Developing new products top priority for Australian CIOs: Telsyte

ZDNet 

Australian CIOs are shifting their focus away from reducing operational costs and towards developing new products and services, according to new research by analyst firm Telsyte. The Telsyte Australian Digital Workplace Study 2017, which surveyed 420 CIOs and IT decision makers, found that Australian enterprises are spending more of their IT budgets on product development, making it their number one priority compared to two years ago when their focus was on reducing operational costs. The reason for this reshuffling of priorities, according to Telsyte, is so that enterprises can avoid becoming irrelevant in the face of domestic and international competition. "A critical tipping point has been reached with Australian organisations rapidly adopting emerging technologies, developing new products and services, and looking to ICT to build competitive advantage in the face of increased global competition, and driving an intelligent automation revolution," said Telsyte Managing Director Foad Fadaghi. To achieve digital transformation, CIOs are collaborating more with leaders in other business units within the organisation where IT spending is increasing.

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