IT managers predict tightening of belts
News Article - Thursday, June 26, 2008 11:24
Filed under: Industry news
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IT managers are predicting they will have to get better value from their managed applications as the economic climate tightens.
A survey of IT managers by CIO Connect revealed many think their budgets will be cut and they will be made more efficient in the next 12 to 18 months.
Of the respondents, 80 per cent think they will be asked to get increased value from their department, with almost three-quarters saying a demand on business process efficiency will be made.
The survey also found 59 per cent of IT managers think their budget will be cut in the next 12 to 18 months, with 60 per cent thinking they will extend to five to ten per cent.
IT managers reported being concerned about the position they hold in the company, with only 40 per cent saying their chief information officer has a place on the firm's board.
According to ITPro, the IT industry could be detrimentally affected by the budget, as profit warnings were issued by 13 London-based IT companies.
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