Only 45% of software projects deliver or exceed their expected return on investment (ROI), according to a new survey of CIOs from digital adoption platform Userlane and consultancy PwC . With the average spend on new software projects exceeding £2,200,000, large businesses are losing upwards of £6,000,000 annually. Although almost two thirds of CIOs (65%) are concerned that the state of the economy will affect their digital transformation plans, 62% still intend to deepen their investment in technology over the next 12 months. Cost increases are anticipated across cloud-based software (61%), on-premises software (54%) and software training for employees (54%). Furthermore, the survey of 250 CIOs and IT leaders at large UK-based companies reveals that software ROI is most frequently measured in terms of productivity improvements (76%), new business generated (73%), streamlined processes (70%), a reduced need for hiring (70%), and higher customer satisfaction (69%). CIOs will face significant pressure to deliver RIO for software projects under the challenging economic circumstances, including supply-chain issues and talent shortages. Respondents consider their most significant areas of responsibility to be digital transformation (43%), followed by digital adoption (37%). Other key focus areas include business productivity (35%), employee experience (33%), and learning and […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
