57% of companies plan to invest more in technology over the next two years and 35% are committed to at least maintaining the investment, according to a study published by Telefónica Tech.

In the study ‘Sowing digital seeds for the future’, the lack of budget is pointed out as the greatest limitation to comply with the firm’s technological strategy, according to more than 810 professionals from Germany, Brazil, Spain, United Kingdom and Republic of Ireland.

Among the main limitations raised by companies are the lack of budget and internal skills, mentioned by between 41% and 32% of respondents. It is followed by partner constraints (30%) and unproven technology and choice of strategy (both at 24%).

effect of the pandemic

60% of the organizations consulted have highlighted that their firm is in a better position than before the pandemic, with 42% of the Spanish organizations consulted accelerating their digital strategy. However, slightly more than a quarter of the study participants (28%) still only take care of their immediate needs in the technological field.

Likewise, 72% of Spanish companies have recognized that they had to make emergency purchases to adapt to the pandemic that will not add value in the long term.

However, more than half of the respondents have improved their efficiency compared to the pre-pandemic stage with biotech (80%), retail (76%) and finance (72%) as standout sectors.