Outdated technology is hindering innovation, says NTT Data report

NTT DATA has released its 2024 Infrastructure Lifecycle Management Report, revealing that 80% of organizations worldwide believe that outdated technology is impeding innovation. This comprehensive survey highlights the need for consistent management of technology infrastructure throughout its lifecycle, which is a time-consuming and costly process.

The report includes several key statistics. Notably, 100% of C-level executives in Australia and New Zealand (ANZ) agree that legacy infrastructure is significantly impairing business agility. Additionally, 70% of currently active hardware in these regions will no longer be supported by 2027. Only 34% of ANZ companies fully align their technology strategy with business needs, ranking lowest among countries surveyed. Additionally, 66% of ANZ organizations admit that a large portion of their network assets are aging or retired.

The study covers data accumulated from 2022 to 2023, covering more than 248 million active assets across 130 countries and input from nearly 1,400 senior technology decision makers. The study highlights the challenges organizations face maintaining their technology infrastructure with rapid modernization and an evolving complex supplier ecosystem. The report also suggests that inefficiencies in lifecycle management can lead to significant operational issues, including inadequate coverage levels, prolonged incident resolution times, security vulnerabilities, and compliance issues.

Rob Lopez, Senior Vice President, Technology Solutions, NTT DATA, commented, “The infrastructure lifecycle is a critical part of the IT management process. It is both an opportunity and a challenge for leadership, as effectively leveraging it can bring significant business benefits, from improved efficiency to increased innovation. However, ineffective lifecycle management can also introduce many risks to security and business continuity, and become a significant operational impediment. Through the Lifecycle Management Report, our goal is to help organizations strengthen their infrastructure lifecycle processes and unlock the significant benefits they can provide.”

The 2024 Infrastructure Lifecycle Management report provides actionable insights to help IT leaders avoid and mitigate risks associated with infrastructure management, including developing a comprehensive view of technology assets, standardizing procurement practices, and optimizing costs while improving service delivery to stakeholders. Additionally, the report highlights the environmental benefits of improved lifecycle management practices.

Among its specific recommendations, the report encourages the creation of a streamlined lifecycle approach to ensure adequate coverage and minimize labor-intensive renewal processes. It also suggests standardizing procurement methods to streamline an increasingly fragmented, multi-vendor environment. Additionally, enhanced lifecycle management procedures can help realize sustainability benefits that are a new focus for many organizations around the world.

The findings of the report highlight the critical importance of infrastructure lifecycle management for business continuity and mitigating operational risks. Rapid technological evolution and increasing complexity of IT ecosystems require organizations to proactively enhance their lifecycle management strategies.

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