How COVID-19 will impact future IT budgets and priorities

43% of survey respondents will tighten their 2022 IT budgets resulting from COVID-19, experiences a current TechRepublic Premium ballot.

Planning for 2022 IT budgets has begun, and lots of companies are recognizing the consequences of COVID-19 on their IT priorities and tech spends.

How COVID-19 will affect IT budgets and the way companies plan to allocate their tech {dollars} was the subject of a current TechRepublic Premium survey. TechRepublic Premium surveyed 122 SMB decision-makers about their 2022 IT budgets and in contrast the outcomes to the same survey performed final yr about their 2021 IT budgets. 

Questions ranged from how the coronavirus disaster will alter fiscal 2022 funds plans and IT priorities to who makes preliminary suggestions for objects within the IT funds. Different questions delved into what share of the general company funds is allotted to IT, high funds priorities, how distributors can higher help purchasers and far more.  

SEE:  2022 IT Price range Analysis Report: COVID-19 prompts organizations to tighten budgets  (TechRepublic Premium)

COVID-19 shifts IT funds plans

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The uncertainty of COVID-19 factored into many respondents’ IT budgetary plans. Of survey respondents, 43% mentioned they may tighten their budgets due to the coronavirus. Whereas this quantity represents nearly half of the survey respondents, it’s decrease than final yr, when 62% of respondents forecasted tightening IT budgets. 

Additionally noteworthy, 21% of respondents mentioned that COVID-19 had no impact on their 2021 IT budgets. This quantity rose barely to 23% for 2022.

Additional, 20% of respondents anticipate that their group’s fiscal/calendar yr 2022 funds will probably be lower than $50,000, which is up from 16% final yr. Eighteen p.c predict having budgets of $1 million to $9.9 million, 13% foresee budgets between $10 million and $49.9 million, and 4% consider their funds will exceed $250 million.

Regardless of companies shifting {dollars} and working towards extra managed spending, IT budgets will see will increase in community and web safety spends, in line with 27% of respondents, and distant IT know-how, in line with 22% of respondents. Apparently, these two spending priorities flip-flopped from final yr. In 2021, 26% of survey respondents deliberate to spend extra on distant IT know-how, and 22% reported spending extra on networks and web safety due to COVID-19. 

SEE:  2022 IT Price range Analysis Report: COVID-19 prompts organizations to tighten budgets  (TechRepublic Premium)

IT funds priorities

Extra particularly, the highest 5 IT funds priorities for fiscal calendar yr 2022 are bettering community and web safety, cloud providers, digital transformation and worker coaching, in line with respondents. For probably the most half, these mirror final yr’s survey outcomes. Implementing distant applied sciences for workers was the one noticeable distinction yr to yr. Solely 8% of survey respondents mentioned that this will probably be an IT precedence for 2022. In 2021, implementing distant know-how was a precedence for 13% of respondents. 

In 2021, the vast majority of survey respondents (71%) reported that their IT budgets comprised 10% or much less of their organizations’ complete budgetary spending. For 2022, that quantity dipped to 46% of respondents reporting that 10% or much less of the general company funds will probably be allotted to IT.

The infographic under incorporates chosen particulars from the analysis. To learn extra findings, plus evaluation, obtain the 2022 IT funds analysis report: COVID-19 prompts organizations to tighten budgets (TechRepublic Premium).

itbudgets-infographic-08312021.jpg

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