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Business investment in IT has slowed down due to recent events

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The ICT industry leaders recognize that professionals in the sector have acquired a greater voice in business decisions. However, their ability to act on business acceleration may be limited, according to new Appian research.

Almost nine out of ten Spanish developers (86%) perceive that their organization is stopping focusing on innovation projects to focus on cost reduction, which could slow down the momentum achieved after the rapid technological deployment during the pandemic. This could have detrimental implications for business growth and the technology transformation of companies at a time when agility and new ideas should be more encouraged.

Appian promoted a European study in which 1,500 software developers and engineers were surveyed in Spain, France, Italy, Germany, the Netherlands and the United Kingdom called From boom to bust: Why empowering developers is vital for business innovation. It reveals that almost 9 out of 10 respondents in Spain (88%) affirm that they are concerned that there has been a direct transition from the pandemic to a recession, because it is causing IT budgets and staff to freeze, which that will slow down technological development, digitization and modernization of companies.

This new context contrasts with the progress that occurred during the pandemic, when there was a great demand for innovative and fast business actions. 90% of those surveyed in Spain affirm that the circumstances of the last two years accelerated their company’s commitment to IT as the engine of business transformation. Furthermore, 85% of them say that they were included as a fundamental part of business decision-making. However, this trend is changing and IT professionals warn that companies that choose to undo this path and stop betting on the influence of technological profiles in business decisions run the risk of seeing their benefits diminish.

Regarding the possible consequences of freezing the budgets and staff of IT departments, the top four answers given by the Spanish developers were:

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  1. The organization will be increasingly fragmented and divided into silos (50%).
  2. New platforms would take longer to integrate, which will reduce the return on investment (56%).
  3. It will complicate the ability to take advantage of growth opportunities that arise (48%).
  4. IT staff turnover will increase (46%).

On the other hand, the research also draws conclusions on the opinion of software developers and engineers regarding the ability of their organizations to innovate and make business decisions. based on their knowledge in the face of uncertainty.

Professionals in Spain identified three key factors to sustain growth in an uncertain economic context:

  1. The adaptation of the business strategy to economic changes (47%).
  2. The use of new Technologys and platforms (43%).
  3. Maintaining focus on the core business (42%)

In short, the data shows that developers are convinced the need to improve collaboration between business and IT to make the right business decisions based on technology.

Currently, a third of the Spanish professionals surveyed (32%) affirm that the excess of silos in their organization prevents a complete understanding of how to use IT. While more than half (54%) maintain that their business partners believe that it is faster to go directly to IT solution providers, instead of involving specialized teams within the company itself. To overcome these challenges, 90% of developers in Spain believe that the commitment to IT profiles with business skills should be increased, as well as business professionals with IT knowledge. This would be the best way to successfully manage growth and change in organizations.

IT managers also believe that technology can help companies to be more efficient at a time when they seek to do more with less. In fact, 85% of respondents believe that Technologys like low-code and artificial intelligence/machine learning can help address business challenges facing IT departments, while helping organizations adapt. to change and expedite work.

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Titbit raises 150,000 euros in its second investment round

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Three years ago, two entrepreneurs from Barcelona They launched an innovative project within the audiovisual production sector. Arnau Seix and Adrià Coll They founded the digital video startup, Titbit, weeks before COVID broke out, and in the middle of the pandemic they managed to raise their first round of investment. Three years later and with a consolidated project, the production company closes a new capitalization in which he has once again raised 150,000 euros.These rounds of adjusted capital allow us to grow and evolve in a conscious and reasonable way, without having to make disproportionate growth promises that imply making investments at a frenetic pace”explains Arnau Seix, who together with his partner and co-founder is committed to continuing to strengthen the bases to achieve the objectives set.

On this occasion, Titbit has given entry to reference investors in the world of advertising, and among them stands out one of the leaders in the sector, Juan Manuel de la Nuez, a professional with extensive experience and former CEO of the Wunderman Thompson agency. “In my professional career, I have met clients many times to whom the issue of content production for external communication or even internally, it was a real headache for them, since the agencies could not respond competitively in time or cost, and neither could the production companies. For this reason, when I got to know Titbit, I understood that it is a solution that responds to these headaches and therefore represents a clear potential for growth and investment.”.

With this round, Titbit aims to increase its national expansion, both commercially and in product development. The startup’s headquarters are located in Barcelona and also has an office in Madrid. “We want to create a commercial network that allows us to help other countries to achieve more agile and economical productions, since we have confirmed that the creation of digital content suffers the same problems outside our borders”. In addition, the celebration of the third anniversary of the startup coincides with a change of corporate image and the launch of the new website, which is in line with continuing to innovate in the sector, reflecting the value of its disruptive proposal.

Regarding the evolution of the project in the short and medium term, at a time of economic uncertainty like the current one, companies apply budget cuts in marketing and advertising, but even so they need to communicate more than ever, since they must compensate for the loss of sales caused by the crisis. “Many brands are looking for a new way to produce their content for digital channels, and this is where Titbit’s proposal becomes more relevant than ever”, explains Arnau Seix, who also sees international markets as an interesting option to continue growing.

“In these three years we have seen how big brands have connected with our message: closed and transparent prices, much more agile productions (maximum 15 days) and unlimited rights of use in all their pieces”. Stephanie SalvatMarketing Manager of Hoteles Hesperia, tells about his experience with Titbit that “It is the first production company I know and with which I collaborate that has such a clear differential value proposition”.

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Creek Technologies acquires Imburse to improve the payment experience

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Operation of great importance in the insurance industry. Smart solutions provider, Creek Technologys, has just announced the definitive agreement of the purchase of Imburse Paymentsa modern payment platform based in Switzerland.

The payment solution software-as-a-service (SaaS) native on the cloud de Imburse is designed for the insurance sector. It offers greater ease and efficiency in insurance transactions end to end. In addition, Imburse enables insurers to quickly connect to the entire payments ecosystem at lower cost, seamlessly integrate into existing financial infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place.

The platform is consumer-oriented and offers policyholders a flexible and easy-to-use checkout experience, as well as the possibility of directing payments quickly and safely.

As part of Duck Creek, Imburse will continue to serve its current customer base and markets, while accelerating expansion goals to new customers throughout Europe, North America and Asia-Pacific. Although Imburse will continue to be available as a standalone, the platform will be fully integrated with Duck Creek’s suite of technology solutions, further enabling insurers’ digital transformation goals through modern tools.

Product for the global industry of the sector

“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also offers insurers incredible flexibility and payment options”said Mike Jackowski, CEO of Duck Creek Technologys. “Imburse has a robust team that represents the core values ​​of Duck Creek. They have deep experience across the payments ecosystem and will help extend Duck Creek’s leadership in the insurance industry.”

“Being a part of Duck Creek will further accelerate our mission to simplify the way businesses around the world access the global payments ecosystem,” said Oliver Werneyer, CEO of Imburse. “We are excited to be a part of Duck Creek and to work together to deliver modern technology innovations that will transform the insurance industry of the future.”

The acquisition remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023.

The Creek Technologys entry acquires Imburse to improve the payment experience is original of MuyPymes

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The Community of Madrid chooses EAE Business School as project accelerator

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EAE Business School Madrid, which is part of Planeta Formación y Universidades, has been chosen by the Community of Madrid What innovative project accelerator of entrepreneurship, in collaboration with other prestigious entities such as Lanzadera and Wayra. This initiative is expected to contribute to accelerating 50 new ideas and projects.

Within the framework of the Recovery, Transformation and Resilience Plan, financed by the European Union – Next Generation fund, the business school has been chosen as the head of this initiative in Madrid whose objective is to promote entrepreneurship and the talent of the region, strengthening the value chain of the cultural and creative industry and, therefore, stimulating the recovery of the Spanish economy.

«Being the only educational institution chosen by the Community of Madrid as an accelerator agent is an important recognition of which we are very proud. Collaboration in this project reinforces the great work that EAE Business School Madrid is doing to promote entrepreneurship and innovation, vital aspects for our school. In addition, this initiative reinforces our commitment to position EAE Business School Madrid as a key school for attracting young entrepreneurs with disruptive and creative ideas that will lead the future of the business and economic ecosystem in Madrid and, therefore, in Spain.”says Javier Almazán, Director of EAE Business School Madrid.

Flexibility and adaptability of business projects

The accelerator and its development programs will contribute to increasing the flexibility and adaptability of new business projects, in a global context of continuous change. Its objective is not only focused on providing capital through seed investmentsbut also in accompanying ideas with high growth potential in order to implement them successfully.

To this end, EAE Business School Madrid will play the role of mentor and tutor to entrepreneurs, offering intensive training programs and thus contributing to generating an ecosystem of cooperation and communication with other agents and strategic entities.

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In addition, this mentoring will boost the transformation of cultural activities towards digitization thanks to the incorporation of new Technologys in projects, favoring synergies between the cultural and creative industry with other economic sectors. For this reason, the collaboration of EAE Business School Madrid will improve access to financing for cultural projects, accelerating the professional growth of entrepreneurs and companies.

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