Tag: survey

2 in 3 Irish businesses to increase investment in cybersecurity according to Dell Technologies survey

A new survey undertaken by the Dell Technologies in association with the Executive Institute found that two-thirds (66%) of businesses in Ireland are planning to invest in their cyber security as cyber threats continue to increase. Moreover, 93% of organisations have already taken steps to enhance their data protection measures in the past twelve months.

The latest ‘Digital Pulse Survey’ from Dell and the Executive Institute of over 150 business leaders, shows that Irish businesses are struggling under the weight of increasing cyber-attacks. The majority of respondents (64%) say that the ever-growing number of attacks is the main barrier to enhancing their organisation’s cyber resilience, with 13% citing lack of in-house cyber skills and expertise and 9% citing outdated technology and upfront investment in cybersecurity solutions.

Highlighting the cyber dangers posed by hybrid working, 68% of businesses have already taken steps to mitigate the cyber risks of flexible and remote working models.

The Digital Pulse Survey also reveals that Irish businesses are increasingly turning to technology to help them achieve their sustainability goals. Over 8 in 10 business leaders (84%) say that technology has positively impacted their sustainability goals to date. Over one-third (37%) are using technology to increase energy efficiency, 24% are using it to facilitate hybrid or remote working, and 20% are using technology to help reduce carbon emissions.

In addition, almost half (49%) of Irish business leaders say they are considering replacing outdated technology in the next 12 months to reduce higher energy costs.

Commenting on the survey results, Catherine Doyle, Managing Director, Dell Technologies Ireland, said: “It’s clear that cyber risk continues to weigh heavily on business leaders as they advance their digital transformation plans. The vast majority have taken steps to enhance their data protection, and two-thirds are looking to increase this investment in the year ahead. Proactive and timely action will be vital to strengthening cyber defences.  

“As businesses work to enhance their cyber resilience, it’s also positive to see the role of technology in driving sustainable innovation. From using technology to increase energy efficiency and facilitate remote working to achieving operational efficiency, digital transformation can help leaders shape a more sustainable future.”

Conor Morris, Managing Director, Executive Institute, said: “The results of the survey suggests that the threat posed by cyber-attacks continues to grow and threatens the future success of our member organisations. These attacks are becoming more frequent and more sophisticated.  Planning for and adopting a security strategy that remains current and as up to date as new cyber threats themselves will be a key factor going forward.”

42% of businesses in Ireland plan global expansion, more than international average

More than two-in-five (42%) businesses in Ireland are planning for international expansion in the next 12 months – up 10% on the previous year – according to the Equinix 2023 Global Tech Trends Survey. The research suggests that enterprises in Ireland are being more bullish about expansion versus the average business worldwide. Globally, Equinix found that 32% of businesses have plans to expand internationally in the next 12 months.

Equinix’s survey, which included 100 IT decision-makers in Ireland, explored IT leaders’ perceptions and plans relating to expansion. The survey results follow a period of uncertainty as businesses reassessed their economic future and the potential impact of geopolitics on their operations.  The research found that 79% of enterprises anticipate expansion at some level – either in Ireland, into a new market, or internationally – up from 74% the previous year. Globally, 74% of businesses have plans to expand in the next 12 months.

Highlighting the growth and importance of cloud computing, Equinix’s research found that IT leaders in Ireland are now almost as likely to support expansion virtually as they are physically. The survey found that 44% of businesses with expansion plans will hire IT staff in their new location, while 42% will support the expansion virtually via the cloud. The latter is an increase of 10% on the previous year as more enterprises now see virtual expansion as a cost-effective, flexible element to their overall expansion strategy.

However, these anticipated expansions face external threats such as issues relating to data sovereignty, which has come into focus due to recent geopolitical events. The majority of IT leaders in Ireland (84%) said that the implementation of new, stricter laws would impact their plans. In the most extreme cases, 13% said that strict new data sovereignty laws would mean that they would no longer consider the expansion, while 43% said that they would press ahead with the expansion but it would require major changes and potential delays to their plans. A smaller portion, 28%, said that it would require minor adjustments to their plans, but that they would still go ahead.

Meanwhile, when asked in what areas they felt least prepared to deal with the challenges of complying with incoming or stricter data sovereignty regulations, 70% of IT leaders in Ireland – versus 56% globally – cited inadequate infrastructure.

Peter Lantry, Managing Director for Ireland, Equinix, said: “Our research shows that businesses in Ireland are feeling far more confident about their growth potential this year. With that, we are seeing a marked shift in how enterprises are viewing international expansion. It no longer needs to be a labour-intensive and costly move with boots on the ground. Digital infrastructure is enabling businesses to deploy virtually via hybrid multi-cloud, providing them with the flexibility to scale their operation up and down as needed, without the cost and commitment associated with establishing a physical presence.

“As a leading provider of digital infrastructure for businesses across the globe, Equinix is playing an important role in providing the digital backbone to Ireland’s ambitious export economy as we move towards a truly global, digital world of business.”

John O’Donoghue, Senior Global Solutions Architect, Equinix, said: “Data sovereignty is a critical element in any expansion plan that requires entering new markets. However, it can be a minefield for organisations as they navigate the ever-changing legislative landscape across multiple jurisdictions. To help enterprises with this challenge, last year, Equinix joined the Gaia-X initiative. This is an international nonprofit bringing businesses, the scientific community and political representatives together to confront the challenge of data sovereignty in today’s world. By bringing multiple cloud providers together, we are giving enterprises in Europe the freedom to share their data and services while maintaining data sovereignty.

“Business today is digital and it is vital for every enterprise – whether they are looking to expand internationally or comply with data legislation – to ensure they have the robust digital infrastructure in place to stand out.”

On Wednesday, 20th September, Equinix will host a webinar exploring business growth into new markets. John O’Donoghue, senior global solutions architect at Equinix, will be joined by Niall Kitson, TechCentral.ie editor; and Thanos Chatzis, Kaizen Gaming’s head of technology & infrastructure. Together, they will discuss: What’s getting in the way of your digital expansion plans’? To register for this free webinar, visit www.techfire.ie.

Rise in the number of families planning to save in response to cost-of-living pressures

As cost-of-living pressures continue, savings rates appear to be making a steady recovery this year after savings and spending habits were impacted by COVID-19 and a sustained period of inflation. 

According to Zurich’s annual Cost of Education survey, conducted by iReach this May and June, 56% of families in Ireland already have savings in place that have acted as a shield against the cost-of-living pressures. This figure is slightly up on 2022 (54%). 

The good news is that plans to save are on the increase, with the highest levels seen since 2019. Pre-COVID, around 40% of families had committed to putting money aside for a rainy day, which had decreased to 32% by 2022, before climbing to 51 % this year. 

Commenting on the findings, Jonathan Daly, Head of Life Retail Distribution and Propositions at Zurich Life Assurance plc said: “It is encouraging now to see the rise in the number of families planning to start saving to plan for the future. In terms of saving for your child’s education, planning ahead and opening a savings account when children are young will help you to manage education costs before they become a significant financial burden.”  

 

The Cost of Education survey provides insights into how much parents are spending, what factors are influencing how much they save and how they plan to save for the cost of their children’s second and third level education. 

The research has found that: 

  • 56% of parents said they have family savings in place that are used to reduce the financial strain of inflation, up 2% on 2022.
  • More than half (51%) of parents now say they are more likely to create a family savings fund to protect against the impact of potential future inflation rises, a big increase of 19% from last year.
  • The majority (68%) of students studying at third level education currently live at home, up 10% compared with 2022.
  • Parents of third level students paid on average €3,931 on third level fees in this year’s survey. 
  • The average annual cost of third level student accommodation was €10,077, while rented accommodation had an average annual cost of €5,179.
  • Parents estimated the total cost of secondary school education at €3,581.
  • 28% of parents have taken out a loan to help pay for their children’s secondary school costs.

 

Parents can use Zurich’s Cost of Secondary School and College Calculators to work out the estimated costs of sending their children to secondary school and college and to see how much they might need to save each month to meet these costs:

The calculators are also accessible via Digital Voice Assistants – see here for more: https://www.zurich.ie/blog/zurich-ireland-voice-services/ 

One in five people in Ireland never carry any cash

One in five people in Ireland never carry any cash and of those that do, almost one-third (30pc) carry €20 or less. This is according to a new survey[1] by Royal London Ireland, one of the leading life insurance and pensions companies in Ireland.  Furthermore, men are more likely than women to never carry cash (24pc of men versus 16pc of women). Of those who do carry cash however, men tend to carry higher amounts on them than women.

The Royal London Ireland survey, which examined the use of cash by people in Ireland, found that the top five reasons people needed cash regularly was to pay for small daily grocery items such as milk and bread (58pc), to pay service providers who prefer cash (38pc), to buy lunch or take-away coffee or tea (34pc), to give tips (32pc), and to donate to charity (27pc).

Other highlights from the survey include:

  • Almost one in five people (19pc) carry more than €100 regularly.
  • People in Leinster appear to be the least likely to carry cash. One in four people in Dublin (25pc), and almost a third of people in the rest of Leinster (28pc) say they never carry cash. By contrast, only one in ten (10pc) of those living in Ulster and Connacht never carry cash.
  • 50pc of people aged 18-24 said they never carry cash, while just 10pc of people aged 55 or older said the same.

Commenting on the survey findings, Barry McCutcheon, Proposition Lead at Royal London Ireland said:

 

“We’ve seen an increase in cashless payments in Ireland in recent years[2], so the numbers of people who carry very little cash, or any at all, is unsurprising. Despite the increasingly digital nature of Irish banking and payment systems in recent years, we can see from the survey findings that cash still plays an important role in Ireland’s society and economy, with many people relying on it when going about their day-to-day routines. This balances with a European Central Bank survey in 2022 which showed that the majority (54pc) of Irish consumers’ in-store transactions were in cash[3].

 Our survey gives weight to the assertion that the younger you are, the less likely you are to carry cash. Findings from the survey revealed that half (50pc) of those aged between 18 and 24 say they never carry cash compared to only one in ten (10pc) people aged 55 or over”.

The Need for Cash

Mr McCutcheon observed,

“It’s clear that there is a need for cash, with 80pc of people surveyed carrying some amount daily. The survey sheds some light on just why people carry cash and we found that the top three reasons were: to pay for small daily grocery items such as milk or bread (58pc), to pay service providers who prefer cash (38pc), and to buy take-away lunch, coffee or teas (34pc). It would appear that pocket money in the form of cash hasn’t gone out of fashion either – more than a quarter of people (27pc) between the ages of 35 and 54, the age cohort likely to have children, carry cash for this reason”.

Mr McCutcheon concluded:

“In the Department of Finance’s published Retail Banking Review[4], a recommendation was made for legislation to be introduced to safeguard the reasonable access to cash. It is clear from our research that for many, there are times when only cash will do.

Whether you are someone who prefers using cash or not, tracking and managing your finances is important when it comes planning your financial future.  If you are looking for advice about financial planning, a Financial Broker can help you assess your current situation and put a personalised plan in place that meets your individual needs and circumstances.”

[1] Of 1,000 Irish adults nationwide carried out by IReach

[2] As per the latest Payment Monitors Report from the Banking and Payments Federation of Ireland, which was published on 29/6/2023, and release in relation to same.

[3] As per ECB study on the Payment Attitudes of Consumers in the Euro Area, published in December 2022.

[4] See Retail Banking Review, published November 2022..

Survey shows 24% increase in IT investment with AI and cloud top of the priority list

A survey from Irish IT service provider Auxilion has revealed that business leaders in Ireland expect to invest an average of nearly €1 million on IT in 2023, with the average IT budget for 2023 expected to come in at €988,726.

This marks a 24% increase in IT investment compared to previous research by Auxilion which showed that C-suite executives were planning to invest an average of €747,071 by the end of 2022.*

The company’s latest survey of 100 C-suite executives in larger companies or enterprises (more than 250 employees) across Ireland, carried out by Censuswide, found that while the average IT investment looks set to rise this year, almost half (49%) of respondents are more hesitant due to economic uncertainty.

However, investment appears to be much needed given that 31% don’t think their organisation is equipped with the necessary processes and tools to support the modern workplace. The leading aims of workplace transformation were revealed as increasing productivity (36%), driving business growth (32%), and improving sustainability (31%).

In terms of the main investment areas for 2023, these will be Artificial Intelligence (AI), cloud infrastructure, and IT service desk – each 28% respectively. Twenty-two per cent of business leaders are also prioritising spending across hybrid working technologies, green technology, Robotic Process Automation, and collaboration platforms.

While companies are continuing to develop the modern workplace, hybrid working models are also being reviewed. In fact, 45% said they are planning to reassess their company’s hybrid working model in 2023 and 35% are considering moving to a four-day working week in 2023.

Perhaps this is unsurprising with 45% of business leaders also admitting that the new world of work brings a new level of pressure to their role. Moreover, some 40% do not believe that employees are coping well with the blurred boundary between work and home life which comes with hybrid working.

Commenting on the results, Auxilion CEO Philip Maguire said: “The past number of years have been challenging for many companies and it’s understandable that business leaders might have started 2023 off being somewhat hesitant with their budgets. However, it’s positive to see that organisations are planning to invest more in IT and are open to implementing new technologies to shape the modern workplace.

“With businesses looking to further digitally transform and modernise their operations, while also adapting work styles and patterns, there has been a shift in the provision of managed services enabling greater automation and creating more self-sufficiency. In turn, this will see operations streamlined, people supported, and businesses grow. It will also support innovation and sustainability, which are crucial for the modern business leader.

“While every organisation is different and has specific objectives, all business leaders need to carefully plan their investment in technology. Working with a trusted provider can help on this front in terms of identifying the right solutions and services – from cloud to collaboration – to overcome challenges and capitalise on opportunities.”

Survey reveals 1 in 10 attendees have dozed off in boredom at an event

AVCOM, the premium event production agency, today announces the results of a survey which has revealed that 1 in 10 (11%) of corporate event attendees in Ireland have dozed off in boredom after becoming disengaged at an event. The findings, which are part of AVCOM’s ‘Experience More: The Future of Events Report 2023’, found that 97% of respondents have become disengaged at an event.

AVCOM’s report uses research, carried out by Censuswide, to delve into the future of corporate events. Carried out among 200 professionals in Ireland who attend corporate events, the research provides powerful insights into the future of corporate events in Ireland, with the role of technology proving to be a major factor for engaging event-goers. When not engaged, event attendees admit to having worked (51%), looked at their phone (48%), eaten or drank something (41%) or fallen asleep (11%). A significant proportion of attendees have even carried out household chores (23%).

The report found that attendees seek to have more experiential elements incorporated into events in order to keep them engaged. Respondents identified networking (56%) as the primary motivation for attending an event, followed by hearing from subject matter experts (50%). On average, the maximum length of time event attendees want a speech or presentation to last is 26 minutes, 18 seconds.

 Although traditional technologies can enhance the experience of event attendees, there is an increasing desire for a more immersive experience. Event attendees are interested in technologies such as a dedicated event app (86%); high production values covering staging, visuals, lighting and set design (81%); Virtual Reality (71%); Augmented Reality (67%); and holograms (65%).

While technology has the potential to engage attendees, it can also have a negative impact when it malfunctions. When asked about the most frustrating technology issues that they have encountered at events, 58% cited bad audio. Following this was poor video quality during presentations (45%); inadequate video quality when joining virtually (41%); difficult-to-see presentations (38%); no or bad Wi-Fi (35%); and poor lighting (20%).

Paul Murphy, Managing Director, AVCOM, said: “The events industry has transformed, and we recognise the need to adapt to meet the changing needs of our customers and their attendees. Our research highlights that the expectations of audiences have evolved, and it is no longer enough to focus on traditional technologies. Audiences now demand more sophisticated technologies to keep them engaged, like virtual and augmented reality. Even holograms aren’t being ruled out by today’s tech-curious event attendees.

“Through the use of life-centred design-led thinking and the latest cutting-edge technology, AVCOM creates dynamic and immersive event experiences that engage attendees on multiple levels and leave a lasting impression. We believe that events are about more than just providing information; they are about bringing people together, fostering connections, and enabling collaboration. Our commitment to our customers is to work closely with them to deliver best-in-class experiences that enable attendees to experience more and achieve their goals, both online and offline.”

Check Your Drink releases results of a nationwide survey on drink spiking

Ireland’s first drink spiking detection test, CYD Check Your Drink, has released the results of a nationwide survey on drink spiking, shedding light on the issue’s prevalence and impact on the Irish population.

According to the survey, more than half of respondents, at 57%, know someone who has been spiked in the past, while nearly 19% of respondents self-reported being spiked themselves. When asked about their feelings towards drink spiking, 54.15% of people said they were more afraid of being spiked now than in the last five years, while 30.77% reported having the same level of concern as before.

The survey indicates that the Irish population is more aware of drink spiking issues than before and recognises the need to address the problem.

Commenting on the research, Owen McKeon, CEO of Phrassa, CYD Check Your Drink states: “Our research clearly shows that drink spiking is a pervasive problem in Ireland, and it’s time we took action. We are extremely proud to offer a simple and effective solution that can help people protect themselves and prevent becoming victims. It’s our hope that Check Your Drink’s self-test kits will become a standard part of any night out, ensuring that everyone can enjoy a safe and positive social experience.”

9 in 10 people want the choice to pay in cash or card

The vast majority of Irish people (95pc) believe that everyone should have the choice to pay in either cash or card for goods and services.

Findings, from the latest Taxback.com Taxpayer Sentiment Survey, which polled over 1200 taxpayers nationwide highlight widespread support across the board for new Government legislation proposed to protect people’s rights to access cash, which would ultimately also safeguard their right to pay in cash.

The “Reasonable Access to Cash” Bill has been tabled as Ireland’s continued moves towards a cashless society. The new law, if introduced, was drafted on foot of a recommendation in the Government’s recently published Retail Banking Review. That review also called for the development of a new National Payments Strategy, which would take into account advances in digital payments, and guide how future changes should be made around access to cash criteria and other issues. This strategy could see the laws around reasonable access to cash extended to other firms or sectors, thereby forcing shops, cafés and other outlets to accept cash payments, rather than to insist on card payment.

Headline findings from the Taxback.com Taxpayer Sentiment Survey reveal

  • Four in ten (40pc) people would support the proposed law as they would like the option to pay in cash and card.
  • One in five (18pc) would support such a law as they usually pay in cash.
  • One in ten (9pc) would do so as they believe elderly people will benefit.
  • Almost three in ten (28pc) would be in favour of the legislation as they believe the law would be useful, even though they themselves only pay by card.
  • Only one in twenty (5pc) wouldn’t support the planned legislation, stating that they believe it would be a backward step.

Commenting on the findings, Marian Ryan, consumer tax manager with Taxback.com said:

“The pandemic has accelerated the use of digital payments – as have the increased moves by the banks to curtail access to cash banking services. While many people have embraced card payments, Irish people are in almost full agreement that having the choice to pay in cash or card and the ability to access cash when it is needed should be a fundamental right. Otherwise, we risk ostracising people who, for whatever reason, don’t have there will be some people who simply will not be able to buy items or services which they badly need – simply because they don’t have card or cash on them. Some people struggle with online and card payments and find it incredibly difficult to manage their finances as a result of the increased moves towards digital banking and payments. This is simply unfair and borders on ostracism.”

One of the primary aims of the Bill is to force banks offer customers “reasonable access to cash” which could include having a minimum number of cash points per town or region.

Ms. Ryan went on to say,

“In recent years, banks have restricted and withdrawn many over-the-counter cash services in their branches – making it increasingly difficult for customers to manage their day-to-day banking. Many bank customers have had to travel lengthy distances to cash cheques or withdraw cash as a result – particularly in rural areas.”

Online mobile and banking payments hit record highs in Ireland, with nearly €4.8bn worth of contactless payments made in the third quarter of 2022.