The 4th Annual EMEA and APAC Clarity Industry Study: Trends and Insights for Architecture, Engineering and Consulting Firms report from Deltek, the leading global provider of software and solutions for project-based businesses, has found that in EMEA and APAC, investment in technology was a top priority for 45% professional services firms, followed by expansion into new markets (42%) and attracting new talent (40%). Further, the majority (79%) of architecture & engineering (A&E), and consulting firms plan to invest more in emerging technologies in 2023 with very few planning to lower their budget.
This may be indicative of the top concern senior decision makers have in 2023 – cyber-security risk/breaches (63%), which narrowly beats concerns around recession (62%) and inflation (61%). Senior managers in A&E, and consulting firms are aware of the tangible benefits of investing in technology. Two out of five felt it offered the largest opportunity to grow, either via investing in existing IT infrastructure (26%) or in technological innovations (15%).
Keeping pace with technology is also seen as crucial to maintaining a firm’s position in the market, with nearly two-thirds (74%) of A&E and consulting firms saying they will lose market share within two years if they fail to make progress in digital transformation. However, these concerns are driving forward digital transformation plans, with firms feeling more confident they will be delivering in five years. Currently, 29% of firms rated themselves in “mature” (18%) or “advanced” (11%) stages of digital transformation, but this increases to 63% anticipating they’ll be “mature” (34%) or “advanced” (29%) in five years’ time.
Further, two in five (40%) say they are ‘very’ well-prepared to implement their top priorities for digital transformation. Amongst the small number that feel unprepared (8%), the primary reason is inadequate training and support for employees, highlighting a knowledge gap or lack of…
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