A survey of approximately 100 private equity and property managers globally has found that investing in technology remains a key objective of these businesses as they seek to invest in future growth as well as guard against risks in areas such as cybersecurity.
The survey, published by Augentius, which provides administration services to the PE and property sectors, found that only one in ten companies put technology investments low down their priority lists.
Cybersecurity, for example, was found to be a concern among 54% of managers surveyed, who said it was one of their top two investment priorities in 2018. The other leading priority is data management and the cloud.
Looking further into the future, many also highlighted artificial intelligence, AI, and machine learning as areas that could have a big impact on how private equity operates in coming years.
However, despite showing a will to invest in technology, many firms are also struggling with legacy systems and internal lack of IT leadership, the survey also found.
Ian Kelly, group CEO of Augentius, said: “It’s fair to say the old stereotype of the industry lagging behind when it comes to seeing the importance of technology is now firmly outdated. The results underline how attitudes have shifted.”
To read the full results click here: Augentius Tech Survey