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Adapting to the New Normal: How CIOs spend their cash

Adapting to the New Normal: How CIOs spend their cash

Organizations around the world have worked tirelessly over the past few months to maintain “business as usual” when reality has been anything other than that. We’ve seen some amazing stories as a result.
CIOs and business leaders have to be flexible in order to make their organizations thrive in the new normal. There are no sectors or industries that are immune from the effects of the pandemic.
Cloud computing has been a standard in business success for a long time. However, in these unprecedented times it has emerged as a way to not only weather the storm but also to come out stronger.
The rapid, widespread shift to remote work as a result the COVID-19 pandemic had a huge impact on IT departments of all sizes.
CIOs have had to reprioritize projects and adjust budgets in a matter of minutes, while also making sure that all employees are able to work remotely securely.
In this critical time when cost-cutting measures can make or break a company, where are IT departments spending their money in this critical time?
Pulse recently reported that 45% of CIOs plan to increase their spending on internal communication and collaboration tools. 39%, however, have increased their mobile security efforts.
It is important to remember that, while some businesses may have been operating with dispersed teams previously, the vast majority of companies around the world had to mobilize their entire workforce in a very short time.
With this in mind, the focus seems to be on:
Installing VPNs (36%).
Password management (32%)
Encryption tools (26%)
Multi-factor authentication (22%)
Endpoint detection and response (19%)

Data from Pulse.
Cloud is the New NormalGartner predicts, although some long-term digital transformation projects may have to be halted, enterprises are moving in the cloud direction in big ways.
Cloud spend is expected in 2022 to reach levels that were previously anticipated in 2023 and 2024. This prediction is even more impressive considering the current climate.
Although some CIOs reported a budget freeze, we have seen a steady increase in the demand for cloud tech talent across all vendors and across the board.
Gartner and IDC numbers only back that up. While global budgets have seen a sharp fall in the fallout of COVID-19, cloud services were cited as an exception. Digital transformation is now a top priority, rather than a ‘nice-to-have’ task on the company’s to-do list.
This raises the question: Does cutting IT budgets short-term save money, but cause competitors to lose out to those who have invested in digital upgrades?
Companies need to be more strategic in their approach to budgets and cost-saving measures at this stage.
Dispersed teams will play a major role in the return to work in the new norm. Businesses need to be prepared to adapt to this in order to provide consistent service to customers and retain their brand loyalty.
All indications point to businesses preparing for long-term remote work by investing in security and end user tech in spite of budget cuts.
I am available to chat over the phone or by InMail if you have any questions about your cloud project. Even if I’m not able to help, I know someone who can.
About the author

Ian Clark started his career at Hays PLC as a trainee recruitment consultant. He has more than 15 years of experience in the industry. After climbing the ranks, he joined Frank Recruitment Group to manage the opening of our Tampa and Philadelphia offices. Ian is now responsible to oversee all US operations and manage hundreds of employees throughout North America.
Connect with Ian via LinkedIn

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