Government data mandates are here : IT decisionmakers must act now or pay the price later
Government data mandates are being implemented across the globe . Eric Lefebvre , CTO at Sovos , examines what this means for IT decision-makers and teams , as well as how best to prepare for data mandates .
IT spending is on the rise again . After a lull during the first part of the pandemic , many organizations have restarted the rollout of flagship IT initiatives . According to a Gartner forecast , IT budgets bounced back in 2021 and have continued to gain momentum in 2022 , with global IT spending projected to total US $ 4.5 trillion – up 3 % Year-on-Year .
However , the specter of yet more global economic uncertainty now looms over multinational organizations – forcing IT decision-makers to make tough calls on which technologies and regulations to prioritize . As they flesh out strategic plans , many are considering the potential impact of incoming government data mandates for the first time .
For the uninitiated – government data mandates make e-invoicing mandatory for businesses . Their remit and how they ’ re implemented varies by jurisdiction . But the benefits – reducing tax evasion , boosting business efficiency and providing up-to-the-minute economic data to inform government decision-making – are the same everywhere .
We ’ re seeing the implementation of government mandates driving the collection of transactional data across almost every region . They ’ ve been common in Latin America for decades and are now becoming prevalent in Asia , the Middle East and Europe too .
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