The first quarter of this year was a story of an economy that was slowing but still progressing. The story suddenly turned negative in mid-April. At that time, we at Everest Group detected a significant step back in customer sentiment with regard to third-party services and business technology services spend.
A broad number of industries collectively seem to have come to the conclusion that we are, in fact, heading into recession and that it’s time to start changing plans and budgets to reflect a recession mentality. Consequently, CIOs and CTOs are taking a look at their responsibilities and dividing them into four specific agendas.