Published: 10 May 2023
R&D leaders continue investing in technology to support their business priorities: product or service competitiveness, digitalization, and talent management. With their final decision authority in technology investments, R&D leaders on average spend $1.9 million per individual solution.
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R&D leaders intend their technology investment to support certain business priorities, including addressing data governance, regulatory compliance and risk management issues, digitalization of processes and operational model, automation of business processes, digitalization of products or services, and modernizing of legacy systems.
The top challenges to executing their plan are resources diverted to other business requirements, internal stakeholder consensus on strategy or approach, data and information security, and acquisition and retention of critical talent.
R&D leaders will use an integrated technology solution approach to achieve business priorities by buying a mix of software, services, and/or hardware in a single purchase from
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