Tech Fail: The High Cost of Poor IT Performance
Technology is no longer just servers in the basement. IT systems underpin every business process, every employee action, and every customer touch point. Downtime at anyplace in that chain is costing the enterprise money, resources, and brand damage. And the fact is that most companies don’t have the insight into technology performance to diagnose, let alone treat those failures.
Technology Failure = Business Failure
To determine the true impact of technology performance issues we surveyed business executives from Fortune 500 companies — and found that the true cost of technology failure is staggering. We also found that despite a growing dependence on technology, few businesses give performance the attention and investment it requires. The results of our IT performance survey provide a clear picture of the short- and long-term costs of technology failure and a true understanding of what and who suffers as a result. Of the more than 300 global executives surveyed:
- 48% said they experience technology failures daily.
- Nearly 75% reported the frequency of failures is increasing or staying the same.
- 81% said the same major tech failure has occurred multiple times.
- Only one-third regularly collects data and quantifies the impact of failures.
Poor IT Performance Is a Monster Issue
Got monster IT problems? Most technology failures are caused by a lack of understanding about the impact of technology on business and the importance of performance engineering. Learn how to stop reacting and start predicting.
Survey: Technology's Impact on Business
Our survey confirmed that businesses are treating the symptoms, not the causes, of technology failures. And the closer you look, the larger the ramifications of tech performance issues.
“When our distribution inventory databases went down, we couldn’t ship our product. Plus, we lost awareness of stock levels, causing us to resort to a manual recount. The bottom line was a big loss in sales, plus some very upset customers.”
— Manufacturing Executive
What are technology failures really costing your business? Read the full survey report, "Measuring the Business Impact of Technology Performance."
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Only 33% of businesses are monitoring and collecting data on their IT systems, but 90% are making additional investments in IT to resolve a tech issue. Sounds like a recipe for wasted effort and money.
Are you ignoring technology performance issues? You could be in for monster problems.
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An airline’s reservation system goes down and thousands of passengers are stranded, hundreds of flights are delayed. An issue at a big social network site causes a chain reaction, taking down multiple third parties. A glitch in a financial system causes panic across the globe.
Today, every company is a tech company. Techfails — caused by poor technology performance — costs businesses big bucks – and get noticed by a demanding public.
How exactly are technology failures impacting businesses, and how are customers reacting? Watch our live techfail Twitter feed to find out.