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IT investment being driven on despite pandemic

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(Image credit: Image Credit: GaudiLab / Shutterstock)

Businesses are continuing to invest in digital initiatives and transformation projects, despite hardships brought about by the Covid-19 pandemic. This is according to new figures from Apptio and the Harvard Business Review (HBR) Analytics Services. 

Polling 338 business leaders for the report, Apptio found that more than four in five (82 percent) have increased investment in digital initiatives as a result of the pandemic. For almost two-thirds (62 percent) of the respondents, meanwhile, investing in technologies that bring new business applications and products faster is a top spending priority going forward.

As reported by VentureBeat (opens in new tab), businesses are rushing into these investments head-on, often without a concrete plan of action. A third measure the value of their tech on an ad-hoc basis, while a fifth (20 percent) don’t measure at all. At the same time, the cadence for reviewing tech budgets is picking up.

Most of the respondents (65 percent) would love to see their tech investment result in an improved customer experience, but process automation and enhancement of new digital business models seem to be almost equally important. 

Furthermore, many organizations want to use digital technology to move into new markets and expand their customer base.

Sead Fadilpašić
Sead Fadilpašić

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.