A recent report conducted by technology consultancy esynergy reveals that top-level executives at prominent UK organizations are searching for more efficient methods for assessing the worth of IT projects and validating their digital investments.
esynergy conducted extensive reporting throughout July and August 2022 to gain insight into how well technology projects align with business objectives.
The Current State of Tech Projects in UK Companies
For this purpose, esynergy research partner Censuswide surveyed 500+ senior technology decision-makers at UK firms with 200 or more employees. The insightful study, titled “Are Technology Projects Delivering The Business Value We Hope For?” provides a detailed overview of the current state of tech projects within UK companies.
esynergy's report uncovered that most participants had difficulty determining the success of their IT projects, with 58% admitting they could not link them back to business objectives.
Although these respondents were eager to invest in technology solutions such as energy costs and skills shortages, many found it hard to work out the ROI or identify ongoing value from technological advancements.
Key Findings
Key findings of the report include:
- Nearly half (46%) of organizations taking said technology projects failed to meet the business objectives, took longer than expected to be implemented, or were not adopted;
- More than a third (36%) said there are insufficient metrics in place to demonstrate the impact of technology projects;
- Nearly two-thirds (62%) said that if a technology vendor provided metrics on objectives and progress, this would be a clear differentiator for that vendor;
- Over a quarter of organizations (35%) will spend their budget over the next 12 to 18 months on cloud and platform implementations.
The report concludes that organizations need better metrics to evaluate their business requirements and the effectiveness of technology initiatives in satisfying those needs.
“There is a worrying lack of a trusted yardstick from which technology projects can be measured,” writes the report's author, Mark Chillingworth. “This is at a time when CEOs and executive boards are demanding digital transformation and are poised to make significant technology investments.”
To learn more about the report on measuring the value of technology projects or for more information about esynergy and their services, visit esynergy.co.uk. To full report can be downloaded here: https://esynergy.co.uk/market-research-delivering-value-2022/.
About Esynergy
esynergy is a technology consultancy that accelerates business value for its clients. Working with enterprises and scale-ups in highly regulated industries, they build scalable platforms, products, and services. They are committed to delivering high-quality services that meet their clients' needs and exceed their expectations.
As part of its value-add service, esynergy runs a dedicated community engagement program designed to help its customers raise their technology and digital brand by attracting talent and engaging with diverse communities.
One of the core values of esynergy is to promote diversity, belonging, and inclusion across its internal organization, clients, and associate communities. The company is a proud signatory of the Tech Talent Charter and Race at Work Charter and a disability confident employer.
Sustainability is a fundamental aspect of esynergy's culture, and the company is dedicated to reducing its carbon footprint through various initiatives.
For instance, over 90% of its waste goes to recycling, greener forms of transport are encouraged, and the company offsets its carbon use. esynergy has partnered with Ecology to save the planet one tree at a time. As a result, every employee plants ten trees monthly, reducing the equivalent of 9 tonnes of CO2 yearly.
esynergy's technology solutions are designed to align with its clients' business objectives, driving maximum impact and value. The company's experts include its top 5% associates who form core delivery teams, luminaries who provide advisory services at critical project stages, and delivery partners who offer vertical technical expertise. By bringing together this diverse pool of experts, esynergy delivers solutions that meet its clients' most pressing technology needs.
The London-based firm has delivered projects for businesses and organizations across the UK and beyond, including NatWest, Mettle, HMRC, HMPO, and Taxually. esynergy hand-picks a team of domain and technology experts for each engagement, drawing upon a trusted community built and nurtured since 2001.
This article was produced and syndicated by Wealth of Geeks.