92% of executives reported challenges in acquiring new tech solutions, highlighting the complexities that go into the decision-making process, according to GlobalDots.
Moreover, some 34% of respondents said the overwhelming amount of options was a challenge when deciding on the right solutions, and 33% admitted the time needed to conduct research was another challenge in deciding.
Organizations of all varieties rely on technology more than ever before. The constant adoption of innovation is no longer a luxury but rather a necessity to stay on par in today’s fast-paced and competitive digital landscape. In this environment, IT and security leaders are coming under increased pressure to show ROIs from their investment in technology while balancing operational excellence with business innovation.
Due to current market realities, IT teams are short-staffed and suffering from a lack of time and expertise, making navigating these challenges even more difficult.
The report investigated how organizations went about finding support for their purchasing decisions. Conferences, exhibitions, and online events served as companies’ top source of information for making purchasing decisions, at 52%.
Third-party solutions, such as value-added resellers and consultancies, came in second place at 48%.
54% are already using third parties to purchase, implement, or support their solutions, highlighting the value dedicated experts with in-depth knowledge of every solution across a wide range of IT fields provide.
Respondents were recruited through a global B2B research panel, with 66% from the EU, 24% from the UK, and 10% from the US. 32% of respondents came from the software and gaming industries, while the rest came from a wide mix of other industries, including healthcare, telecom, and banking.
“With innovation being a fundamental part of today’s business culture, our report reveals and details the most pressing technology issues facing businesses today,” says Yuval Rachlin, CEO of GlobalDots.
“We are living in an age of abundance when it comes to tech solutions for organizations, and this makes researching and purchasing the right solutions for your organization extremely challenging,” Rachlin concluded.