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2020 Harvey Nash/KPMG CIO Survey: COVID-19 forces one of the biggest surges in technology investment in history

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It is revealed that in a week, companies spent the equivalent of around US$15bn extra on technology to enable safe and secure home working during COVID-19, as reported in the 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in history – with the world’s IT leaders spending more than their annual budget rise in just three months, as the global crisis hit and lockdowns began to be enforced.

“As digital leaders accelerate their investments, they will be better positioned to pivot and scale into new opportunities. But on the opposite side of that, those who had not invested in emerging technology were more likely to pull back their investments. So, this crisis has served to emphasize a growing divide between organizations driving their strategy through technology, and those that aren’t,” observed Datuk Johan Idris, Managing Partner, KPMG in Malaysia.

 

The findings from the survey also revealed Cyber security (35%) is now the most ‘in demand’ technology skill in the world. This is followed by skillsets in organizational change management (27%), enterprise architecture (23%), and technical architecture and advanced analytics both at 22% to make up the top 5 most scarce technology skills.

According to Alvin Gan, Head of IT-enabled Transformation at KPMG in Malaysia, this is the first time a security related skill has topped the list of global technology skills shortages for over a decade.

Click here to read the full article published by Malaysia SME.

© 2020 KPMG PLT, a limited liability partnership established under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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