5 Emerging Trends in 2018 Budgets

Posted by Chris Selby-Rickards on 29-Oct-2017 14:40:07

Both Spiceworks and Tech Pro Research have released reports exploring whether companies are planning to increase or decrease their IT budgets in 2018 and how those dollars will be spent. Knowing how other companies are allocating their IT budgets can give you insights that might help you when you are creating your own budget.

Here are five budgeting trends brought to light in Spiceworks' "2018 State of IT" and Tech Pro Research's "2018 IT Budgets" reports:

1. Few Companies Are Planning to Cut IT Budgets

Not many businesses are putting their IT budgets on the chopping block in 2018. Only 11% of the IT professionals surveyed in the Spiceworks study and 19% of the IT staff polled in the Tech Pro Research survey reported that their companies will be spending less on IT in 2018 compared to the previous year.

2. Businesses Are Putting Money Aside to Improve Security

With cyberattacks increasing in number and sophistication, it is not surprising that many companies are focusing on enhancing security. In the Tech Pro Research study, 53% of the businesses said that security is a top priority in their 2018 IT budgets.

Security was also on the minds of the Spiceworks survey participants. They indicated they are planning to increase their security-related software and hardware budgets, with a 10% increase in security software and a 7% increase in security appliances, according to a Spiceworks senior technology analyst.

 

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3. New Hardware Is High on Businesses' Priority List

Like security, new hardware is a high-priority budget item for many companies in 2018, according to both surveys. In the Spiceworks study, desktop computers topped the list of hardware to purchase, especially in small and midsized companies. Perhaps desktop computers are not going the way of the dodo bird after all.

4. Cloud Service Allocations Are Still on the Rise

Companies are budgeting more money than ever for cloud services. By comparing past and present Spiceworks survey results, the rise in cloud spending becomes evident. Companies reported allocating 14% of their 2016 IT budgets, 17% of their 2017 IT budgets, and 21% of their 2018 IT budgets for cloud services.

5. Many Companies Are Not Putting Money Aside for GDPR Compliance

Starting in May 2018, any organization that processes or stores the personal data of European Union citizens must comply with the General Data Protection Regulation (GDPR). However, the Spiceworks survey shows that many companies in North America and Europe have not budgeted for GDPR compliance. Only 43% of the respondents said they have put money aside for it. Not surprisingly, fewer North American companies included this item in their budget compared to their European counterparts.

 

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Topics: anti virus, business, cloud, cloud computing, computers, cyberattack, cybersecurity, IT, News, passwords, phishing, policy, protection, security, windows

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