Global Tariffs Prompting CIOs to Reevaluate Expenditures and Project Timelines
CIO
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Contributed by: Kate Gamble
Summary
Global tariffs are forcing IT leaders across various sectors to reevaluate their capital expenditures and project timelines due to increased technology costs and supply chain disruptions. As a result, CIOs are scaling back or postponing projects to manage tighter budgets, with IT spending, especially on hardware and IT services, expected to decline in a weakening economy. CIOs are focusing on essential projects and cost analysis, with some, like Jay Leal of Vantage Bank, adjusting hardware procurement strategies to curb costs, while others are shifting to more cost-effective cloud solutions. In healthcare, CIOs like Jordan Ruch of AtlantiCare and Michael Mainiero from Catholic Health are stressing the need for agile systems to ensure operational efficiency amidst rising costs and supply chain challenges affecting patient care delivery.
