Business innovation: where’s the tech money going?
David Jones, Senior Managing Director of Robert Half, shares some insight into how businesses can stay ahead of the curve through innovation, in a world that’s changing every day.
Innovation investments in the next 6 months
In a recent Robert Half survey, we asked businesses where they planned to invest in the coming six months, and 96% had purchases organised during that timeframe. So, where is the money going?
At 25% each, hardware and software upgrades topped the list of priorities. Security was also a significant concern, with 18% of respondents saying they planned to invest in IT security.
Next were enterprise-resource-planning (ERP) systems, at 16%, and customer relationship management (CRM) systems, at 10%. Surprisingly, collaboration tools were at the bottom of the list, with only 2%, but perhaps the large number of free tools and apps available has cut the need for investment in this area.
Cloud computing and mobile lead predictions
When asked to predict which technologies would lead innovation in the next three years, cloud computing and mobile technologies came out on top. However, many businesses also indicated an expectation that social media would continue to be a strong contender and that analytics would remain a priority.
With 34% of businesses predicting process automation would become an innovation driver within three years, working processes could be on the brink of massive change.
What's more, respondents were asked whether their organisation was investing in technology to automate business processes, and more than 93% said either they were or they were planning to. Of those, 55% were already putting money into developing processes.
CTOs drive a third of business innovation
The survey also looked at the people behind the decisions and found that one-third of businesses had a chief technology officer (CTO) who was responsible for driving change.
However, chief information officers (CIOs) and chief executive officers (CEOs) were also noted as big decision-makers, with 21% and 20%, respectively. Only 6% said innovation was driven by a senior cross-functional committee or team.
Whether you're an innovator, a developer or an IT expert, find out more about the changes shaping your industry in the Robert Half Technology Salary Guide.
While SEEK partners with trusted contributors to bring you the latest insight and advice, the views and opinions expressed in this article are those of the author.