Companies regret the majority of their technology purchases after the fact

Technology is essential to business. But there are more and more options and information in this regard – and so buyers sometimes regret their technology decisions. In a recent survey by research and consulting firm Gartner, 56 percent of companies said they deeply regret their largest technology purchase in the past two years.

“Regret about technology purchases that haven’t yet been done at their peak. This indicates a great deal of frustration with the buying process,” said Hank Barnes, senior vice president analyst at Gartner. “In the past, it was relatively easy for product managers to predict who They are the buyers. But this is no longer the case. Buying dynamics are changing, and shopping can also become a real challenge for customers.”

Barnes presented the major shifts in the purchasing behavior of technology companies in the opening speech yesterday of the virtual Gartner Tech Growth & Innovation conference.

About the survey: In November and December 2021, Gartner surveyed 1,120 individuals in North America, Western Europe, and Asia Pacific. The aim of the survey was to find out how companies are handling large purchases of enterprise technology. Respondents had to hold at least one management position, be familiar with any major technology procurement activity in the past two years, and be directly involved in evaluating or selecting products or services for technology projects.

www.gartner.com