Despite economic downturn, 60% of firms plan to hike spending on tech: BCG study

Management consulting firm Boston Consulting Group (BCG) on December 2 announced the launch of BCG X, a hybrid of consulting and tech build and design capabilities. The new unit will bring together nearly 3,000 technologists, builders, and designers.

“BCG X is a multiplier of our clients’ technology teams, working in close collaboration, to bring our pool of leading talent in AI, software engineering, digital growth, green and deep tech,” said Jessica Apotheker, BCG chief marketing officer.

The consulting firm also released new research, titled ‘Mind the Tech Gap’, which found that despite economic headwinds, 60% of companies still plan to increase tech and digital spending in 2023.

"Respondents expressed concerns and pain points regarding the ecosystem of tech partners and vendors, including cumbersome coordination across vendors (85%); cookie-cutter solutions (75%); and lack of help in prioritizing steps of the transformation (70%)," the research report said.

The study is based on a survey of nearly 2,700 executives from companies in a wide range of industries across 13 countries.

“What’s clear from our survey is that most companies are struggling to deliver bottom-line results for their digital transformations and are facing consistent pain points with their tech partners and vendors. BCG X, as an integral part of BCG, will bring tech build and design capabilities together to solve these problems," said Sylvain Duranton, BCG X’s newly appointed global leader.