SoftwareOne has released a recent study which surveyed 600 C-suite and IT decision-makers in the UK and US, examining how the current global economy is impacting IT priorities. The findings revealed that despite 93% of CIOs expecting IT budgets to increase in 2023, 83% say they are under pressure to make their budgets stretch further than ever before \u2013 with a key focus on improved cloud cost management and tackling the reduction of mounting technical debt.<\/p>\n\n\n\n
The survey found that 72% of CIOs admit they are behind in their Digital Transformation because of this technical debt, which is of particular concern as 92% of CIOs are expected to deliver Digital Transformation initiatives that act as revenue generators this year.<\/p>\n\n\n\n
Some respondents (38%) said the accumulation of this debt is largely because of rushed cloud migrations during the pandemic, with 31% failing to optimise their workloads before commencing the migration process. A further 38% revealed that their organisation miscalculated the cloud budget when provisioning, which resulted in significant cloud overspend. Many organisations also still have multiple on-premises IT legacy systems and 51% of CIOs state that the complexity of legacy IT is one of the top three challenges they currently face.<\/p>\n\n\n\n
Just under half (45%) of CIOs surveyed believe having improved transparency and control of cloud costs would help them extract greater value from their cloud investments and therefore improve company buy-in. Others (80%) plan to increase their investment in FinOps to achieve this and 39% say they will use cloud native tools to reduce licensing costs. Despite budget pressures, 82% will increase their investment in application modernisation. Security remains a priority, with 92% increasing investment in this space. <\/p>\n","protected":false},"excerpt":{"rendered":"
SoftwareOne has released a recent study which surveyed 600 C-suite and IT decision-makers in the UK and US, examining how the current global economy is impacting IT priorities. The findings revealed that despite 93% of CIOs expecting IT budgets to increase in 2023, 83% say they are under pressure to make their budgets stretch further than […]<\/p>\n","protected":false},"author":21,"featured_media":90811,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27,6617,93,24],"tags":[11575,6852,13612,16319],"class_list":["post-90810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intelligent-technology-newsletter","category-research","category-top-stories","category-used","tag-c-suite","tag-research","tag-softwareone","tag-study"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/90810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/comments?post=90810"}],"version-history":[{"count":5,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/90810\/revisions"}],"predecessor-version":[{"id":91917,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/90810\/revisions\/91917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media\/90811"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media?parent=90810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/categories?post=90810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/tags?post=90810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}