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The Innovation vs. Technical Debt Tug of War

Technology leaders are exploring new ways to drive innovation and maximise the value of IT in a changing world driven by disruption and a need for acceleration

Innovation is the name of the game in today’s global market. Recognising this new reality, CIOs, CTOs, CISOs and other technology executives and leaders are exploring new ways to fuel innovation throughout their organisations. However, there are many roadblocks on this path.

Take, for example, the specter of technical debt, which is hampering a business’s ability to innovate and grow. Our research indicates that organisations spend nearly one-third of their IT budgets and invest a fifth of their resources in technical debt management.

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For this global survey of more than 1,000 CIOs, CTOs, CISOs and other technology executives and leaders, Protiviti set out to understand how organisations are tackling their current and future technology needs – specifically, how they are pursuing innovation initiatives that will fuel long-term value while also addressing the burden of managing their organisation’s technical debt. We also explore the types of emerging technologies in use today or that organisations are planning to implement, as well as challenges related to skills, talent and collaboration.

Analysis of this research exposes a number of trends and themes that should be of great interest to technology leaders seeking to help their organisations achieve competitive advantage and grow their capabilities and offerings.

Read our key findings

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Organisations are spending an average of 30% of their IT budgets on technical debt management.

Topics

Cybersecurity and Privacy IT Management, Applications and Transformation

Innovation is a clear goal for most – strategies and approaches are still works in progress

Innovation is critical in an ever-changing business environment. Organisations that fail to prioritise innovation are more likely to fail.

Strategies to organise for innovation and address roadblocks vary

Innovation cannot happen without building a business culture that fosters innovation and extending that culture takes people, skills and agility.

Technical debt remains a major burden (on an organisation)

As organisations strive to increase their focus, and time and resources, on innovation, technical debt becomes a significant concern and burden.

Innovation elevates security concerns

While many organisations are pursuing an innovation agenda, security risks are on the minds of many technology executives.

Attracting and retaining top talent drives technology adoption and innovation

Organisations are deploying a number of innovative and emerging technology tools, but there is significant disparity in the findings that seem to depend on the maturity and benefits of each technology.

A call to action for technology leaders

Read about steps companies should undertake or continue over the near term to ensure they can increase their agility and sustain their innovation and transformation journey successfully over the long term.

Survey methodology and demographics

Protiviti surveyed more than 1,000 CIOs, CTOs, CISOs and other technology executives worldwide to ascertain the status of several concepts around innovation and technical debt.