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Technology: IT Budgets to Begin Thawing in 2011?
The last two years have been tough ones across a lot of industries, and while by some measures, IT has fared better than many other industries, things still haven’t been good. But things may beginning to look up. Analysts and surveys are expressing confidence in IT spending and growth in the new year.
“We are beginning to see these investments come back. Companies are moving ahead again and investing in IT, particularly in software.”
— Jim Hagemann Snabe, co-CEO of SAP AG; Nov 30, 2010
“Although state and local governments have felt a financial squeeze in the aftermath of the recession, the outlook for information technology investment in the public sector is improving. The CDW IT Monitor, which has been tracking IT sentiment since the beginning of the recession in 2007, reveals local government organizations anticipate greater IT investment in hardware and software heading into 2011.”
— Thomas E. Richards, president and chief operating officer, CDW; Nov 11, 2010
“The financial markets sector as a whole will be volatile in 2011, but this will not be detrimental to IT spending and will provide significant opportunities for vendors. Businesses will be looking for IT systems that ensure their front offices are performing as well as they can, while they will want to make their back offices more automated.”
— Daniel Mayo, Ovum analyst; Nov 22, 2010
— Daniel Mayo, Ovum analyst; Nov 22, 2010
“When you look at the underlying data beneath sales, earnings, margins and balance sheet strength, all are extremely positive. Why? Well two things. First contrary to popular belief, business spending for technology has been growing for a while. Second, despite challenging economic times, consumers are still spending, but they are being smarter about it.”
— Nicholas Roccanova, senior investment strategist at Oppenheimer, SDTimes; December 1, 2010
— Nicholas Roccanova, senior investment strategist at Oppenheimer, SDTimes; December 1, 2010
“As the life and annuities industry emerges from this difficult period, many companies are positioning for the next wave of growth. Over the past two years, insurers have taken a conservative approach to the business, working to strengthen their capital position, contain exposure to certain risks and minimize their expense base. SMA analysis indicates that while insurers are optimistic about growth opportunities, most think it prudent to expand IT investments with a measured pace, at least in the short term.”
— Mark Breading, SMA (Strategy Meets Action) Partner.; Nov 11, 2010
— Mark Breading, SMA (Strategy Meets Action) Partner.; Nov 11, 2010
“There is a quiet but persistent buzz that IT budgets will grow in 2011. CIOs are hinting at this during analyst meetings, and a recent poll at Interop, the leading business trade show for IT executives, showed that more than half of IT professionals are projecting an increase in their budgets going forward.”
— Jack Cullen, TechNews World; Nov 27, 2010
