With high interest and inflation rates driving up the cost of goods and services, organizations may be forced to cancel plans to purchase new software or hardware. The survey found that business leaders are extremely concerned about the current economic environment. The survey was conducted in November of last year. The report leverages survey findings from over 500 VP and C-suite-level business leaders in North America and Europe and finds that executives are prioritizing cost cutting to maintain profitability and avoid more extreme measures like layoffs. The report, commissioned by Foxit and entitled "Balancing Tech Investment and Cost Cutting in the Face of Macroeconomic Uncertainty," shows executives are keen to reign in technology spending in the face of rising inflation and interest rates and a slowing global economy. Study Finds Organizations May Seek Relief from Economic Challenges by Replacing Overpriced Incumbent Technology That Has Been Slow to InnovateįREMONT, Calif., Ap/PRNewswire/ - Foxit, a leading provider of innovative PDF and eSignature products and services, helping knowledge workers to increase their productivity and do more with documents, today announced findings of an Enterprise Strategy Group report investigating how senior executives are navigating tech investments in the current macroeconomic climate.
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