Despite Covid-19 pandemic, 90 per cent of companies are not cutting down on their digital transformation budgets, according to a survey done by Tata Consultancy Services.

In a global survey titled ‘Digital Readiness and Covid-19: Assessing the Impact’, TCS spoke to 300 senior business leaders from large enterprises — 97 per cent with revenue above $1 billion and 44 per cent above $10 billion — spanning 11 industries across North America, Europe and Asia.

The report pointed out that while 68 per cent of companies have seen revenue declines amid Covid-19, 90 per cent of organisations have either maintained or increased their digital transformation budget.

WFH

Prior to the pandemic, the average organisation surveyed had only 9 per cent of its workforce working mostly from home. That percentage has increased seven-fold and is expected to remain elevated through 2025, when the average company projects 40 per cent of its employees

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Bill Bush
 |  The Columbus Dispatch USA TODAY NETWORK

Columbus is more dependent on municipal income taxes than any of Ohio’s six largest cities, and that revenue is now threatened by a coronavirus-created, work-from-home movement that many experts say may reshape workplaces permanently.

Columbus leads Ohio’s “Big 6” cities — the others are Cleveland, Cincinnati, Akron, Dayton and Toledo — in the percentage of “own-source” revenue, 88 percent, that comes from the city income tax, according to a new study from the Greater Ohio Policy Center.

Own-source funds are those taxes over which cities have sole jurisdiction to set rates and collect, such as income taxes, and exclude state and federal grants and fees for services.

“This is an issue that is not going to go away,” said Alison Goebel, executive director of the Greater Ohio Policy Center, a nonpartisan nonprofit that advocates for the revitalization of Ohio communities, particularly

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The conclusion to last year’s instalment of this article stated that “IT budgeting is challenging at the best of times, but for 2020 an extra helping of political and economic instability — possibly even global recession — will make things even harder for CIOs.” That was with a backdrop of international trade tensions — particularly between the US and China — and, in Europe, the UK’s protracted and increasingly painful extrication from the European Union following the 2016 Brexit referendum.

None of these factors have gone away — but they have, of course, been overshadowed by the COVID-19 pandemic, which began in Wuhan, China, in December 2019 and has come to dominate the fortunes and agendas of individuals and families, businesses and organisations, and nations.

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Image: Google Trends

In this article, we’ll summarise the emerging macroeconomic trends, examine analyst forecasts for IT spending in 2020/21, and look at the responses

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