Companies will spend more on IT this year - IDC
Published: 06 May 2004 09:10 BST
US and Canadian companies expect to increase their spending on information technology by 3.8 percent this year, according to IDC.
The professional services, retail and wholesale, and banking sectors are expected to see the strongest growth, the research firm said in a report released on Wednesday. The survey questioned IT managers and mid-level executives.
Seven out of 10 respondents said that as their organisations see customer relationship management and enterprise management as ways to cut costs, they will continue to boost IT spending through 2004. And 30 percent of respondents said they'll focus mainly on developing strategic applications to improve their organisations' competitiveness.
The forecast tallies well with a projection of 4 percent to 5 percent growth in US technology budgets made by Forrester Research in March. And in March, an IDC survey on the global IT market predicted a 5 percent growth for the IT industry worldwide.
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