Tech spending is up. Here’s what your company’s competitors are buying for their IT departments now.
Nearly one-third of IT departments plan to increase investments in IT in order to increase growth and efficiency, according to a recent report from PricewaterhouseCoopers.
Overall, IT budgets are expected to increase as companies turn to technology to help drive growth. The average IT budget projects to become 6.6% of the company’s total budget, compared to 5.6% last year.
Specifically, here’s what IT departments plan to spend money on over the next 12 months:
- 70% will spend to beef up security
- 64% will invest in IT maintenance
- 50% will improve data management and analytics
- 48% will invest in tablets and other mobile technologies
- 46% will spend more on social media
- 40% plan to increase their use of cloud computing
- 38% plan to invest in virtualization
- 36% will spend on video conferencing
- 36% will focus on IT innovation, and
- 12% will spend on offshore IT support.