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Despite Recession Fears, Companies Aren't Pulling Back on Technology Investments

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The economy may be headed for a recession, but when it comes to technology spending it’s full steam ahead.

"In this environment, we're competing for making the most and longest term value for our businesses," he said."So ask yourselves: where do I have a competitive advantage and where can I play offense?", said for many companies the tech agenda and the business agenda have become one and the same.

Global Payments is particularly focused on cloud native products and platforms, analytics, AI and machine learning, areas he describes as essential to"driving positive business outcomes." The same holds true for its health-care customers that leveraged telemedicine during the pandemic when patients were unable to see their doctors in person."The pandemic accelerated the deployment of so many of these new technologies and now businesses aren't willing to go backwards," Sacchi said.

Despite the uncertain economic climate, well-funded, cash-flow positive firms are in a particularly good position to create even more distance between themselves and competitors, Allan said."This is what separates the good from the great leaders, the ones who can recognize this time and capitalize on it," he added.

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