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Many executives aren't sure they made the right pandemic tech investments

communication technology
(Image credit: Image source: Shutterstock/violetkaipa)

Looking at the past year, most senior decision-makers at UK businesses aren’t fully confident in the technology investments they made during the pandemic, a new poll suggests. 

A report from IT resilience company Sungard AS polling 500 senior decision-makers from the UK found that just above half (54 percent) are unsure whether or not the investments made during the pandemic were wasted. More than two-thirds (68 percent) believe it yet remains to be seen if all the investments made will be suitable for the long-term.

Looking at the reasons for being doubtful, Sungard uncovered that some are worried about data security, some about compliance and regulatory issues, while some worry over unexpected and unpredictable costs. Some were also worried about cloud partners not wanting to admit shortcomings when warned, not willing to compromise and lacking honesty and integrity. Just 12 percent of respondents said they faced no challenges while working with third-party cloud partners.

These challenges and roadblocks could not curb the decision-makers’ optimism for the future, though. Many still believe technology partners will help them evolve solutions to meet their long-term goals, while others are still oriented towards such partners for guidance on innovation. More than a third have already accelerated plans for cloud investments, as well.

“Like any relationship, solid working relationships do not ‘just happen’,” comments Chris Huggett, Senior Vice President, EMEA & India at Sungard AS. 

“They take time, patience and transparency from two parties who want to work effectively together. Did companies find love during lockdown with third-party partners, and investments that would set them on the path to long-term success? Unfortunately, it appears not in the majority of cases, as our findings reveal a lack of faith in spending decisions and some shortfall by third-party partners to deliver the stability needed by many senior decision-makers.”