One of the biggest shifts to emerge from the fifth survey is the change in how large and medium-sized companies in Canada perceive IT. Every year since 2016, respondents increasingly said they saw IT as a strategic partner rather than an investment. However, the pandemic has turned things around, with the perception of IT returning to what it was four years ago.
Changes in the state of technological infrastructure paint a similar picture. In 2020, fewer businesses said they were using state-of-the-art infrastructure, a trend that had been gaining traction since 2016. While the proportion of businesses describing their infrastructure as functional had been decreasing since 2016, it went up in 2020 (66%).
Managers underestimate the value of their company. If you consider the value of equipment, data, and potential losses, the cost of cyber insurance would be much higher than the figures that businesses have come up with. By underestimating their value, there is also the risk that companies will be less likely to invest in security solutions.
Similar to recent years, almost nine out of ten companies were planning major technology investments over the next two years. Clear trends have been emerging since 2016, but in 2020, Canadian companies wanted to diversify their spending rather than concentrate on artificial intelligence and cybersecurity.
Proof that security is at the top of companies' agendas is the fact that it is the main reason for implementing a data governance process (44%). This percentage has increased from 32% last year. Organizations are also doing it for legal reasons, such as compliance, traceability and tax (19%), or to support business line access to self-service information (11%).
