That figure is up from 42 per cent in 2023, with almost half (46 per cent) of organisations saying rising costs present the biggest challenge to their business.
The study found that financial constraints (37 per cent), legacy technology (31 per cent) and cybersecurity concerns (27 per cent) were the biggest barriers preventing them doing their job effectively. Nearly one third (32 per cent) of respondents said that enhancing their cybersecurity, including cybersecurity resilience plans, was a priority this year.
A further 32 per cent said that building or improving their digital business model was a key focus. Many organisations recognised the need to streamline their current technology supply chain over the next 12 months, with three-quarters (76 per cent) describing this as important or essential.
Lyndsey Charlton, COO at Daisy Corporate Services, said, "IT and business leaders are acutely aware of the challenges posed by rising costs. While doubling down on cost savings, organisations are also attempting to build long-term resilience to future proof their operations.
"It's no surprise that many enterprises are looking at adopting new digital models and strengthening their cybersecurity posture, but these upgrades must be done in a cohesive and cost-effective manner."
Two-fifths (40 per cent) of respondents said that technology should help their business improve operational performance over the next year. Almost two-thirds (63 per cent) of organisations said that cloud services would be their investment priority over the next 12 months, followed by cybersecurity (47 per cent), and mobile and wireless solutions (40 per cent). With a growing number of AI use cases and benefits emerging, more than one third (37 per cent) of organisations see AI technology as an investment imperative.
Beyond budget constraints, concerns over data security were cited as the biggest barrier towards making technology investments in the next year, according to almost half (45 per cent) of the respondents. A changing workforce (36 per cent) and unclear benefits (33 per cent) were the other main reasons which would prevent organisations from making significant technology investments.
The research also reveals that organisations are committed to their environmental, social and governance (ESG) responsibilities. More than three-quarters (78 per cent) said that the ESG commitments from suppliers are a high or very high priority. In addition, 46 per cent of enterprises said that they try to extend the lifespan of devices by repairing or refurbishing as needed.
Charlton added, "Technology will continue to play an important role in helping organisations to become more efficient and meet their ESG goals. However, without a solid strategy underpinned by the right skills, organisations may fail to fully realise all the benefits. At a time where budgets are coming under increased scrutiny, it is vital that organisations work with trusted partners that can help them optimise and future proof their IT investments."