Intelligent CIO LATAM Issue 14 - Page 35


Latin American executives generally stand out for their resilience , high work capacity and success in challenging circumstances . Despite the odds , companies continue with digitization initiatives , and IDC sees them moving forward with their plans in this regard .

IT development in Latin America has a 6.5 % advantage over economic growth . If an approximate economic growth of 2.4 % is expected , the enterprise IT market comparatively shows a growth of around 10 %. For example , in the enterprise market alone , the figure is above the average advance in technology investment , which places technology as a key factor in the region .
IDC observes that each country has defined specific policies when it comes to international business . At the moment , the way they manage budgets and contracts outlines the company ’ s situation in the face of the latest global economic crises and the need to continue their efforts and the Digital Transformation journey .
The good news is that despite concerns about inflation , there is confidence about IT investments in Latin America . 41 % of companies ’ IT budgets in the region are higher in 2022 compared to 2021 , while only 11 % of organizations plan to spend less .
• Review contracts and their policies to renegotiate if necessary . Evaluate pricing requirements and flexibility as old contracts reach end-of-life .
• Also , consider the impact of adjacent costs such as energy , warranties and service availability . It may make more sense to pay today for more flexibility tomorrow . Service providers and suppliers should offer skills to help overcome future crises and inflationary pressures .
• Strategies , plans and budgets should include long-term talent capture and upgrades to keep workers current . Consider this , particularly in IT security , cloud engineering , DevOps , and other technologically demanding areas . In addition , look for partners , managed services , and other specialized professional sources for projects hampered by costs and delays . p
41 % of companies ’ IT budgets in the region are higher in 2022 compared to 2021 , while only 11 % of organizations plan to spend less .
Insight and strategy are the keywords for companies to move towards digital-first status , becoming customercentric organizations from the inside out and onward .
Tips for CIOs in Latin America :
• Companies should look inside their organizations to assess and maintain a complete view of their IT strategy and platform , eliminate all unnecessary and wasted resources , and have visibility into spending .
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