36% of private companies upping IT spending will focus investment on IT innovation.
Nearly one-third of private companies are investing more in IT to spur growth and efficiency, according to PwC's Private Company Trendsetter Barometer. These companies plan to increase IT spending from 5.6% of their total budgets in 2010 to 6.6% over the next 12 months, a year-to-year increase of nearly 19%. "Technology plays a critical role in driving global growth and competitiveness for private companies, particularly in markets like China, India, and Brazil," says Ken Esch, a partner in PwC’s Private Company Services practice. "As private companies increasingly view these markets as places to sell rather than just as sites for low-cost sourcing and manufacturing, they'll need to have digital channels in place to deliver products and services." Innovation and maintenance are key investment areas, with the top area of concern data security. "Information security is increasingly critical for private companies," says Esch. "Risks can be managed and reduced with strategic investment in IT security."
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