A new survey reveals that business leaders in Ireland expect to invest an average of nearly €1m IT this year, with the average IT budget for 2023 expected to come in at €988,726.
Irish IT service provider Auxilion said this marked a 24% increase in IT investment on 2022 when company bosses said they were planning to invest an average of €747,071 by the end of 2022.
The company's latest survey of 100 C-suite executives in larger companies or enterprises (more than 250 employees) across Ireland was carried out by Censuswide.
It found that while the average IT investment looks set to rise this year, 49% of respondents are more hesitant due to economic uncertainty.
Auxilion said that investment appears to be much needed given that 31% do not think their organisation is equipped with the necessary processes and tools to support the modern workplace.
The leading aims of workplace transformation were revealed as increasing productivity (36%), driving business growth (32%), and improving sustainability (31%), today's survey shows.
The main investment areas for 2023 include Artificial Intelligence (AI), cloud infrastructure, and IT service desk.
22% of business leaders are also prioritising spending across hybrid working technologies, green technology, Robotic Process Automation, and collaboration platforms.
Today's survey shows that while companies are continuing to develop the modern workplace, hybrid working models are also being reviewed.
45% of business leaders said they are planning to reassess their company's hybrid working model this year with 35% considering moving to a four-day working week in 2023.
45% of business leaders also admitted that the new world of work brings a new level of pressure to their role, with 40% saying they do not believe that employees are coping well with the "blurred boundary" between work and home life which comes with hybrid working.
Auxilion CEO Philip Maguire said that the past number of years have been challenging for many companies and it is understandable that business leaders might have started 2023 off being somewhat hesitant with their budgets.
"However, it's positive to see that organisations are planning to invest more in IT and are open to implementing new technologies to shape the modern workplace," Mr Maguire said.
"With businesses looking to further digitally transform and modernise their operations, while also adapting workstyles and patterns, there has been a shift in the provision of managed services enabling greater automation and creating more self-sufficiency," he said.
"In turn, this will see operations streamlined, people supported, and businesses grow. It will also support innovation and sustainability, which are crucial for the modern business leader," he added.
