The global COVID-19 pandemic crisis has proved to be a catalyst for change for organizations. Businesses have been spurred to continue investing more in IT budget to secure and support their remote workforce operations in spite of slow revenue growth due to the pandemic.
According to a survey of more than 1,000 businesses by Spiceworks Ziff Davis, 76 percent of them plan on implementing long-term IT changes in their IT budget and 44 percent plan on accelerating their digital transformation plans. It also indicates that more than one-third of IT budget increases in 2021 will be influenced by COVID-19.
Businesses are also expected to increase their IT spending on their IT assets such as cloud and managed services, while hardware spending in 2021 is anticipated to decline. Moreover, many have dropped their plans to adopt cutting edge technologies in favor of investing in more pressing needs.