CIOs are changing their IT budgets to fit the business roadmap during and after the COVID outbreak. Working from home seems to be a legitimate alternative for workers. Nevertheless, C-suite executives must weigh all the options for long-term objectives. In this article at InformationWeek, Jessica Davis shares how CIOs are handling IT budgets during COVID.
Rethinking IT Budgets
The Sectigo-Wakefield Research report conveys that nearly 40 percent of the organizations have postponed activities that can yield some revenue. The leaders wanted to stabilize their workforce with the new working model before investing any further. Now it is time to address some pressing questions regarding ‘recession, massive unemployment, and a presidential election’.
More About the Situation
Hitachi ID Systems, along with Pulse, interviewed a hundred CIOs in North America to understand the future roadmap. Hitachi CEO Kevin Nix remarked that every industry is adjusting to the new situation in their way. For instance, the education industry thought leaders are analyzing if they should encourage kids to come back to physical classrooms. They are also toying with the idea of having a hybrid model for their future learning environment.
Meanwhile, 77 percent of the CIOs confirmed to have reduced their IT budgets because of the COVID outbreak. 74 percent are focusing on projects that would strengthen their internal processes and functions. 71 percent of the respondents report that their administrators are experiencing an uptick in sign-in requests. It not only is hampering them but also the employees that cannot access the company database.
Nearly 55 percent of the staff have issues with on-premise login. 43 percent have multi-factor authentication issues, and 29 percent deal with insecure VPN troubles. Furthermore, 22 percent face cyber-attacks and 10 percent have problems with secure accessibility.
Though 82 percent of the C-suite leaders have reduced IT budgets, 79 percent are reinvesting in new tools to improve operational efficacy.
During the survey, the CIOs believed they would have adjusted to the crisis better if they had invested more in some areas. Collaboration platforms (61%) cybersecurity training (59%), multi-factor authentication (43%), and SaaS identity and authorization management (33%) topped the list. Serverless architecture (24%) and single sign-on (20%) were essential too.
To view the original article in full, visit the following link: https://www.informationweek.com/strategic-cio/it-strategy/cios-shift-it-budgets-amid-covid-crisis/d/d-id/1338157?