Irish companies investing an average of €750k on new IT

IRISH businesses are set to increase their IT investment, with the average spend cited as almost €750,000 by the end of 2022.

According to research by IT solutions company Auxilion – who have an office in Park West Business Park – figures show that almost half of Irish organisations are increasing their IT spend over the next 12 months.

The survey, conducted by Censuswide and involving 100 C-suite executives from enterprises across Ireland, found business leaders are prioritising sustainable solutions (41 per cent), cloud environments (38 per cent), automation (32 per cent), business analytics (31 per cent) and hybrid working practices (30 per cent).

However, the study found that supply chain issues have caused challenges for 67 per cent of respondents when resourcing technologies. In fact, a similar proportion made recent IT decisions based solely on the current availability of technologies.

As a result of such issues, the survey found that some 58 per cent of business leaders have purchased older technologies – despite 65 per cent agreeing that purchasing older technologies will have an impact on the performance and life-span of same.

Supply chain issues were cited as one of the biggest obstacles to successful IT strategy delivery.

The research also shows that 80 per cent of Irish organisations currently outsource part or all of their IT needs to a partner, while two-thirds are looking to replace their IT partner or engage a new one.

Philip Maguire, CEO of Auxilion, said: “Our survey shows that business leaders are compromising on their tech due to supply chain issues. Out of necessity and because of availability, organisations are opting for solutions that will only serve them in the short-term. In turn, this is hampering their long-term strategies and goals, while stifling digital transformation.

“While it’s not always about having the latest technologies, businesses need to ensure they are implementing the right solutions which will help them to innovate, thrive and grow – not just today but in the future. This means investing across the board, from technologies and partnerships to training and resourcing.”