a more strategic approach to IT investments for successfully navigating the current economic context

The current European economic landscape presents a unique set of challenges and opportunities for the digital transformation of enterprises. Managing and leveraging them is crucial to ensure the relevance and adaptability of your IT strategy.

The European economy has shown resilience in a difficult global context, with lower energy prices, easing supply constraints and a strong labour market supporting moderate growth in the first quarter of 2023. This has allayed fears of a recession and improved the outlook for economic growth, although inflation has also been revised upwards.

IT portfolio management must adapt to this economic context. During periods of growth, organisations often have the financial flexibility to invest in new technologies and innovative projects. However, with current inflation rates, a more strategic approach to investment is needed, focusing on projects that deliver immediate value and contribute to operational efficiency.

In a difficult economy, project targets may have to be reduced, timelines shortened, and budgets revised downwards. The emphasis is then on delivering value quickly and efficiently, with less margin for error. In addition, with current inflation rates, there may be a greater review of IT spending and a greater demand for transparency. This requires effective communication and stakeholder management, ensuring that the value and justification for IT projects are clearly articulated.