London – (NewMediaWire) – December 9, 2022 – Major UK companies face an
existential threat unless they find better, clearer ways to measure the value
of IT projects and justify investments in digital innovation; according to a
new esynergy report, Technology
projects fail to deliver value.
The report, based on surveys with senior
technology decision-makers at major organisations across the UK, contends that
businesses which struggle to quantify the benefit of technology face being
outpaced by more digitally savvy challengers. Not only does this threaten the
future of those businesses, but also threatens the influence and survival of
enterprise IT.
Why aren’t IT
projects seen to deliver?
Organisations see technology as a key response to
market challenges and opportunities. Nearly half (40%) of respondents to
esynergy’s survey said they planned to invest in sustainability technology,
while 38% focused on cybersecurity following the invasion of Ukraine. IT
projects that offer to save costs, tackle supply chain challenges and solve
skills shortages are among the major investment targets of CEOs and executive
boards.
However, the report also found that nearly half
(46%) of organisations said technology projects failed to meet business
objectives, took longer than expected, or were not adopted. Across the board,
only a quarter of technology projects successfully met their objectives.
One fundamental reason for this apparent
disappointment, it emerged from the report, is that those business objectives
are difficult to measure in the first place. Return on investment (RoI) can’t
be measured accurately or insightfully if it can’t be tied to a clear, quantifiable
business need.
How metrics unlock
the benefits of technology
Metrics are the answer to the problem of measuring
business need and project outcomes, agreed esynergy’s respondents. But in many
cases, these metrics are not being provided by those companies’ technology
partners. More than a third (36%) of all those surveyed said there weren’t
enough metrics in place to demonstrate the impact of projects.
If enterprise IT providers are to differentiate
themselves in the market and ensure their survival, they should deliver clear,
accurate metrics tailored to the organisation and the project. Nearly
two-thirds (62%) of business leaders told esynergy that if a technology vendor
provided metrics on objectives and progress, this would be a clear
differentiator for them. Of senior management, 74% said clear metrics would
attract them to a tech provider.
The value of technological innovation is not in
question. What is stopping organisations from benefiting fully is the failure
to provide measurements and therefore understanding of business need and of
the technology that solves those needs.
“Technology providers need to play a
significant role in the delivery of technology projects,” said report
author Mark Chillingworth. “The esynergy survey reveals that CIOs and CTOs
require partnerships that are driven by measured and agreed metrics of value
delivery.”
About this report
esynergy worked with Censuswide to survey senior
technology decision-makers working in UK firms with 200 or more employees in
July and August 2022.
About esynergy
esynergy is a technology consultancy that accelerates business value for its clients.
Working with enterprises and scale-ups in highly regulated industries, they
build scalable platforms, products, and services. The London-based firm has
delivered projects for businesses and organisations across the UK and beyond,
including RBS, FIS, Elavon, HMRC, HMPO, and Wayfair. esynergy hand-picks a team
of domain and technology experts for each engagement, drawing upon a trusted
community that it has built and nurtured since 2001.
Media Contact:
Website: https://esynergy.co.uk/
Address: 50 Fenchurch St, London, EC3M 3JY
Email: info@esynergy.co.uk
phone number: +44 20 7444 4085
