A survey carried out by Juniper Networks has revealed that more than half of businesses primarily depend on IT departments to boost efficiency of their operations. The survey also found that IT has been mostly falling to meet the expectations of driving business growth in new fields.
The survey polled 474 respondents across Germany, Japan, the UK and the US and about 51% of respondents are C-level and board members with the remaining comprising senior executives and managers.
The survey revealed that about 20% of the surveyed firms said that technology has a vital role in financial performance of their organisation.
About 11% of the surveyed firms agreed that the IT function could assist in business growth by identifying new market opportunities, while 8% of firms agreed that the IT function will support the development of new products and services.
According to the survey, currently, organisations have been in a rush to keep pace with the rise in data exponentially and meet rapidly changing market requirements for digital services.
The firms’ move to deliver new services will provide IT an opportunity to play a role advancing the initiatives of new business.
The surveyed firms projected that role of IT will start shifting from tools of efficiency to engines of growth and about 60% of respondents reported that IT will be very closely involved in supporting the development of new products or services for the firm over the next three years.
Collaboration and information sharing through networks is the top technology trend that would affect the competitiveness of the business, according to the survey.