Does Your Business Strategy Line Up with Your IT Budget?

You’ve seen it before. Budget time comes around, and suddenly everyone is cap-in-hand pitching the latest technology convinced it will make business run more smoothly.

Just like at home, this insatiable thirst influences not only budgets, but also business objectives at every turn.

In a recent article in ComputerWorld Magazine, one Chief Information Officer of a company with $75-million in annual sales recently approached the executive team with a 20% increase in IT spending, including a request for 100 tablets. Now that could be the right business decision, or it could be the wrong one. In either case a 20% increase is more than most businesses should expect.

According to CIO Magazine’s annual survey, the average spend on IT in 2014 was 5.2 per cent of revenue. That may sound like a good measure, but percentages can be misleading.

Finding the right balance – particularly now that technology has infiltrated every part of business – is critical to your overall operation. What really matters is whether you spend smart.

Get Your IT Budget Outlook

Rand Group has identified four critical areas that influence your IT spend. Send in the response, and we’ll provide you with an IT Budget Analysis overview by one of our most senior professionals. .

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