TECHNOLOGY
Analytics, automation and security are driving increases in technology spend by the middle market.
Most middle market and emerging enterprises — three out of five — view technology as an enabler, optimizer, and cost-saver. That is, they are fast followers who tend to buy and deploy proven technologies to improve existing operations. Another 15% are digitally advanced and use technology to outpace rivals by making faster, smarter decisions; about the same number use just enough technology to keep up. One out of ten works on the cutting edge , creating new and disruptive business models.
9.19%
14.59%
When you think about technology, is your strategy primarily:
9.19%
14.59%
15.14%
15.14%
61.08% 61.08%
to keep up with best practices in our industry to optimize processes, improve operations, reduce costs, and increase productivity to gain a competitive advantage by making faster, better decisions about talent and customers to develop and deploy new, transformational, and disruptive business models to keep up with best practices in our industry to optimize processes, improve operations, reduce costs, and increase productivity to gain a competitive advantage by making fast r, better decisions about talent and customers to develop and deploy new, transformational, and disruptive business models
Each of these groups has a different investment appetite for IT and a different level of sophistication in the uses to which it is put. Given the fact that a majority follow a strategy of optimization and productivity, it is not surprising that upgrading and integrating IT systems are the #1 and #2 digital priorities of the middle market, rather than making substantial investments in transformational technologies. Sixty-five percent are very or extremely confident that they have the right tech stacks to manage their businesses
This philosophy — do it better, faster, cheaper — holds true in priorities for the use of technology as well as in spending. Analytics and AI, financial planning and analysis, automation, and security are top priorities.
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