“
Economic Landscape and Budget Expectations The economic landscape exerts a profound impact on organizations' investment strategies. According to recent data, many participants (63%) are feeling the strain of the current economic environment. These pressures resulted in a significant shift in their priorities, with 62% of executives indicating that they realigned their focus. Interestingly, only 43% shared that the economic environment has had adverse effects on their strategic outlook. Optimism abounds. The majority of technology leaders do not anticipate a decrease in their investment budgets for the upcoming year. In fact, a notable proportion (63%) of leaders surveyed expressed satisfaction with their current budget. Despite the challenges posed by economic volatility, organizations are committed to maintaining their investment efforts, recognizing that adequate resources are fundamental to achieving strategic objectives and pursuing growth.
Fundamentally, traditional
top-down yearly budgeting
processes are incongruent with
the desire to be agile and pivot
based on learnings. As a result,
what is declaratively budgeted is
often off as compared to what is
ultimately delivered, which can
lead to frustrations within the
organization and with
customers if left unchecked.”
Florin Ibrani CEO at Concord
CIO INSIGHTS REPORT
6
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