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Nearly 70% of tech spending is wasted

From CNBC

"Large companies often spend a good deal of money on cultivating their technology, but a new study suggests nearly 70% of what they spend may be misallocated.

In a study, Genpact Research Institute recently found that, of nearly $600 billion spent on digital projects, almost $400 billion of it was invested in projects that fall short of expectations and returns on investment (ROI). In fact, much of what companies invest in technology sustains existing, or ‘legacy’ systems, rather than new technology, the report found.

In a global market for technology spending estimated at $4 trillion, an amount that research firm Gartner expects to shrink by nearly 5% this year, the wasted money can be significant. It suggests companies will be operating from a smaller pool of money and will need to invest it wisely.

Out of a host of technology that includes cloud computing, big data and social technology, ‘at least 67% of those efforts are either scrapped or end up being underwhelming,’ Gianni Giacomelli, Genpact's senior vice president of product innovation, told CNBC in an interview.”

Read more at CNBC


NCC Weekly News Update 3 November 2015 

 

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