Meeting the Moment: IT Spending and Trend Projections for 2022

Lukasa Insights

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What you should invest in, why you should outsource, and how Lukasa can help 

Recent reports by both Forrester and Gartner predict that corporate IT spending will rise close to 6% in 2022, totaling 4.5 trillion dollars worldwide—a 3-year growth rate of 4.6%

Technology investment spiked as the Covid-19 crisis forced companies to pivot with exceptional speed to remote or hybrid work models, and the technologies that required.

But what’s most important to understand is how companies will spend their IT budgets in the upcoming year, as society and business move toward a “new normal.” 

According to John-David Lovelock, Gartner’s Research Vice President, Distinguished Analyst, and Chief Forecaster, “Enterprises will increasingly build new technologies and software, rather than buy and implement them.” 

Technology was key to adapting workflows on the fly during the pandemic, which led tech executives to prioritize speed of delivery over perfect design. But this temporary necessity has left many companies with technical debt heading into 2022—technology, as always, has continued to evolve even in unstable Covid-era economic and work conditions. 

So next year, leading companies will invest in enterprise software and systems to facilitate seamless integration of technology and business, emphasizing infrastructure above applications.

No longer just a department tucked in a back room somewhere, technology is increasingly expected to be a principal driver of revenue. This means companies must focus on human-centered tech initiatives to improve user experience not only for employees but especially for the customer, as well as technologies that allow the business to track revenue streams and continually evaluate their systems.

Of course, at the same time, companies face the challenge of a serious tech talent crunch, greatly exacerbated by the pandemic. In the technology sector, unemployment is low, attrition is high, and there is simply a shortage of workers to meet the urgent and extraordinary needs of companies since what Forbes Magazine calls the “whirlwind” of tech adoption and digital transformation over the last year and a half. The issue is particularly difficult for small and mid-size businesses, as the biggest, wealthiest corporations are attracting top candidates with inflated wages.

The good news is that while hiring and retaining full-time employees is tough right now— and carries considerable hidden costs, including, potentially, diminishing returns once a major project is finished—outsourcing tech initiatives offers significant advantages, including reduced cost, greater efficiency, and enhanced resources.

It’s important to recognize, heading into the new year, that if your business is not spending on IT to meet this unprecedented moment—in which, as Gartner also points out, the entire future of work is being reinvented—your competitors are, and gaining great advantage.

If your company lacks the internal resources or in-house expertise to manage critical modernization, digital transformation, and integration issues, Lukasa is the perfect partner to reimagine not only your tech systems but your entire business through a contemporary lens, with data-led intelligence.

Bringing leadership, experience, vision, and exceptional listening skills, we work alongside you to gain a three-dimensional understanding of your technology and operations and offer custom solutions—unifying technology that draws together business components necessary to optimize your organization and your customers’ experience. 

Lukasa has abundant resources at the ready, right now: a complete crew of developers, architects, designers, analysts, and quality assurance specialists, with the flexibility to scale a team to fit your company and project’s unique needs. 

Our expertise in modernization, integration, new business processes and connection methods, human-centered systems, enterprise software, cloud migration, product strategy, and more will transform the way you work, and give your company the technical edge it needs to be responsive and resilient, and to supercharge productivity and profitability at this pivotal time—and into the future.

About Lukasa -
Lukasa empowers small-to-medium-sized businesses by designing and implementing custom business and technology solutions that drive efficiency, productivity, and innovation, enabling them to stay ahead in today’s rapidly-changing competitive landscape.