August 30, 2018 – InfinityQS International announced its latest manufacturing industry survey revealed that 64 percent of global manufacturers find a lack of available budget as the main barrier preventing them from greater IT investment. Further, 59 percent cite lack of available resources, and 47 percent claim other business priorities as additional factors holding them back from their digital ambitions.
The survey obtained responses from 118 global manufacturers with questions aimed at understanding their level of digital maturity, existing digital infrastructure, and IT expectations over the next 18 months. Despite nearly half (47 percent) of the respondents expecting to invest in data collection technologies, the lack of budget, resources, and time are standing in the way of their plans for digital transformation.
Michael Lyle, President and CEO, InfinityQS, said, “Having the right technology in place to capture data is becoming critical, but our survey results suggest that demand is not translating into action. Restrictions on IT budgets mean firms must continue relying on legacy approaches – such as pen and paper – to record information. On the surface, manufacturers may think they are saving money by not innovating, but in fact, what they are doing is opening themselves up to misinformation by not making use of accurate data streams.”
