Modernization, Security, & Customer Experience Where are CIOs Investing in 2023?
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The factors that drive investment decisions for CIOs are multifaceted, reflecting the evolving priorities of organizations in an increasingly digital age. Two paramount concerns that consistently occupy CIOs' minds are customer experience (CX) and security. Of those surveyed, 45% said they are focusing on making investments that are strategically aimed at modernizing technology infrastructure, while 37% said they were investing to safeguard against security breaches and 36% were concerned with funding to improve overall customer experience. In the pursuit of modernization, organizations focus on updating systems, software, and hardware to streamline processes, drive efficiency, and maintain a competitive edge by moving the technology function from a cost to a profit center. Modernization further entails creating faster speed- to-market features and building automations that allow higher confidence in shorter release cycles – helping companies act and deliver at speed. Leaders need to spend a lot of time in the preparation stage of customer efforts to understand the modernization factors that are most important to their customers. Contextual awareness will inform risk management and improve delivery fidelity.
“Contextually, it’s an arms race
between convenience and ease on
one side and protection and
preservation on the other.
Striking a balance is a bit of an
art and the key reason we’re
indexing much more on shifting
the security discipline to the left
for customers in all our
engineering-heavy efforts.”
Florin Ibrani CEO at Concord
CIO INSIGHTS REPORT
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