Today’s businesses are faced with numerous tough decisions when it comes to where to spend their budget, specifically in the IT realm. IT (information technology) is more important than ever before, in large part because of all the advancements in technology over the last several years. It can be quite challenging for businesses to develop and benchmark IT spend, so it is important to gain insight on IT spending trends whenever possible. Through in-depth research and a survey that included businesses from a wide range of sectors, we developed a report showing current trends in IT spending. In this report, we provide IT budget and spending habits by industry for the first quarter of 2016 in comparison to the same quarter last year.
Organizations have a lot of big decisions to make when it comes to budgeting and the yearly cost management cycle overall. There are numerous different areas to sink your funds, from application and software development to security and mobile applications. It is important for each individual organization to take a long, hard look at their budget and what they hope to achieve in the coming year before investing. The trends uncovered by RainKing show the what, why, and where of IT spending, providing helpful insight that will in turn allow organizations to better align their spending processes with their overarching business goals.
Where are people spending the most?
Our research team surveyed organizations in the following industries to see where the majority of their IT spending was going:
- Consumer Goods
- Energy and Utilities
Interestingly enough, we discovered that every single sector with the exception of healthcare shifted their investment focus from 2015 to 2016. Some of the areas that saw the most attention across all sectors include security (specifically PHI, DLP, HIE, and database security), network and telecommunications infrastructure, enterprise and mobile applications (specifically in eCommerce instances), remote support and mobility, converged infrastructure, and cloud colocation trending.
It is no secret that security budgets and spending are on the rise, with a lot of the budget going to areas that support application security, data security, mobile efforts, and network analytics. The report revealed that the organizations across all industries were shifting their focus to internal infrastructure management and eCommerce solutions. IT spending trends, and security budgeting in general, are a large part of each organization’s yearly cost management cycle, which is why it is so important that we pay attention to the numbers and where people are focusing their efforts. For more information on IT spending trends, check out our infographic.
Feel free to contact us with any additional questions or for information on how we may be able to help you better understand where you should focus your sales and marketing efforts based on the investments your competition and prospects are making. With our help, you will have a better understanding of where you should allocate your time and resources so you have a greater opportunity to generate new business from these investments.