70% of Businesses are Unsatisfied with Network Capabilities

Almost 70 percent of CEOs are not satisfied with network capabilities and believe that their network maturity level is hurting business delivery, according to Global Network Report from NTT.

Just two in five businesses are very satisfied with their current network capabilities despite investments to adopt hybrid, distributed work environments with multiple connected devices.

A majority of executives rely on network modernization to enable business growth (>90 percent) and support artificial intelligence (AIOps) (91 percent).

Over 97 percent of CIOs and CTOs agree networks are vital for enabling outcomes related to business growth. 70 percent of CEOs say a lack of network maturity is negatively affecting their business delivery and 70 percent increased their IT spend (as a percent of revenue); nearly two-thirds increased network spending (as a percent of IT spend).

In addition, 94 percent agree that cloud-based workloads demand greater availability, scale, and performance from the network. Almost 50 percent fully align their business strategy with their technology, security, network, and/or managed services strategies. 70 percent cite a lack of IT-business function collaboration as key to this disconnect.

Almost 95 percent of C-suite executives confirm they will invest in modernizing their networks, with 60 percent already using the latest technologies. 94 percent say business demands for increased speed, agility, and innovation are driving new operating models

Further, the study revealed that most organizations are not fully satisfied with their current network capability and prefer to outsource. 88 percent say they would prefer to outsource the end-to-end network to a single partner, with a preference for the network-as-a-service model, citing flexibility as their top motivation.