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Technology: Companies Have Narrow Focus for IT Budgets in 2010
Poor economic conditions have led small and medium-sized businesses (SMBs) to be conservative with their 2010 IT spending budgets. That’s the conclusion of Forrester Research after surveying 2200 IT executives and managers in North America and Europe.
Companies are picking their investments for 2010 very carefully, and many are simply spending to maintain their current systems. “Despite all the hype around new technologies that hit the market in the past few years, firms are devoting most of their IT spending on already-installed technologies,” said Forrester Senior Analyst Holger Kisker. “As long as businesses are prioritizing cost cutting and efficiency improvements, tech vendors must provide clearer business justifications for their offerings and demonstrate the functional fit with business requirements that their solutions provide.”
There are some areas though that are seeing activity, especially projects that are considered important to company growth and for improving efficiency. Some projects have been planned but delayed during the downturn in 2009 are being resurfaced for consideration in 2010.
The Forrester survey finds that these areas are the primary ones targeted for investment in 2010:
- 20 percent plan to implement information and knowledge management (I&KM)
- 21 percent plan to upgrade existing finance and accounting software
- 48 percent of enterprises and 19 percent of SMBs plan to upgrade their CRM applications
- 52 percent of enterprises and 18 percent of SMBs plan to upgrade their industry-specific software
