![]() In the midst of our changing global economy and fast-changing technology trends, technology leaders are rethinking and reprioritizing their risk profiles. The vast majority of survey respondents said their companies are developing new products or developing new relationships to expand revenue. Both actions can have a significant impact on risk management and insurance budgets.ĭespite potential staffing shortages and pressure to cut costs, technology companies are cognizant of the need to forge ahead with innovative product and service offerings to grow revenue. And close to half said their companies have implemented workforce reductions or slowed hiring. Cost reduction initiatives, such as administrative and operational cuts, were the most common actions, taken by almost 70% of respondents. More than 80% of respondents indicated that their company is taking action to counter the effects of global economic uncertainty. ![]() Firms elect to participate but do not pay to be included in the ranking. Global information technology spending is forecast to have grown less than 1% in 2022, down from 10.2% the previous year. The Barron’s 2022 Top 100 RIA Firms list, a seven-year annual ranking of independent advisory firms, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Record rates of inflation, interest rate hikes, and the prospect of a global recession now threaten the tech industry’s continued growth. But as countries recovered from the COVID-19 pandemic, 2022 brought new challenges. The ever-increasing reliance on technology and connectivity has propelled tremendous growth in the tech industry.
0 Comments
Leave a Reply. |