CIOs working with changed IT budgets due to COVID-19

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CIOs working with changed IT budgets due to COVID-19

CIOs are planning to invest in mobile security, collaboration, and communication tools, to meet the new demands of teams, when they get back to work

The pandemic has sent the organizations and production process in frenzy, with a sudden shift in working environments. CIOs have worked tirelessly to implement sudden business continuity plans to minimize the negative effects of the lockdown. IT departments are working round the clock to ensure safe operations from remote locations.

As per a survey carried out by an online hub for tech executives and CIOs, over 45% have stated that their organizations are planning to shift to internal collaboration and communication tools. Thirty nine percent of the CIOs have stated that they are focussing on encouraging increased mobile security.

CIOs across the world have increased the focus on the deployment of VPNs, better password management, endpoint detection and response, multi-factor authentication, and encryption of communication tools.

Reduced and frozen budgets are major obstacles to CIOs. Almost a fourth of CIOs have stated that their budgets are frozen while 20% stated that they are faced with decreased budgets. The last few months saw an aggressive shift to remote work. While budget freezing might allow the organizations to step back and re-assess the technology, trading-off might result in slowing down the digital transformation in the long run.

Well-informed CIOs have continued to invest in end-user and security-based technology. This will play a significant role in the future as organizations may require their employees to continue working from home, even post-COVID-19, for safety and health reasons.

Information technology leaders have stated that these investment decisions are taken based on the opinions of industry analysts and online IT security communities. About 69% of the CIOs have stated that they take into account both end-user requirements and executive decisions when investing in technology. Many organizations have agreed that the IT layoff is far from over. CIOs have to take wise decisions when it comes to maintaining the team size or reducing manpower.

Deloitte recently stated that vanguard CIOs will determine the resiliency, growth strategies, and recovery of organizations. CIOs are currently focussed on improving security for remote working. Post COVID-19, they will be expected to design workspaces for organizations to establish a socially distanced office environment.

Surveys across global organizations have stated that IT budgets will reduce by 5.1% by the end of 2020. CIOs are expected to choose technologies that will help their organization to survive 2020, tide through the recession and boost growth post the pandemic. They are required to establish a safe platform for sustainable growth during the unprecedented situation.

Clearly, the value of the CIOs will be determined by their stance and strategies around digital transformation strategies, in the coming months.