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PwC’s 6th Annual Digital IQ Survey suggests New Zealand companies’ technology investments may not be paying off, even though digitisation is the biggest transforming trend impacting Kiwi business.

The survey shows just one in five global business and IT executives understand what digital means for their business and how to use technology to advance their business goals, in an environment where digital spending is increasing.

“With the worldwide IT spend predicted to grow by more than 3% this year, reaching NZ$4.4 trillion, it’s crucial businesses unlock the potential of their technology investments,” PwC Partner and Digital Market Leader Paul Brabin says. ”Our study shows organisations that get it right will be twice as likely to be top performers in revenue growth, profitability and innovation.

“Technology is a great enabler, and our ability to use it well is the greatest predictor of performance. Simply put, you can’t afford to underestimate digital if you want to stay in business today.”

This finding is consistent with PwC’s 17th Annual Global CEO Survey that shows how 91% of New Zealand CEOs believe technology will be the biggest transforming trend for their business over the next five years.

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