Article | May 5, 2014

Survey: Businesses Lack Ability To Leverage New Technologies

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By Bernadette Wilson, associate editor, Business Solutions magazine
Follow Me On Twitter @bernadeditor

A recent survey reveals only 10 percent of CIOs say their teams are well informed of initiatives and roll out schedules and receive enough information to incorporate new technologies into their long-term objectives.

A Trace3 survey of global CIOs found 69 percent assess communication as only “good” or “fair” at their companies, and 21 percent say it is “poor.”  Common roadblocks to successful technology adoption are lack of management support (32 percent), difficulty engaging and training employees (35 percent), and an inability to customize systems to specific IT needs (28 percent). Of those surveyed, 52 percent say their company has no system in place to leverage employee insights and experiences.

“Companies today have an unprecedented opportunity to embrace technology in a way that drives top-line growth and contributes to their competitive differentiation and market expansion,” said Josh Berezin, President of Trace3. “However, our survey shows that most companies have only scratched the surface in their ability to leverage the latest, most cutting-edge technologies in a way that moves the business forward. The role of IT is rapidly moving up the value chain within organizations and has evolved far beyond process efficiency, but companies still face serious challenges from a people and process standpoint in their ability to fully embrace and utilize the latest technology innovations.”

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