The majority of organisations with at least 1,000 employees have walked into 2020 with a backlog of unfinished projects, according to a new report from MuleSoft.
In the UK, the situation is even worse, with three quarters (76 percent) of organisations unable to deliver all their projects on time.
According to respondents, the issue is caused by a combination of a lack of time, funding and skills.
Half of those surveyed said their IT budget will increase by less than 10 per cent, while their project workloads will increase by 40 per cent this year. They also said almost 70 per cent of their day is spent running the business, leaving little time for innovation and development.
Further, organisations are struggling to keep pace with technological developments. Almost two thirds of IT decision makers said it was hard to introduce new technologies because of their IT infrastructure.
“Businesses are under increasing pressure to digitally transform as a failure to do so risks negatively impacting revenues," said Ian Fairclough, Vice President of Services, EMEA at MuleSoft.
"However, traditional IT operating models are broken, forcing organisations to find new ways of accelerating project delivery and reusing integrations.”
APIs are considered a great way to drive value, but businesses are lacking the necessary company-wide strategy, the report adds. Although most organisations (80 percent) understand the power of APIs, only a handful approach their application strategically.
“For organisations with hundreds of different applications, integration remains a significant challenge towards them being able to deliver the connected experiences customers strive for. This report highlights that while ITDMs recognise the value of APIs, many organisations have yet to fully realise their potential,” concluded Fairclough.