PR85713

LONDON, Sept. 22, 2020 /PRNewswire=KYODO JBN/ --

- Companies spent around US$15bn extra a week on technology during the pandemic's first wave

- Security and privacy the top investment, but cyber attacks jump for 4 in 10 IT leaders

- Huge surge in IT spend isn't sustainable - as 2020/21 technology budgets come under more strain

- 8 in 10 IT leaders concerned about the mental health of their tech teams due to the pandemic

Companies spent the equivalent of around US$15bn[1] extra a week on technology

to enable safe and secure home working during COVID-19, reveals the 2020 Harvey

Nash/KPMG CIO Survey [http://www.hnkpmgciosurvey.com/ ]. 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[2] in just three months, as

the global crisis hit, and lockdowns began to be enforced.

The largest technology leadership survey in the world of over 4,200 IT leaders,

analyzing responses from organizations with a combined technology spend of over

US$250bn, also found that despite this huge surge of spending, and security &

privacy being the top investment during COVID-19, 4 in 10 IT leaders report

that their company has experienced more cyber attacks.

Bev White, CEO of Harvey Nash Group said: "This unexpected and unplanned surge

in technology investment has also been accompanied by massive changes in how

organizations operate with more organizational change in the last six months

than we have seen in the last ten years. Success will largely be about how

organizations deal with their culture and engage with their people."

Steve Bates, Principal, KPMG in the US and global leader of KPMG

International's CIO Center of Excellence, said: "IT in the New Reality will be

shaped by economic recovery patterns unique to each sector, location, and

company. While every CIO is responding to these forces differently, one thing

remains consistent; the urgency to act swiftly and decisively. Technology has

never been more important to organizations' ability to survive and thrive."

Full release here

[http://www.harveynash.com/latest-news/covid-19-forces-one-of-the-biggest-surges

-in-technology-investment-in-history-finds-worlds-largest-technology-leadership-

survey ].

Media Contacts:

David Pippett

ProServ PR

david@proservpr.com

+44 (0) 7899 798197

Michelle Thomas

Harvey Nash

michelle.thomas@harveynash.com

+44 (20) 7333 2677

Amy Greenshields

KPMG International

+1 416 777 8749

amygreenshields@kpmg.ca

[1] See notes to editors.

[2] See notes to editors.

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Source: Harvey Nash Group