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Retail IT execs struggle to get budget for innovation

June 27, 2018 / Dan O'Shea

Retail CIOs and IT decision makers are unsatisfied in the ability of their software and enterprise application partners’ ability to help them drive innovation, according to a global multi-industry survey from enterprise software company Rimini Street and technology research firm Vanson Bourne. The survey of more than 900 technology and finance leaders found that only 22% of retail sector respondents are completely satisfied that their software providers and enterprise applications are helping them innovate faster and accelerate their business strategies, according to Rimini Street and Vanson Bourne. Almost 90% of IT and finance executives from across multiple industries agreed that their organizations should be spending more money on innovation, according to "The State of IT Innovation: Priorities and Challenges." There are a couple of different threads to discuss here. One is that, generally across industries, IT and finance leaders see a need for more innovation. Over 80% of those surveyed acknowledge that there is a link between IT innovation within their companies and the overall competitive position of those organizations, according to the study.