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As expected, spending for IT will increase in 2017. Learn what companies are spending this money on this year.
IT is one of the fastest growing industries and companies are spending more and more money on it to invest in quality technology solutions. Every year, IT and organizational spending changes just like other spending categories. 2017 is expected to be another big year for expenditures in this area and companies are expected to invest a lot in technology and IT systems, according to Gartner.
What Kind of Growth is Expected?
The growth is predicted to be 2.9 percent for IT expenditures throughout the year, according to the prediction that Gartner has made. ComputerWorld has also reported that globally approximately $3.49 trillion will be spent on IT and technological advancements. Gartner has gone one step further and predicted that companies will spend $600 billion, which is an increase of 0.4 percent from 2016. As far as global software is concerned, it will increase by approximately 7.2 percent for about $357 billion this year. IT service spending will also increase by 4.8 percent to a whopping $943 billion in 2017.
What is Driving This Growth?
Many businesses are trying to expand their knowledge as well as become authorities or leaders in their respective industry. To do that, many companies are looking to increase IT spending as well as spend more time taking care of their current IT investments. They are using it as a way to grow their business so they can provide better service to consumers. At the same time, companies are looking to spend more money by saving money in other areas. That is especially important when you look at the growing numbers because it shows that even though companies are seeking to spend less in some ways, they are looking to spend more in others. They are getting rid of costs that are unnecessary while using their capital to reinvest and create innovative solutions. All of this can improve their operations and make their business easier for both the companies and their customers.
What are They Investing in?
While it is important to know that companies are investing in devices and other things for their business, in the IT category, many more companies are investing in enterprise-level solutions. This allows them to cut costs and grow or spend in other areas. Enterprise-level solutions provide them with scalability as their business grows as well as flexibility. Even though they will be spending more on IT, it will actually help them save money by decreasing their capital expenses, freeing up time to be dedicated to other things, and leaving resources for other components of the business. When companies choose the right technology investments, they benefit in other ways. Even if a company has their own IT department internally, it can still be valuable for them to outsource certain components of IT to third-party providers.
As a small business, you may not have a lot of money you can spend on these IT components, but there are still things you can consider. One of these options is a managed service provider that can offer you what you need for an affordable monthly payment. If you are interested in learning more about these options for your business in Toronto, be sure to contact Sysoft via (416) 410-7268 or email@example.com.