As IT budgeting plans begin for 2021, many organizations are seeing the effect of COVID-19 on their IT priorities and generation spending.
How COVID-19 influences IT budgets and where corporations plan to spend their generation’s cash is the subject of a recent TechRepublic Premium survey.
The questions ranged from how the COVID-19 crisis affects IT budgeting plans and priorities in fiscal 2021 to who makes the initial recommendations for budget elements; Other questions focused on the percentage of the company’s overall IT budget, key budget priorities, how vendors can increase customers, etc.
SEE: IT Budget Research Report 2021: The Impact of COVID-19 on Projects and Priorities (TechRepublic Premium)
The uncertainty of COVID-19 was reflected in the IT budget plans of many respondents. Last year, 9% of respondents were unsure of their IT budget, and this number was more than 20% of this year’s respondents. In addition, nearly two-thirds of respondents (62%) they said they would adjust their IT budgets by 2021 due to coronavirus.
Like last year, security (17%) cloud (16%) they remain the most sensitive priorities of the IT budget, however, the remote generation that allows painters to paint from the house will in fact gain floor in 2021, with 13% of respondents calling it a more sensible priority. ,
With respect to COVID-19 IT priorities, 26% of respondents said they would spend more on remote technologies that allow painters to paint from home, 22% would spend more on security, 19% said the maximum of their IT staff paints from home. 17% would postpone primary projects. Only 6% of respondents said COVID-19 did not meet any of their company’s IT priorities.
IT managers take fewer budget resolutions than in the past. Last year, 54% of respondents rated IT managers as responsible for the most sensible IT budgeting. However, IT managers make IT budget resolutions for only 23% of this year’s respondents, while daily decision-making jobs are transferred to the CEO/CIO or other C-level business leaders, according to 46% of respondents.
By 2020, the majority of respondents (76%) indicated that your IT budgets accounted for 10% or less of your organization’s overall budget spending. In 2021, this number was reduced to 71% of respondents who indicated that 10% or less of the company’s expenses The total budget will be allocated to IT.
The infographic below comprises the main decided points of the studies. For more results, as well as analysis, download the IT Budget 2021 Study Report: The Effect of COVID-19 on Projects and Priorities (TechRepublic Premium).
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