IT budgets: Drivers, concerns, and trends in 2016 (TechRepublic Premium)

This archived TechRepublic Premium report, originally published in October 2015, is available for free to registered TechRepublic members. For all the latest research reports, 100+ ready-made policies, IT job descriptions, and more, check out TechRepublic Premium.

From the report:

IT budgets vary in size by industry and geographical area—and even by whom the ultimate decision makers in
the organization are when it comes to budget. While each company’s technology investment situation is unique,
the key drivers in companies behind how technology is perceived and how much is invested are how much these
technology investments can directly contribute to revenue gains and operational savings. Accordingly, technology
as a competitive differentiator plays a larger role in some industries than it does in others.

When planning and budgeting for technology, those determining the initial IT budgets must also go head to head
at the budget table against other business areas as they compete for a limited number of dollars. Understandably,
IT budget proposals must be well researched and they must demonstrate that the technology investments they
are advocating will be rapidly repaid in some kind of tangible business benefit that the company will be able to
recognize. Many times these IT paybacks and results are expected in a matter of months after the technology is implemented.

Most importantly, these IT investments must deliver projects and value that either drive business revenues, cut
costs or contribute to a planned build-out of an IT infrastructure that will sustain the company as it expands for the
long term.

In August 2015, TechRepublic Premium conducted an online survey on the key drivers and persons of IT budgetary
decision making and funding in 2016 by examining the projects and business initiatives that companies are most
likely to plan, and how they anticipate funding these projects. The report is drawn from 201 survey respondents
who represent a cross-section of industries, global regions, and company sizes that range from very small firms to
very large enterprises. A majority of respondents come from IT management.

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March 19, 2022
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