Research: How COVID-19 will affect 2021 IT budgets – ZDNet

As IT budgetary planning for 2021 begins, many organizations are seeing the impact of COVID-19 on their IT priorities and tech spends.

How exactly COVID-19 influences IT budgets and where businesses plan to spend their tech dollars was the topic of a recent TechRepublic Premium survey.

Questions ranged from how the COVID-19 crisis affects fiscal 2021 budget planning and IT priorities to who makes initial recommendations for items in the IT budget. Other questions delved into what percentage of the overall corporate budget is allocated to IT, top budget priorities, how vendors can better assist clients, and more.  

SEE: 2021 IT budget research report: COVID-19’s impact on projects and priorities  (TechRepublic Premium)

The uncertainty of COVID-19 factored into many respondents’ IT budgetary plans. Last year, 9% of survey respondents were unsure of their IT budgets, and that number grew to 20% of this year’s respondents. Further, almost two-thirds of survey respondents (62%) said that they will tighten their 2021 IT budgets as a result of the coronavirus.

IT budget priorities

Similar to last year, security (17%) and cloud services (16%) remain top IT budget priorities, but remote technology that enables employees to work from home will definitely gain traction in 2021, as 13% of respondents ranked it a top priority,

In terms of how COVID-19 will affect IT priorities, 26% of respondents reported that they will spend more on remote technologies that enable employees to work from home, 22% will spend more on security, 19% said most of their IT staff will work from home permanently, and 17% will postpone major projects. Only 6% of respondents said that COVID-19 has not affected any of their company’s IT priorities.

IT budget decision makers

IT managers are making fewer budget decisions than in the past. Last year, 54% of respondents ranked IT managers as the top IT budget decision maker. However, IT managers are making IT budget decisions for only 23% of this year’s survey respondents, and instead, decision-making responsibilities are shifting to either the CEO/CIO or other C-level business managers, according to 46% of respondents. 

In 2020, the majority of survey respondents (76%) reported that their IT budgets comprised 10% or less of their organizations’ total budgetary spending. In 2021, that number dipped slightly to 71% of respondents reporting that 10% or less of the overall corporate budget will be allocated to IT.

The infographic below contains selected details from the research. To read more findings, plus analysis, download the 2021 IT budget research report: COVID-19’s impact on projects and priorities (TechRepublic Premium).

Also see

Related Posts

Comments

  1. 914812 593762Pretty section of content. I just stumbled upon your weblog and in accession capital to assert that I get really enjoyed account your blog posts. Any way I will likely be subscribing to your augment and even I achievement you access consistently swiftly. 688444

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

21,935FansLike
2,507FollowersFollow
0SubscribersSubscribe

Recent Stories

Back to school expenses putting more pressure on post-holiday budgets

Australian parents are set to spend 9 per cent more on back to school supplies this year than they did last year, with three...

Funding higher ed: Lawmakers weigh budgets for universities – Idaho Press-Tribune

Funding higher ed: Lawmakers weigh budgets for universities  Idaho Pre

Trends vs Summary & Budgets

Hi!Hopefully someone with a bit more knowledge of the app can help me here.I’m...

Top 10 best hotels in Dublin city centre for all budgets (luxury, budget, family-stays, and more)

Heading to Dublin but not sure where to stay? We’ve checked out the ten best hotels in Dublin city centre for you — from...

Banff passes operating, capital budgets after 12 days of debate – Rocky Mountain Outlook

“The vision for your town is truly found in your budget because you’re putting your money where your mouth is,” said Mayor Corrie DiManno...