--- description: What are the tech trends for businesses in 2023? We surveyed 250+ decision-makers in Australian companies to predict emerging technology trends. image: https://gdm-localsites-assets-gfprod.imgix.net/images/capterra/og_logo-e5a8c001ed0bd1bb922639230fcea71a.png?auto=format%2Cenhance%2Ccompress title: Software adoption and Australian tech trends in 2023 --- # Tech trends 2023: What are the top investment priorities for Australian firms? Canonical: https://www.capterra.com.au/blog/3375/latest-tech-trends-in-australia-2023 Published on 18/01/2023 | Written by Laura Burgess. ![Tech trends 2023: What are the top investment priorities for Australian firms?](https://images.ctfassets.net/63bmaubptoky/34ESe5B2D1cCs1WzylNbZV/e3ef9b3a8da305073570237201c11e03/tech-trends-2023-AU-CAP-Tech_trends-Header.png) > Capterra surveyed over 250 local companies about their business goals for the coming year to gain insight into the possible tech trends of 2023. How much do Australian companies plan to spend on technology this year compared with firms in other countries, and which tools will they prioritise?  ----- ## Article Content Capterra surveyed over 250 local companies about their business goals for the coming year to gain insight into the possible tech trends of 2023. How much do Australian companies plan to spend on technology this year compared with firms in other countries, and which tools will they prioritise? In this articleHow much do businesses plan to spend on technologies in 2023?Which technologies are top priorities for investment?What are the top business goals for companies in 2023?What are the biggest challenges for Aussie companies in 2023?What should companies consider when adopting new technologies?Global events, such as the pandemic, have increased digital adoption by companies. Now possibly facing a recession, business leaders must again address their digital transformation strategies to adapt to economic instability. Implementing digital solutions is an essential part of a contingency plan during times of uncertainty for businesses. With potential threats looming — such as inflation, central bank tightening, and labour shortages—  which tools are companies planning to invest in during 2023?Which software categories are the most popular, and how do they align with the goals set by businesses for the coming year? We wanted to examine how this year’s business challenges will affect companies in choosing software to help meet their goals. Capterra conducted an international survey in Australia, Canada, France, the UK, and the US of 1,526 managers and business owners with companies with under 1,000 employees. How much do businesses plan to spend on technologies in 2023? Australia remained mostly unscathed by the global crash of 2008 and hasn’t faced a sharp economic downturn since the early 1990s. But in the last few years, there have been difficult economic shocks due to the pandemic, supply chain disruptions, and the most recent rising interest rates. As economic uncertainty remains, companies should prepare a budget and response plan during such unprecedented times. Investing in digital technologies, —such as retail management systems that can increase sales, decrease costs, and maximise competitive advantage, or HR tools to retain, upskill, and recruit staff— can help weather these crises. Capterra asked company decision-makers how much their organisation plans to spend on technology and software in 2023. Most survey respondents in Australia (53%) said they expect to spend between 10 and 20% more than last year, whilst 14% of respondents said their budgets would increase by 21%. It should be noted that a significant proportion of Aussie managers surveyed said investment levels will either decrease (6%) in 2023 or stay the same (26%) as they were in 2022, perhaps in anticipation of economic uncertainty.Compared to international companies' investment plans, Australian businesses sit amongst the average number of organisations (53%) that plan to increase their budget from 10 to 20% in 2023. This puts Australia ahead of the UK and not far behind the US and Canada. Did you know? Investment firm Deutsche Bank has predicted that Australia will enter its definition of a recession in 2023. The firm’s ‘technical’ definition is based on unemployment rates, which are expected to rise to 4.5% by the end of the year. Even though jobless rates are predicted to rise due to the slowdown of the economy, financial experts believe it is unlikely the country will enter a ‘proper’ recession (defined as two consecutive quarters of negative economic growth).Which technologies are top priorities for investment?In addition to spending intentions, Capterra wanted to know what specific software purchases Australian companies plan to make this year. The technologies rated as top investment priorities, according to Aussie decision-makers, came under the categories of IT management (40%), sales related / CRM software (40%), and cybersecurity (37%). These categories also reflect the sectors that faced some of the biggest ongoing challenges in 2022.In 2022, many big-named Australian companies faced increasingly sophisticated cyberattacks, which saw consumer data privacy breaches on a large scale. Businesses are increasingly aware of how important it is to protect their IT systems against malicious attacks. As companies continue to digitise and adopt solutions such as cloud computing, it is necessary to utilise IT management systems that monitor and control the use of these digital technologies. Global supply chain issues have come in waves over the last few years but are costing Australian companies $11 billion annually. The pandemic seems to be over in the western world, but COVID-19 still haunts China. Coupled with geo-political tensions with China, supply chain disruptions continue to impact Australian businesses and consumers as we enter 2023. Facing this, it appears that companies are investing in software tools to alleviate supply chain risks, such as late shipment and logistical errors, and to aid in forecasting and decision-making. What are the top business goals for companies in 2023?To further investigate these investment priorities, Capterra asked companies what their business goals are for 2023. The top goal identified was to ‘grow customer base and/or market share’, and as we saw earlier, sales management and CRM tools were rated top priorities for business investment. These tools can play a key role in the customer journey as they can help to manage new leads and improve existing customer relationships. The next big business goal, ‘grow revenue’, which can be aided through retail management software, was followed by ‘increase employee productivity’. Again, HR and LMS software were rated as top investment priorities for Aussie companies in 2023. Using these tools, employees can upskill and access educational content. Seeing progress in their career development can help workers plan their career paths within the company.Overall, Australian decision-makers are aligning their software choices with the company’s business objectives for the coming years. ‘Reducing costs’ (36%) and ‘expanding into new locations’ (31%) were also common business goals. Whilst the former is expected due to global economic insecurity, the latter is surprising. The main concern of physically growing a business is the expansion costs, but if done wisely with digital adoption, it can increase revenues and profits. eCommerce solutions can help businesses to scale internationally, while CRM systems can help analyse customers' needs in different markets. Businesses can identify where to adapt their local strategy to cater to various customer profiles on a larger scale. What are the biggest challenges for Aussie companies in 2023?As mentioned earlier, 2022 was a big year for cyberattacks and regulation in Australia alone. The Australian Cyber Security Centre (ACSC) received over 76,000 cybercrime reports during the 2021-22 financial year, equating to one report every seven minutes or over 200 reported cyber incidents daily. It is unsurprising that ‘managing and preventing cybersecurity threats’ was most frequently cited as one of the biggest challenges by a third of Australian businesses (32%) as they head into 2023. Businesses adopting new technologies may face challenges, such as improper implementation or inadequate staff training for the new tools. The most commonly identified issue when investing in new technologies is the ‘compatibility with existing systems’, cited by nearly half of all Aussie decision-makers surveyed (46%). The following were also challenges:Identifying the right technology (41%)Disruption to current business practices (35%)Justifying and funding the investment (35%)Did you know? It can be difficult to find the right software for a company. When choosing software, it is important to shop around, compare the tool’s features to others, and try them out with free trials. Capterra’s site can point business owners in the right direction, especially with access to reviews that list the tool’s pros and cons and ratings by real users. What should companies consider when adopting new technologies? Half of the Australian decision-makers surveyed by Capterra said their company's approach to adopting new and emerging technologies is ‘bold’ (37% said it was ‘somewhat bold’, and 13% said ‘very bold’). As we start the new year, it is important for companies to stay on top of the latest global events and tech trends in 2023 to remain relevant and competitive. Compared to the other countries surveyed, Australia had the second lowest percentage of respondents who said they are ‘very bold’ in testing and deploying emerging technologies (13%) after the UK (12%) and in comparison to the overall average of 18%. This might be because only 46% of Aussie decision-makers think their company has enough resources to monitor emerging technologies, compared to an international average of 55%. Above all, implementation is an opportunity to use technology to its full potential for business forecasting and growth, especially during difficult times. The following factors should be considered in a technology implementation plan: Relevance of tool: When choosing software, it is crucial to determine whether the tool aligns with the business needs. Identify the tool’s specific features and whether they complement the company’s goals.Integration: Can the tools be easily integrated with existing software? Perhaps existing integrations aren’t available or are complex to implement. System and data integration software allows data to be shared between applications and provides a single point of access for users. Cybersecurity: The company may be exposed to new security threats and attacks, meaning a secure environment must be prioritised when installing new software.Staff resistance: Not all employees may embrace new technologies. This can be overcome by including them in the selection process and discussing the benefits. Employee training: Workers require adequate training, even if the system seems user-friendly. Feedback is valuable for determining whether more training is needed. Workflow monitoring: After launching new technology, it is important to ensure changes are implemented well and are functioning properly, as this can help with future upgrading decisions. In the next article in this two-part series, Capterra looks at how managers and business owners choose and buy new software for their companies, including the most important factors they consider when selecting a vendor.Looking for popular software categories? Check out our directory\! ## Disclaimer > Survey methodology:Capterra conducted this survey online in October 2022 among 1,526 small-business leaders from the US (498), Canada (261), the UK (253), France (262), and Australia (252). The study aims to understand small businesses' technology investments and the drivers and challenges influencing their decisions. Respondents were screened by:Number of employees: 2 to 999 employees Annual revenue: Less than US$1BIndustry: Manufacturing, Natural Resources, Communications, Media \& Services, Education, Retail, Banking \& Securities, Healthcare Providers, Construction, and HospitalityRespondents were required to be involved in purchasing technologies for the organisation and hold a manager-level position or above in the company. ## About the author ### Laura Burgess Laura is a Content Analyst at Capterra, researching and giving insight on tech trends to help SMEs. Graduate of Bath Spa University, UK. ## Related Categories - [Accounting Software](https://www.capterra.com.au/directory/1/accounting/software) - [CRM Software](https://www.capterra.com.au/directory/2/customer-relationship-management/software) - [ERP Systems](https://www.capterra.com.au/directory/9/enterprise-resource-planning/software) - [HR Software](https://www.capterra.com.au/directory/5/human-resource/software) - [Project Management Software](https://www.capterra.com.au/directory/30002/project-management/software) ## Related Articles - [Software buying trends in Australia 2026: Planning and user reviews boost ROI and lessen disruption](https://www.capterra.com.au/blog/7674/software-buying-trends-2026-australia) - [10-Step employee onboarding checklist for SMEs](https://www.capterra.com.au/blog/1000/ultimate-onboarding-checklist-smes-australia) - [Capterra Australia’s consumer trends eBook](https://www.capterra.com.au/blog/4331/australia-consumer-trends-ebook) - [The future of digital currency in Australia: CBDC vs cryptocurrency](https://www.capterra.com.au/blog/2308/the-future-of-digital-currency-australia) - [CRM Integration: 3 Problems It Solves For Sales Teams](https://www.capterra.com.au/blog/897/crm-integration-sales-teams) ## Links - [View on Capterra](https://www.capterra.com.au/blog/3375/latest-tech-trends-in-australia-2023) - [Blog](https://www.capterra.com.au/blog) - [Home](https://www.capterra.com.au/) ----- ## Structured Data