IT Budgets Expected to Increase, Staff Growth Flat
In 2015, IT budgets are forecast to increase by the largest amount since the financial crisis of 2008, according to a new study by the Corporate Executive Board Company (CEB), a member-based advisory company. Capital expenditures, however, will remain flat, Titled "2015 IT Budget and Benchmark Survey," the report draws on the experiences of 166 IT executives from organizations representing $75 billion in IT spending. Participants were from the following regions: the Americas (74 percent), Europe/Middle East/Africa (22 percent) and Asia-Pacific (5 percent). These organizations represent various industries, including manufacturing, retail, insurance, leisure/entertainment, logistics, construction, banking, food/beverage, high-tech and government. "It's encouraging to see a bright outlook for IT budgets in 2015," says Andrew Horne, managing director at CEB. "CIOs will focus on making IT quicker to adapt to rapidly changing digitization opportunities, and prioritizing investment in improving the digital customer experience." The research is part of CEB CIO Leadership Council membership.