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Now in its 22nd year, the Harvey Nash/KPMG CIO Survey 2020 is the largest IT leadership survey in the world, with over 4,200 responses from CIOs and technology executives across 83 countries.

We received 1,094 responses in the UK: 47 percent of respondents were either CIOs or IT directors. This year’s UK report references both pre-COVID-19 findings as well as responses during COVID-19.

The pandemic has exposed a growing digital divide, shifted some priorities and amplified many of the challenges that IT organisations faced prior to COVID-19. However, two long-standing priorities for boards remain the same:

  • Improving operational efficiency
  • Improving customer engagement

Find out more about the full 2020 CIO survey report here.

How does being a digital leader differentiate you from your industry peers? Discover key findings from the sector reports below. To discuss these findings in more detail, get in touch with our key contacts listed in the reports. 

Asset Management industry insights

Even before the pandemic, the asset management industry was grappling with the need to evolve and transform business and operating models due to several converging factors, including increased global competition, the rising cost of regulatory compliance and tax reporting, and downward pressure on management fees.

The top three business issues that management boards are looking for the IT function to address are:

  1. Improving operational efficiency
  2. Improving customer engagement
  3. Enabling the workforce

For further insights, read the full sector report here.

Insurance industry insights

Insurance businesses face a different landscape in the wake of COVID-19. A surge in customer inquiries and claims due to the pandemic, at the same time as the need to move staff and operations to a remote footing, put significant pressure on systems and ways of working. Although the sector proved itself adaptable, traditional insurers have historically lagged behind other sectors in digitisation efforts.

The top three business issues that management boards are looking for the IT function to address are:

  1. Improving operational efficiency
  2. Improving customer engagement
  3. Developing new products and services

For further insights, read the full sector report here.

Banking and capital markets industry insights

Whilst demand for banking services has remained as high as ever, the outlook has distinct operational challenges. Many organisations see COVID-19 impacting their bottom line in the near to medium term due to headwinds from low interest rates, higher anticipated credit losses as business failures and unemployment levels rise, and lines of businesses within banking and capital markets recovering at different rates (e.g., retail vs investment banking) — making accelerated digital transformation an urgent necessity in order to increase operational efficiencies, create scalability, and build streams of data.

The top three business issues that management boards are looking for IT/technology to address are:

  1. Improving operational efficiency
  2. Improving customer engagement
  3. Improving agility and speed to market

For further insights, read the full sector report here