disconnect in priorities exists between the business and IT. Globally, 69.9% of operations teams believe the need for a technology strategy that drives business efficiency opportunities is crucial, yet only 48.0% of IT teams agree. Further, 69.6% of operations teams globally consider speed and agility a key component of technology strategy, in contrast to only 53.4% of IT teams.
Damian Skendrovic, Executive Vice President, NTT, said: “The unprecedented challenges that COVID-19 has impressed upon businesses has forced the issue of business and IT alignment into the limelight. And there is still work to do to ensure core organizational priorities are understood by all. IT is under an immense amount of pressure to deliver against present requirements, while concurrently planning for future delivery and innovation. With technology and agility front and center of the business conversation, alignment of priorities is no longer optional, it is critical for the sustainability and resilience of the business.”
As global organizations seek to strengthen resilience, the research highlights significant differences in approach. While some consider cost optimization as a way of creating greater resilience, others are focused on being bold and brave. They view the pandemic as a chance to take advantage of market opportunities and to scale, with 44% organizations in Hong Kong pivoting technology focus to achieve this.Click below to share this article