It’s not news that the workforce structure massively changed in 2020. Worldwide shutdowns and restrictions caused by COVID-19 made remote working an overnight necessity. CIO’s and IT leaders were challenged to adapt quickly and create secure working environments for their organizations, which led to companies majorly increasing their investments in their IT departments.
IT spending is predicted to hit $4.2 trillion in 2021, an 8.6% increase from 2020. This number is expected to continue to climb with another 5.3% increase on the horizon for 2022. As boards and CEOs see the importance of spending more in their IT environments, they will be more eager to increase budgets to stay competitive.
So what are the most important areas in which to invest in your own organization’s IT infrastructure?
As businesses continue to become more and more mobile, companies are expected to increase their investing in social and collaboration tools by 14% in 2022. To take advantage of this trend, CRM (customer relationship management) and ERP (enterprise resource planning) software providers have expanded their systems to include more tasks and capabilities.
Automating manual tasks like complex invoicing is an easy way to eliminate capital lost to human error and free up time for your employees to focus on more urgent tasks. Better yet, moving toward automation enables companies to effectively gather data to use for informed decision-making. Data-based decision-making is taking the place of “going with your gut,” as it takes the guesswork out of how to increase your bottom line by identifying inefficiencies for you.
Keeping your technology running at top speed is essential for any business to thrive. Investing in cloud platforms has been a critical element in keeping businesses flexible, competitive, and collaborative. Some businesses are even upgrading to virtual cloud desktops, which can reduce and even eliminate the need for costly updates and replacing outdated technology. Virtual desktops are also more flexible and secure, as they can be easily scaled and monitored.
Increased mobility means increased vulnerability, and executives are taking note. It is estimated that 55% of businesses are ramping up cybersecurity in order to push back against hackers and keep their data safe. Investing in a long-term cybersecurity plan will free up time for your IT team to explore new ways to innovate in other areas.
No matter what your investment plan for your IT environment, Cannon Group can help you optimize it. Cannon Group’s experts will ensure that you not only have the best suited providers working for you, but that your contracts are sharply negotiated and tailored to your company’s needs. Better yet, our auditing and data gathering automations will help you find inefficiencies and free up working capital, so you can improve your bottom line and redirect funds to where they are needed most.
Talk to a Cannon Group expert to see how we can work for you.