As the New Year inches closer and we happily wave goodbye to 2009 one item that is weighing heavy on the shoulders of executives
is budgets — where will we allocate dollars? More specifically what will IT budgets look like? Questions range from what new investments will be made to whether security will be increased. However, glimpses of hope for a number of businesses have made headlines in the news recently. According to a recent survey by CIO Magazine, 43 percent of small companies with revenues less than $100 million anticipate spending increases in 2010 and 35 percent of mid-market companies with revenues between $100 million and $1 billion anticipate an
increase. The survey also shows that IT capital spending is on the rise for 41 percent of the IT executives surveyed.
Results from another survey, conducted by Micro Focus (LSE.MCRO.L), a provider of enterprise application management, testing and modernization solutions, indicates a willingness from financial professionals to invest in existing IT systems, showing that investments are still willing to be made while organizations determine their financial stability. The survey also shows that financial professionals view gains in efficiency and cost savings as the two most important measures of ROI for IT projects – areas that can be addressed by application modernization. According to the survey, 45 percent of respondents view IT as a “critical driver of value” or a function that “actively contributes value.”
In the PR industry we see companies every day struggle with the direction, priorities and budget limitations. However at the same time, we see new hires taking place. We see technology investments being made to better the company’s growth and security. We believe companies are on the road to recovery. But we also believe that it starts with thought-leaders identifying the problems at hand and brainstorming the most effective and efficient solutions and strategies to ensure a company’s future growth.
After a stressful 2009, companies need to determine what they are capable of in 2010 and should not lose sight of what keeps their business in working function. Much of this lies within the IT department. Don’t place security on the backburner. Don’t lose valuable team members who provide priceless knowledge base. Most important don’t let the fear of allocating dollars today limit your opportunity to get out in front of the competition so that when the recessionary dust does settle, you find yourself ahead of the pack vs running alongside it.
