Unsuccessful tech projects get axed during the pandemic
Research from London-based digital agency Studio Graphene shows that digital transformation during the pandemic hasn't been all success stories.
The survey of 750 decision-makers within UK businesses finds the majority (56 percent) have successfully adopted one or more new technologies since the beginning of the pandemic, with 54 percent saying that using new tech has been key in enabling them to overcome challenges posed by COVID-19.
However, 30 percent revealed they have scrapped one or more unsuccessful digital transformation projects that were launched since the beginning of the pandemic.
Ritam Gandhi, founder and director of Studio Graphene, says, "Failure is part and parcel of innovation, so these findings should not discourage businesses that are working to upgrade their technology. Indeed, business leaders have faced huge challenges in adapting to the COVID crisis, so it is promising to see the majority of companies have successfully adopted new digital tools."
When asked about the challenges surrounding adoption of new technologies, 28 percent of decision-makers admit that their business lacks the skills to do so, while 29 percent say they struggle to keep pace with technological developments. More than a fifth (23 percent) say they are disappointed in the way their business has handled IT projects during the pandemic.
Clearly failures haven't dampened the enthusiasm for change, however, as 65 percent of UK companies say they plan to increase the amount they spend on IT in the coming 12 months, and 62 percent plan to launch new digital transformation projects.
"It's great to see that confidence has not been knocked by the unsuccessful turnout of some IT projects, with the vast majority planning to ramp up their tech investment over the coming 12 months," adds Gandhi. "In trying new projects, even those that failed, businesses will have learned valuable lessons that they can carry into their future digital transformation – they will be better for the experience."