Budget season is upon us. As businesses prepare their annual budgets they must respond to new business conditions in a highly competitive world. Technology spending, and the IT budget will influence the budget planning process as companies implement new processes and technology to support company growth and revenue opportunities.
In 2017 and 2018 Tech Pro Research surveyed technology professionals to see how the 2019 budget differs from last year, where money will be spent, and how much tech professionals feel the IT budget is valued by executive leadership.
Survey respondents from both 2017 and 2018 answered the following questions:
Over half of the survey respondents said that their organization would dedicate more funding to IT. Security continues as a major corporate focus, according to 63% of survey respondents. Other areas of 2019 IT budget prioritization include cloud services, with 48% ranking it as a priority; and internal employee training, with 44% ranking it as a priority.
Excitement about how new technologies can transform the enterprise and improve results motivates IT and end users organizations outside IT to spend more on IT.
While this may seem like a win for IT vendors, businesses will expect more rapid return on investments or recoups on cost of ownership than in the past. Further, businesses will expect technology vendors to conduct successful proofs of concept before they buy.
To find out more about tech budgeting and spending for the upcoming year, download the full report.
Every month, Tech Pro Research releases an original research report on a different topic related to business technology. Here are some past reports:
To learn more about building your IT budget, check out this ZDNet/TechRepublic special feature.