CTOs and CIOs continue to integrate new IT solutions into their operations, driving higher levels of productivity, efficiency, and engagement. But, with so many new and competing technologies arriving on the market every year, it can be difficult for business leaders to allocate their IT budget in a way that maximizes the impact on their organization. Where do you start?
Researching trends are an important step for effective business leadership. That’s why we continue to curate, analyze, and share information from reputable sources with our clients. In combination with our own experience supporting mid-size to large organizations, we can share our informed business insights.
This short post references resources like Deloitte CIO Insider, Computer Economics, and KPMG reporting on the most current investment trends of 2018 and 2019.
Here are five key areas that we predict CTOs and CIOs will be investing in 2020:
A fast-changing technology landscape means that the most successful businesses will want to make ongoing infrastructure investments, to ensure that their organizations can keeps pace with the speed of digital transformation — and their competition.
According to one of the leading manufacturers in networking technologies, Cisco’s CEO Chuck Robbins recently emphasized the importance of keeping up with the development of network infrastructure. Organizations must consider the expansion of the consumer and enterprise mobile network with 5G, WiFi 6, and the proliferation of devices. This includes IoT and other mobile devices, which means network requirements are only increasing.
"Without adaptable infrastructure, an IT organization can't keep pace with business needs. The future of infrastructure has its foundation in a software-driven, automated and intelligent network." (Cisco)
There are two technologies that are shaping this foundation in 2020:
The need for ongoing infrastructure upgrades will require some businesses to change their perception of IT. The modern network isn’t just a series of pipes that connect your employees, it’s a dynamic entity that provides more benefit and efficiency as it’s nurtured and supported. The network infrastructure has the capability to dramatically change productivity levels and the way people work.
Computer Economics states that cloud is the top spending priority going into 2020. “Both cloud applications and cloud infrastructure lead the way,” and in our experience, that is exactly the case. Also stating, “We expect this trend to continue as the economic and strategic advantages of an elastic and scalable approach become more and more evident.”
Integrating cloud solutions is gaining massive momentum and has allowed IT leaders to work within their IT budgets to pursue more digital transformation.
In a study by KPMG, “Continuing a theme from last year’s report we questioned our respondents about their investment plans for key technology initiatives. Last year we tracked how cloud investment continues to grow, and this year we see no let up, with almost three-quarters of IT leaders reporting moderate or significant investment. Cloud has now reached a level of maturity, and broadly the IT leaders we speak with are no longer concerned by security or resilience. Another factor that has driven cloud usage has been business functions directly investing in and managing IT. Investing in mobile follows a similar pattern to cloud and is increasingly seen as a natural part of the IT landscape.”
In a study by Deloitte CIO Insider, they touch on some motivating factors for pursuing more cloud initiatives.
“In the last decade, the shift of applications and infrastructure to the cloud has had an outsized impact on operational expense reduction. Streamlining business operations can free up budget dollars for investing in change and innovation initiatives, enabling CIOs to impact top-line growth.”
Cyber-attacks will continue to be the most serious threat facing businesses in 2020, exposing them to a huge range of disastrous outcomes ranging from data loss and prolonged periods of network downtime to reputational damage, compliance fines, and potential litigation.
Last year, KPMG reported that cybersecurity saw a huge leap on the priorities list. Many CIO/CTOs are reporting that their board has been more understanding when it comes to discussions around cybersecurity and implementing new solutions.
These cyber-threats will continue to threaten organizations of all sizes in 2020:
Almost a quarter (23 percent) more respondents than in 2017 are prioritizing improvements in cyber security as cyber-crime threats reach an all-time high, however only a fifth feel well prepared for a cyber-attack.
Two categories that fall within cybersecurity will see the most traction:
Mobile technology already helps businesses better engage clients and employees, while increasing their agility and decision-making capability. As 2020 approaches, forward-thinking organizations will continue to make investments in these areas, leading to stronger integration with traditional network technologies and next-generation services like artificial intelligence (AI) and machine learning.
Recent studies show that 82% of CEOs, IT Executives, and senior management say that mobile devices are now critical to employee agility and the speed of decision making.
2020 will also be the year that businesses start to take advantage of the Internet of Things (IoT). This broad category of devices – ranging from industrial sensors to shipping trackers, smart locks, and voice assistants — has limitless use cases for businesses, enabling devices and employees to rapidly communicate.
Research firm Gartner predicts there will be as many as 20 billion IoT network devices by 2020.
The managed IT service field continues to grow, as more and more businesses realize the benefit of proactive network maintenance, flat-rate IT budgeting, and fruitful, long-term technology partnership. Augmenting your staff with the help of an MSP can offer many cost-saving benefits.
In 2020, leading MSPs like Techmedics will respond to client demands by focusing on the consultative aspect of their service, providing businesses with a trusted guide to help them take advantage of all the latest technologies and address their most complex requirements.
Techmedics is a single partner for all your IT infrastructure needs:
Of course, the primary focus and responsibility of the MSP is business reliability and network uptime. As networks expand to include mobile, cloud, IoT devices, off-site workers and more, MSPs like Techmedics will respond with enhanced monitoring, maintenance and support processes, allowing businesses to approach next-generation technologies with maximum confidence.
Our clients have trusted us for over 20 years to guide and support their technology. If your business has a technology initiative planned for 2020, we encourage you to reach out with your questions!