LONDON, December 2022: Leading decision-makers at major UK companies want better ways to measure the value of IT projects and justify their digital investments, finds a new report from technology consultancy esynergy. The report, Technology projects fail to deliver value, is based on extensive surveys conducted on behalf of esynergy throughout July and August 2022. esynergy's research partner Censuswide surveyed senior technology decision-makers at UK firms with 200 or more employees, in a bid to gauge the alignment of technology projects with business objectives. esynergy's report revealed a widespread struggle to confidently measure the success of IT projects, with 58% of respondents saying such projects fails to align with business objectives. Respondents reported being keen to invest in technology that might help them solve timely issues such as energy costs and skills shortages, but many struggle to quantify a return on investment (ROI) or determine the ongoing value of technological innovation. Key findings of the report include:
- Nearly half (46%) of organisations taking said technology projects failed to meet the business objectives, took longer than expected to be implemented, or were not adopted;
- More than a third (36%) said there are insufficient metrics in place to demonstrate the impact of technology projects;
- Nearly two-thirds (62%) said that if a technology vendor provided metrics on objectives and progress, this would be a clear differentiator for that vendor;
- Three-quarters (74%) of senior management said that clear metrics would attract them to a specific tech provider.
In conclusion, the report finds that better metrics are needed to help organisations measure their business needs and the success of technology projects in meeting these needs. "There is a worrying lack of a trusted yardstick from which technology projects can be measured," writes the report's author, Mark Chillingworth. "This is at a time when CEOs and executive boards are demanding digital transformation and are poised to make significant technology investments." To learn more about esynergy's report on measuring the value of technology projects, or for more information about esynergy's services, visit esynergy.co.uk. To download the report, visit https://esynergy.co.uk/market-research-delivering-value-2022/.
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 NatWest, Mettle, HMRC, HMPO, and Taxually. 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.