Tech UPTechnologyInflation hampers investment in technology, but does not stop...

Inflation hampers investment in technology, but does not stop it

Investment in technology is one of the priorities for companies in all areas and this aspect does not stop, even when companies accept that inflation and market uncertainty represent significant obstacles to continue with the digitalization of their corporations.

According to the study “Investment in innovation vs. Inflation”, prepared by Citrix, in Mexico, 61% of the organizations mentioned that inflation is the biggest barrier to promoting their innovation and digitization projects.

However, five in 10 companies indicated that the expected impact of inflation has led them to increase investments in technology, with the aim of supporting remote and hybrid work, with 43% of leaders saying they need to offer flexible work. to attract and retain talent.

Jose Luís Martínez, managing director of Citrix Mexico, mentions that the investments are focused on three main elements. One of them is the implementation and improvement of their projects for the digital transformation of the business.

The second is the cloud, which is allowing remote or hybrid work schemes to be applied. “Companies have completely changed, but trends are maturing towards remote work models. The labor demand and supply now have flexibility as their main feature and the cloud allows them to comply with it”, he comments.

Finally, the expert mentions the importance of cybersecurity, as companies continue to bet on new business models in which they move their operations towards digital environments and “security crosses all organizations”.

“Defending information and systems, as well as having secure architectures at the level of computer attacks, continues to be a priority. Even with inflation, budgets are targeting the element of cybersecurity because they know that any project, public or private institution is vulnerable”, he details.

According to Sophos data, in 2021 alone ransomware grew 600% in Mexico and 74% of the organizations that participated in its study were victims of this type of attack, in addition to paying, on average, $482,446.

The Citrix study indicates that 50% of companies will prioritize investments in security (for both hardware and IT operations) and 33% will do so to strengthen cybersecurity against software-based risks and attacks.

In addition, more than half of organizations (56%) will invest in digital technologies and initiatives to improve the employee experience in the remainder of the year, and 33% will invest in cloud migration solutions for greater business agility.

“The money is worth less, but the adoption has been constant, fast and it has also been demystified that a hybrid or remote operation is equal to insecurity,” concludes Martínez. “Everyone is making investments, some are more directed or better planned because despite the macroeconomic elements of the country, the leaders know that if they do not transform towards flexibility they lose competitiveness.”

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