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IT spending grows at fastest rate in five years

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IT departments are set to increase their spending by 3.3% in 2015, the highest growth seen for 5 years, according to CEB 2015 IT Budget Benchmark Report, a major study of 200 worldwide organisations with a spending power of £46 billion reveals.

The increase, up from 3% last year, and 1.8% in 2013, reflects the growing importance of digital technology in companies' business strategies, according to the CEB (Corporate Executive Board), the member-based advisory group which conducted the research.

Businesses leaders see technology as playing an increasingly competitive role in 2015, Andrew Horne, managing director of CEB said. “Each year we ask senior executives what their priorities are for the next year, and this year, 70% of their business priorities next year can only be implemented by investments in technology,” said Horne.

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