Latest news with #RomyOltuski
Forbes
04-04-2025
- Business
- Forbes
Forbes Survey: As Enterprises Decentralize Tech Buying, New Power Brokers Emerge
By Romy Oltuski As enterprise tech spending surges, so do the stakes of selecting the right vendors and solutions. This year, a striking 99% of companies plan to boost tech investments, with 57% expecting increases of more than 10%. To uncover where and how businesses are funneling these dollars, Forbes Research polled 1,000 IT decision makers about their purchasing patterns, toughest stakeholder challenges and evolving vendor dynamics. The inaugural Enterprise Technology Purchasing Survey reveals a shift away from rigid procurement processes to a more agile, decentralized approach, with artificial intelligence commanding the largest share of 2025 budgets. Read on to discover what drives decisions on both sides of the deal. Then, take our quiz to see how your tech strategy stacks up. Who drives enterprise tech adoption? While IT has traditionally held the reins, influence is expanding to executives across the organization. Today, IT departments steer 59% of technology acquisitions, while specific lines of business oversee 41%. Within three years, that balance is expected to flip, with business functions leading the majority of purchases. This forecast signals a move toward more cross-functional decision-making. No longer sole gatekeepers, IT collaborates with marketing, finance, HR and other departments—each bringing distinct needs and priorities to the table. In fact, 46% percent of survey respondents cited management committee approval as the top business requirement for tech acquisitions. Already, chief marketing officers spearhead customer relationship management selection, while chief human resources officers guide talent management platform decisions—paving the way for technology choices better aligned with end-user needs. For vendors, that means adapting. Engaging a wider range of stakeholders—from CEOs to department heads—opens new avenues for relationship-building but also demands more nuanced sales strategies to navigate competing priorities. Over the next three years, enterprise leaders anticipate a gradual shift from custom-built tech portfolios to off-the-shelf third-party solutions. As companies evaluate vendors and platforms, which factors will shape their decisions? Survey respondents shared distinct priorities and challenges across technology categories. For AI and machine learning, for example, businesses prioritize scalability and post-purchase support—yet 79% report that their current solutions fall short in the latter area. They also seek robust partner ecosystems that integrate seamlessly with third-party tools. While their existing setups score well in usability and integration, reliability and security remain key improvement areas. In the cybersecurity space, flexibility in contract terms, cost-effectiveness and scalability take precedence. While companies generally trust their current solutions, they have concerns about long-term adaptability and return on investment. Across all top tech categories, talent shortages emerged as the biggest tech implementation challenge, fueling demand for greater ongoing customer support. Beyond the tech itself, enterprises value partners they can trust. The most sought-after attributes include functionality (45%), security and compliance (40%), cost-effectiveness (37%) and the vendor's commitment to sustainability and social responsibility (37%). Meet the Tech Accelerators. This elite group of high-performing companies—representing the top five percent of our survey sample—exhibits common traits that offer a blueprint for others. These organizations have achieved at least five percent year-over-year growth, setting them apart from their lower-growth peers. Their fast, flexible and flat approach to tech buying removes adoption barriers and encourages innovation: Forbes Research takes the pulse of the most important topics in business through original surveys, analysis and storytelling. Explore our findings, and learn more about partnering with Forbes Research.
Forbes
20-03-2025
- Business
- Forbes
New Forbes Survey Reveals C-Suite's Vision For Tech-Powered Growth In 2025
By Romy Oltuski Their optimistic projections, along with the short-term challenges that could derail that trajectory, are captured in our fifth annual CxO Growth Survey, which reflects the viewpoints of 1,000 global executives representing companies with at least $1 billion in revenue. This story, published in March 2025, marks our first release of its findings. Read on for an inside look at CxOs' investment strategies, their collaboration dynamics and the challenges they face in the race toward technological excellence. Executive leaders now view technology as the primary enabler of business growth, citing accelerating digital transformation as their top strategic priority, up from the number-three spot just last year. Chief financial officers are backing this shift, with tech set to receive the biggest jump in capital spending. Trailing technology in second and third place on the CxO agenda are: In contrast, sustainability and diversity, equity and inclusion initiatives—last year's top concerns—have slipped to seventh and eighth place for this year. 'This reflects increased pressure to balance long-term commitments with short-term profitability in this period of uncertainty,' says Ross Gagnon, executive director of research at Forbes. While this survey was conducted prior to Donald Trump's presidency, the findings also align with U.S. companies' growing retreat from corporate social responsibility. Dozens have walked back DEI commitments amid political and regulatory change, while others have cooled on climate pledges, delaying key decarbonization deadlines. However, executives' longer-term goals tell a different story. When asked how their priorities will evolve over the next two years, CxOs put DEI back on their top-three list. They also consider investing in the circular economy—a system that minimizes waste by extending the lifespan of materials through reuse and resource efficiency—as essential to their company's long-term growth. While these focus areas may be taking a temporary backseat, executives affirm their continued importance in shaping future strategy. *Indicates the percentage of respondents who gave this answer According to surveytakers, that's the most hotly debated question in the C-suite. Artificial intelligence and cybersecurity solutions top the list of tech investments, with 93% of organizations increasing spending in these areas over the next two years. And expect bold moves, not modest hikes: More than half plan to up their AI and cybersecurity budgets by more than 16%. This strategy reflects the ongoing race between innovation and protection, as cybersecurity solutions strive to combat the rise of AI-driven threats while also harnessing AI's capabilities for defense. 'We're living in a very interesting space where we're building tech to protect against tech, and the speed is just accelerating,' Allegra Driscoll, chief technology officer of payments solution provider Bread Financial, said at the Forbes CIO Summit in November. Fifty-five percent of survey participants struggle to handle the blitz of cyber threats and attacks they say has escalated over the past year. Stirred to action, 83% have implemented zero-trust security models, and 88% have continuous security improvement programs in place that include regular assessments, vulnerability remediation and ongoing employee training. RELATED: Do You Think Like A CEO? Take Our Quiz To Find Out Ripple Bhular, executive vice president and head of U.S. Capital Markets and Diversified at IT services company Kyndryl, sees these actions as not just a defense posture but also a growth strategy. 'Organizations need to start seeing cybersecurity as a competitive differentiator for them,' she said, speaking on the same CIO Summit panel. 'If a consumer is impacted or has an inclination that a certain business is not protecting their data, they're gonna take their business elsewhere.' Our survey portrays an increasingly unified and collaborative C-suite. Chief information officers (82%) and chief marketing officers (78%), for example, increasingly see themselves as bridge-builders within their organizations, reaching across departments to advocate for organization-wide innovation. This type of multidisciplinary approach facilitates CxOs' intertwined priorities: CEOs aren't just endorsing this cross-functional approach; they're modeling it. Eighty-eight percent are prioritizing stronger engagement with their leadership teams and say encouraging greater collaboration among their direct reports is one of their top strategic goals. Tech executives, meanwhile, topped the list of C-suite leaders CxOs want to collaborate with more in the future—highlighting their conviction that tech-driven growth is the key to advancing their functions and the organization as a whole. Forbes Research takes the pulse of the most important topics in business through original surveys, analysis and storytelling. Explore our findings, and learn more about partnering with Forbes Research.
