In the face of economic difficulties, the majority (84%) of firms will put commercial goals ahead of sustainability, according to a study published by Software AG. Despite the fact that nearly all executives (95%) feel that sustainability is either a top priority or high priority and that a comparable percentage (97%) agree that other companies’ sustainability credentials are either critical or crucial in their own purchasing decisions
Earlier this week we published an article on a study by Capgemini in which more or less the same conclusion was drawn. Due to difficult market conditions, more than half of corporate firms globally lowered their IT expenditure on sustainability in the last 12 to 18 months, and just 33% want to raise it in the coming 12 to 18 months, stated Capgemini.
The global survey of over 2,000 senior IT decision-makers by Software AG came from the U.S., Canada, U.K., Germany and France.
The majority of businesses (87%) say they deal with digital transformation and sustainability separately. Organizations place a high focus on digital transformation. In fact, more than two thirds (69%) of CEOs want to shift funds from other areas to their initiatives for digital transformation.
Business executives claim that edge computing (27%) and cloud (45%) technologies have the greatest beneficial effects on sustainability. Together, they make it possible for businesses to see how they affect the environment, which helps them cut waste and emissions while also lowering costs and inefficient processes. On the positive side, sustainability strategies have already been incorporated into the technological roadmaps of 33% of firms.
“In the current climate, it’s no surprise that commercial objectives are a top priority – they have to be otherwise organizations cannot continue to operate,” said Sanjay Brahmawar, CEO at Software AG. “We are keen to help organizations to find solutions using the ‘Genius of AND’, where they don’t have to be torn between commercial and sustainability objectives. The right application of mission critical technologies can make enterprises more connected. When this happens, and data is free to move around it and be accessible to everyone who needs it, we will start to see progress in multiple areas at once.”
Improvements in the areas of edge computing and cloud will also have a positive economic impact, according to the Software AG report. For instance, hybrid cloud environments with API support let users benefit from increased efficiency and cutting-edge new services. As for sophisticated analytics and decision-making, data integration enables firms to mix numerous data streams. Through the use of Internet of Things (IoT) sensors and other devices that can make choices based on the data they collect, edge computing may provide insight over extensive activities.
Alongside these benefits, there are also costs to inaction. In fact, 82% of businesses openly acknowledge that they would take legal fines rather than commit to sustainability programs. This is probably due to how expensive and challenging it is to complete such undertakings. Beyond the expense of non-compliance, the majority (84%) feel that businesses are also likely to lose workers without a clear sustainability strategy. This danger is actual because, according to 82% of businesses, staff do not have the same explicit sustainability goals, rewards, or reporting as they have for commercial activities.
Software AG aims at making the Internet of Things simpler. It was established in 1969 and helps in providing the experiences that clients, partners, and staff currently demand. Its technology builds the digital framework that links ‘things’ including sensors, machines, and devices, as well as applications, devices, data, and clouds. It assists over 10,000 enterprises in becoming genuinely connected businesses and enables them to take better choices more quickly. The business employs more than 5,000 people in more than 70 countries while its yearly sales exceeds €830 million.