In the blog we published a few weeks back, we briefly went over some of the IT areas that businesses invested in the most, something we will expand upon today. It is important to look at these findings in order to gain more insight into where you should be investing, and what changes may need to be made to your current budgeting plan.
Most invested areas
We are going to a take a more in-depth look at the areas that organizations across a range of industries (healthcare, technology, energy and utilities, services, industrials, consumer goods, and finance) spent most of their IT budget on. Here is a list of these areas in no particular order:
- Remote support and mobility
- Network and telecommunications infrastructure
- Enterprise and mobile applications
- Converged infrastructure, data center builds, and cloud colocation
- Application and software development
- Network, mobile, and threat management
- Application and security initiatives
As you can see, there is a broad range of areas of strategic focus and investment that organizations chose to pinpoint. Let’s now look at each individual area in more detail:
- Remote support and mobility—Industries (such as the energy and utilities sector) that chose to increase their mobility in the workplace and on-the-job by introducing smartphones and tablets are committed to increasing workflow efficiency and overall employee satisfaction
- Network and telecommunications infrastructure—The industrials sector used most of their IT spending budget on network and telecommunications infrastructure, which is beneficial because it increases and expands resources to people throughout the organization
- Enterprise and mobile applications—Those in the services industries used most of their IT spending budget on mobile applications, which is important because research indicates that the majority of consumers today prefer to access information via their mobile devices
- Converged infrastructure, data center builds, and cloud colocation—The technology sector spends their IT budget on data center builds and cloud colocation. The future of IT appears to be going in the direction of the cloud, so this is in-line with current trends
- Application and software development—Software development is the overall process of computer programming, documenting, and testing with the intention of creating an efficient software product. This is a main focus of organizations within the consumer goods sector
- Network, mobile, and threat management—It should come as no surprise that the financial sector uses the majority of their IT spending budget on network, mobile, and threat management. Considering the potential threats and number of hacks that have taken place in recent years, this is a smart move
- Application and security initiatives—The healthcare sector is focusing their IT budget on application and security initiatives, which is important as the industry has fallen victim to numerous data breaches and needs to tighten the ropes a bit
So, how can you figure out what your organization needs to focus on in 2017 in regards to your IT budget? From interviews conducted by DiscoverOrg, we expect a handful of new trends to present themselves in 2017. Many organizations will be focusing on open architecture, automation, and “as-a-service” projects, specifically in the realm of technology, services, and financial industries. We expect the healthcare industry to be less likely to fully embrace these advancements, due in large part to the growing publicity of data breaches within the industry and increasing pressure to secure patient information. Furthermore, our interviews show that organizations plan on spending 10% of next year’s budget on remote support and mobility.
As you can see, there are numerous different options when it comes to how to spend your IT budget. To learn more about where your competitors are spending their budgets so you can allocate your resources in a manner that is effective for you, contact us today.
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