Business
monday.com’s Latest Study Reveals That 55% of Business Leaders in UK Plan to Increase Software Budgets in 2023
The company also announces a new strategic hire in Global Chief Information Officer, Tsfarir Ezra LONDON--(BUSINESS WIRE)-- monday.com (NASDAQ: MNDY), a work
About this update from Monday.com Ltd.
[{"type":"text","content":"\nThe company also announces a new strategic hire in Global Chief Information Officer, Tsfarir Ezra\n\n LONDON--(BUSINESS WIRE)--\nmonday.com (NASDAQ: MNDY), a work operating system (Work OS) where organisations of any size can create the tools and processes they need to manage every aspect of their work, today released a new report surveying UK IT decision makers on how they are approaching work, IT spend, and software decisions. The report, created in partnership with independent research company RepData LLC, found that IT teams in the UK and across the world are most focused on finding software that increases organisational efficiency, and they’re willing to consolidate their tech stacks to create a more productive workplace. Together with these insights, the company also announced a new strategic hire: Tsafrir Ezra has joined monday.com as Chief Information Officer to spearhead data management across the entire organisation.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221115006218/en/Global Data infographic from the monday.com IT Decision Makers survey (Graphic: Business Wire)\nmonday.com’s study emphasises that despite challenging economic conditions, 54% of the UK teams surveyed have increased their software budget in 2022. Moreover, 55% of respondents are going to raise budgets in 2023. Despite looming financial uncertainty, IT leaders see this continued investment as a means to pave the path forward for future success.\n\nThe report also indicates that IT decision-makers in the UK were more dissatisfied with their software systems than those in the US and Australia, with 65% stating they have to rely on four or more tools. Furthermore, the research shows that the US and Australia respondents rated their work productivity higher than those in the UK, demonstrating the need for the latter to consolidate tools in order to improve workflow efficiencies. In line with this, 87% of the UK-based IT decision-makers are planning to find ways to best consolidate their software platforms in 2023.\n\n“These survey findings emphasise that the global digital transformation is well underway and here to stay,” said Tsafrir Ezra, Chief Information Officer, monday.com. “While trends are emphasising consolidation, we expect 2023 to be a promising year for the software industr...