Emerging technology essential to business survival

Four in five Canadian CEOs now prioritizing technology investments

Seven out of 10 Canadian technology executives say that emerging technologies are essential to their organization’s future survival, according to a recent report by KPMG International and global industry analyst firm HFS Research.

“We’re starting to see a sea-change in how the C-suite views technology because of the COVID-19 pandemic, with over four in five Canadian CEOs now prioritizing technology investments,” said Stephanie Terrill, business unit leader, management consulting, KPMG in Canada, in a news release. “Canadian CEOs recognize they need to make the right investments to help them build resilience and emerge stronger from this crisis.”

But the report said Canadian companies are under investing in disruptive technologies compared to their U.S. peers. It said U.S. companies currently spend on average US$17 million per technology – 30 per cent more than what Canadians spend.

“The shift to working from home and dealing with customers online is motivating companies to embrace cloud solutions,” said Amardeep Johar, partner and head of KPMG in Canada’s cloud-based Powered Enterprise team. “The cloud helps organizations to be more agile in response to their customer needs, scale quickly to meet market demand, and operate more securely.”

 

 

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