Innovation is the name of the game in today’s global market. Recognizing this new reality, CIOs, CTOs, CISOs and other technology executives and leaders are exploring new ways to fuel innovation throughout their organizations. However, there are many roadblocks on this path.
Take, for example, the specter of technical debt, which is hampering a business’s ability to innovate and grow. Our research indicates that organizations spend nearly one-third of their IT budgets and invest a fifth of their resources in technical debt management.
For this global survey of more than 1,000 CIOs, CTOs, CISOs and other technology executives and leaders, Protiviti set out to understand how organizations are tackling their current and future technology needs – specifically, how they are pursuing innovation initiatives that will fuel long-term value while also addressing the burden of managing their organization’s technical debt. We also explore the types of emerging technologies in use today or that organizations are planning to implement, as well as challenges related to skills, talent and collaboration.
Analysis of this research exposes a number of trends and themes that should be of great interest to technology leaders seeking to help their organizations achieve competitive advantage and grow their capabilities and offerings.
Organizations are spending an average of 30% of their IT budgets on technical debt management.