Top IT Budget Investments for CIOs in 2022

Top IT Budget Investments for CIOs in 2022-01

IT leaders are seeking to capitalize on technology for fueling innovation and business transformation in 2022 with budgets that will suit their long-term investment needs.

Enterprises are expected to continuously opt for an aggressive push to leverage technology for fueling innovation while transforming business operations in 2022. However, to continue with this momentum, they need to start taking steps towards investing. Hence, industry experts are taking steps towards increasing budgets for the new and existing technologies. In fact, as per Spiceworks Ziff Davis 2022 Report, titled, “The 2022 State of IT,” 53% of the organizations are planning to increase their technology investments.

These investments will be primarily around areas where organizations can effectively reimagine and innovate by rapidly piloting and prototyping new use cases. Additionally, organizations will need to focus on areas that scale and differentiate their business driving new capabilities or revenue streams.

Here are five IT investment opportunities for CIOs and other IT leaders to make a splash in their business and enterprise landscape in 2022:

Also Read: What Does it Take for a Long-Term Hybrid Work to Succeed?

  • Cloud-native managed services 

Organizations will begin making investments to capitalize on cloud-native managed services. Earlier, they were hesitant due to vendor lock-in with their cloud investments. However, with more cloud-mature organizations shifting towards cloud-native applications, they are less afraid of being locked in to reap major benefits in the short term.

One of the biggest benefits while investing in cloud-native managed services is the ability of IT to get more done in today’s tight IT talent market. This also helps organizations to relieve their resources from managing their cloud infrastructure and shift their focus towards other areas.

  • The surge of IoT sensors and analytics

IoT sensors have gained a lot of importance, especially in the manufacturing industry. Thus, more investment will be made in managing and monitoring them. Organizations are also placing a large number of sensors in the field for energy tracking and laying private 5G networks. This will enable them to facilitate communication.

  • Data and analytics

Organizations are dramatically increasing their data and analytics investments to ensure they can monitor and optimize it for their commercial operations. Additionally, organizations should also increase their investments in AI tools that will help them. By investing in such tools, organizations will be better able to identify tools they should keep investing and stop investing in the ones that do not yield the desired results.

  • Customer experience 

In 2022, organizations should focus on elevating their brand to become the primary choice whenever customers seek organizations having an ease-of-doing-business. They should take steps to elevate their infrastructure to provide a top-notch customer experience. For accomplishing this, IT will need to examine how they can turn the customer and partner data into actionable insights for better anticipating customer and partner requirements.

IT leaders should focus their efforts on providing a world-class online interactive experience, with a heavy emphasis on investments for ensuring interactions in customer and partner portals.

Also Read: DO’s and Don’ts of Digital Transformation to Succeed in 2022

  • Security 

Security has been at the core for several years and in 2022, those investments will advance towards the next level. Part of the IT investment will include more funding for vendor risk management as supply chain attacks have surged. With public cloud adoption gaining traction, organizations will have to strengthen their capabilities to provide sound security and borderless networks.

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Vishal Muktewar is a Senior Correspondent at On Dot Media. He reports news that focuses on the latest trends and innovations happening in the B2B industry. An IT engineer by profession, Vishal has worked at Insights Success before joining Ondot. His love for stories has driven him to take up a career in enterprise journalism. He effectively uses his knowledge of technology and flair for writing, for crafting features, articles and interactions for technology enterprise media platforms.