U.S Companies Increase Spending on Business Technology

Corporate Spending Innovations

A recently published study by the International Data Corporation (IDC) reports that American companies are spending significantly more on business technology. The report, titled “United States Technology Buyer Forecast by Vertical: 2012 to 2017,” investigates tech spending in 12 buying segments.

The IDC report states that the relationship between technology and business is blossoming due to what are known as the “four pillars,” or cloud, social, mobile, and analytic technologies. A growing number of businesses are choosing to invest in these technologies, forcing rival organizations to do the same in order to stay competitive.

Businesses of any size cannot hope to gain a competitive edge if they are relying on outdated technology. According to the IDC report, business-funded technology is predicted to reach $275.2 billion this year, accounting for 55 percent of tech spending in the U.S. The market is expected to grow to $330.7 billion by 2017.

“Now after the big recession CEOs are waking up and saying ‘Hang on a minute, I’m seeing mobile, social and cloud-based changes to industries. There’s some very differentiating stuff going on with technology. It isn’t all packaged and I need to do something about that,” said Mark Raskino, Gartner fellow in executive leadership and innovation research.

Technology spending is a great strategy for companies to control labor costs and boost productivity. Your business may benefit from global technology and consulting services that deliver tailored, customer centric risk management and process automation solutions. Risk management solutions provide a greater ability to make decisions, using custom portfolio management software.

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