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Study finds IT functions will overcome a lack of confidence and trust from within to drive true strategic value for organizations
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Nov 17, 2021, 09:00 ET
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CAMBRIDGE, Mass., Nov. 17, 2021 /PRNewswire/ — Global IT functions are set to go through a period of radical transformation over the next five years, according to new research by Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity. The global study, conducted by research firm iResearch, surveyed IT leaders from 10 countries in the Americas, Europe, and Asia-Pacific on how IT will evolve over the coming five years.
The study found that IT leaders’ confidence in their own departments is on shaky ground. More than half of all global senior IT decision makers (51%) are uncertain that their IT teams can enact positive change over the next five years — with one in 10 (17%) having either no confidence or trust at all, or holding significant doubts.
These worries are compounded by poor technology choices: nearly two-thirds (58%) of respondents admitted they have wasted between $1 million and $10 million (USD) over the last five years on the wrong IT solutions. Just 12% reported that all their IT investments had paid off in the last five years. Despite this wasteful spending, almost a third (29%) also said IT risks being underfunded unless budgets, along with IT roles themselves, are decentralized and integrated into other departments.
The good news is that radical change is afoot; the IT function is set to undergo a significant makeover, which will allow for better decision-making, wiser investments, and greater cross-departmental collaboration. According to the survey, these future changes may include:
Quotes & Commentary:
"In the next three to five years, the IT function will look, feel, and perform very differently to today," said Don Schuerman, CTO, Pegasystems. "The accelerated pace of digital transformation has put IT leaders front and center. It’s also taught many within organizations the strategic value these teams can provide if they are given the tools and the opportunity to be creative, collaborative, and focus their efforts on the areas where they can best add value. All of this will lead to better decision-making, more diverse, skilled workforces, and a more open, united way of working that will help to crush complexity and deliver better outcomes."
Notes to Editors
To understand how IT managers and leaders’ roles are being shaped in response to digital transformation, Pega surveyed 750 IT senior vice-presidents, vice-presidents, senior directors, directors, senior managers, and managers across key sectors, including financial services, life sciences, healthcare, retail insurance, manufacturing, telecoms, and the public sector. Participants came from companies operating in 10 countries throughout the Asia-Pacific region, Europe, and the Americas.
Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world’s leading brands solve their biggest business challenges: increasing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information on Pegasystems (NASDAQ:PEGA), visit www.pega.com.
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SOURCE Pegasystems Inc.
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