How do macroeconomic conditions shape the technology decision of businesses?
Hello all,
In times of economic uncertainty, businesses first review their expenses, with a particular focus on technology spending. This covers the costs associated with procuring and maintaining their IT infrastructure, including hardware, software, and the workforce responsible for their management and support.
In their review process, businesses evaluate how critical the role of technology is to their success, identify areas of overspending, optimize expenditures, increase investments in technologies with long-term benefits, and adjust their IT hiring practices to align with their current needs.
Curious to learn how the current macroeconomic conditions are shaping the technology decisions of businesses, we at ManageEngine ITOM surveyed over 470 IT admins, engineers, CIOs, and CTOs at businesses of different sizes and industries.
Our questionnaire delved into their budgetary visions and unveiled the strategies they are adopting to navigate the macroeconomic landscape effectively:
- Are organizations being optimistic about their IT budget, or are they practicing frugality?
- What are their investment priorities?
- What trade-offs are they embracing to cut down on IT costs?
Through this inquiry, we discovered fascinating insights into how businesses are responding to economic uncertainty and complied these insights into an intriguing infographic.
We invite you to explore our infographic IT budgeting amid a challenging macroeconomic climate to gain a comprehensive understanding of how businesses like yours are navigating the current macroeconomic phase.
Cheers,
The ManageEngine ITOM solutions team