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The tech landscape in New Zealand is undergoing a significant transformation. A recent Forbes Enterprise Technology Purchasing Report highlights a major shift in who’s calling the shots when it comes to tech investments. Forget the traditional IT department solely dictating purchases; now, Artificial Intelligence (AI), cybersecurity concerns, and business-led committees are driving strategy and powering growth across Kiwi businesses.

The Rise of the Business-Led Committee

Traditionally, IT departments held the reins when it came to technology decisions. However, the report reveals a clear trend: business units are increasingly involved, and often leading, the charge. This makes perfect sense. Business leaders are focused on achieving specific goals – increasing revenue, improving efficiency, enhancing customer experience. They’re looking for technology solutions that directly address these needs, and they’re willing to take ownership of those decisions. This isn't about sidelining IT; it's about collaboration. IT remains crucial for implementation, security, and ongoing management, but the strategic direction is now more closely aligned with overall business objectives.

AI: The Driver of Innovation & Investment

Artificial Intelligence isn’t just a buzzword anymore; it's a critical investment area for many New Zealand businesses. The report underscores the growing demand for AI solutions to automate tasks, improve data analysis, and unlock new insights. From streamlining operations to personalising customer interactions, AI is proving to be a powerful tool for competitive advantage. We're seeing increased investment in AI-powered analytics platforms, machine learning models, and robotic process automation (RPA) solutions – all geared towards boosting productivity and driving innovation.

Cybersecurity: A Top-of-Mind Priority

With the increasing sophistication of cyber threats, cybersecurity has moved firmly to the top of the agenda. The report highlights that businesses are no longer viewing cybersecurity as a purely technical issue; it’s now a critical business risk that needs to be managed strategically. This means greater investment in security tools, employee training, and robust incident response plans. The move towards a 'zero trust' security model – where no user or device is automatically trusted – is gaining traction, along with increased adoption of cloud-based security solutions.

What Does This Mean for NZ Businesses?

This shift in tech buying power has several key implications for New Zealand businesses:

• Increased Agility: Business units can move faster to adopt new technologies that meet their specific needs.
• Improved ROI: Technology investments are more closely aligned with business goals, leading to a better return on investment.
• Stronger Collaboration: IT and business teams must work together to ensure successful technology implementation and adoption.
• Greater Focus on Value: Vendors need to demonstrate the clear business value of their solutions to win deals.

Looking Ahead

The trends highlighted in the Forbes report are likely to continue in the years to come. New Zealand businesses that embrace this shift in tech buying power – by fostering collaboration, prioritising AI and cybersecurity, and aligning technology investments with business objectives – will be best positioned to thrive in the evolving digital landscape. Don't just buy technology; invest in solutions that drive real business outcomes.