This year, UK firms are set to experience a 1.4% increase in IT budgets, a new report from Gartner has revealed. This increase is higher than the global average of 1.1%, as well as the average among US firms, which stands at 0.9%.
By comparison, Chinese firms are set for an average IT budget increase of 8.5%, which is significantly higher than both the UK and US.
A key finding from study is that there is an increasing amount of investment in IT across UK companies, with results revealing that over 21% of IT investments take place outside of the actual IT budget. Gartner polled over 2,800 respondents from 84 countries in order to compile its report.
After a long period of budget restrictions and cost-cutting, Gartner believes that a renewed focus on strategic IT investments will help to facilitate growth among UK businesses. In particular, companies in the UK and Ireland are becoming more open-minded with regard to SMART technologies; they are starting to make investment in new tools and are creating strategies which cover areas such as robotics and the Internet of Things.
Gartner predicts that UK CIOs will now dedicate less than 40% of their time to running IT departments this year. They will instead focus on spending more time with other C-suite executives, business unit leaders and external customers to “extol the values of IT and investing in the right technology,” CRN reports.
Vice President at Gartner, Dave Aron, commented that digitalisation represents both an opportunity and threat, which means that “CIOs are facing new, more challenging and more exciting circumstances as digital moves to centre stage.”
An increase in IT budgets is great news for UK businesses, as it will allow them to utilise new technologies and implement them throughout the company. Yet, despite increased budgets, IT finance can still help you to spread the cost of the full solution, including training, installation, upgrades, maintenance and support contracts. Syscap can provide you with a tailored finance solution that will enable you to get the IT technology you need today. Call one of our team members to find out more or click here.