Are You Planning on Increasing Your IT Spending?

As we enter the third quarter of the year, now is as good a time as ever to reevaluate how you are spending your IT budget. According to Gartner, your IT spending might actually be increasing, assuming it’s in line with what your organization wants and needs. Are you being intentional with your IT spending? Where are you investing it? Are you spending it on avenues for continued growth? Gartner’s study might yield some interesting ideas which you can call upon to inform your own spending practices.

IT Expenses Are Projected to Increase Across the Board

Gartner has predicted that IT spending will increase globally by about 3 percent this year, bringing the number to a staggering $4.5 trillion. This growth is slower than what we saw in 2021, but it’s still enough to show that interest in IT spending is strong, despite the supply chain issues that many companies are experiencing as a result of the global pandemic and conflicts. Most of this spending is attributed to an increase in cloud expenditures and data centers, which when you consider the circumstances, makes a lot of sense.

Technology Acquisition Troubles Are Not Deterring Business

Now, you might wonder why people are spending so much on IT when it can be challenging to acquire such goods in the first place. Well, the reason is precisely because it will be even harder to acquire in the future. At least, that’s what John-David Lovelock, research vice president at Gartner, believes. Prices will only grow higher and more expensive, so businesses want to get ahead while they can afford to do so. It’s like taking a preventative measure now to keep yourself from spending more on resolving an issue in the future.

Other notable numbers related to IT spending for the remainder of 2022 include the following:

• An increase in cloud spending of about 22.1%
• An increase in server spending of about 16.6%
• A decrease in PC sales of about 5%

Be Prepared with Managed Services

We understand that your business spends a lot of capital on IT, and we have a solution to help you save money while improving your services. With our managed IT solutions, you’ll have access to more affordable IT services and maintenance, allowing you to have more flexibility with the way you approach your organization’s technology. Phantom Technology Solutions wants to help you increase your bottom line, and we know just how to do it.

To learn more about how managed services can benefit your business, reach out to us at (800) 338-4474.