IT Spending news stories

A recent Xero study found ICT spending for NZ businesses has increased 25% compared to pre-pandemic levels, so how safe is accounting software?

"While digitalisation creates opportunities, it also makes budgeting far more complex, leading many companies to waste substantial funds."

Worldwide government IT spending is forecast to total $565.7 billion in 2022, an increase of 5% from 2021, according to Gartner.

Syniti has introduced a completely cloud-based version of Advanced Data Migration, the first of a range of updates coming this year to its Knowledge Platform.

As backlogs continue to grow, pent-up demand bodes well for future growth as long as the economy stays healthy, and supply catches up to demand.

“IoT in the Asia Pacific excluding Japan (APEJ) markets continues to grow steadily across multiple industries including transportation, retail, manufacturing, resources and utilities."

According to IDC's Worldwide Semiannual Software Tracker, 1H2021, the total A/NZ software market reached US$7.5 billion, showing a double-digit annual growth in both countries.

IT directors expect a budget increase from their employer as companies play catch-up with projects put on hold during the COVID-19 pandemic.

Spending on information technology products and services in New Zealand is projected to total NZ$14.7 billion in 2022, an increase of 6.7% from 2021, according to the latest forecast from Gartner.

“What changed in 2020 and 2021 was not really the technology itself, but people’s willingness and eagerness to adopt it and use it in different ways.”

More so than ever before, an organisation’s ability to quickly pivot and ramp up or down spending priorities is essential.

The decrease comes after six quarters of year-over-year growth, and most notably compares to the 39.1% annual growth seen by the market in 2Q20.

"The APAC chapter of the TBM Council provides a forum and framework to help organisations avoid the operational disruption, cost overrun and project delays that have become prevalent."

Most A/NZ businesses continue to invest in technology despite pandemic, with IT spending levels set to be higher in 2021 than ever before. 

As economies recover from COVID-19, BDA spending has increased over 10% from 2020 and will continue to grow in next five years, according to IDC.

"CIOs are looking for partners who can think past the digital sprints of 2020 and be more intentional in their digital transformation efforts in 2021."

“Looking ahead, we’re seeing early market signals of growing automation and further adoption of machine learning technologies in support of AI security." 

"The support to businesses that IT provided in the outbreak of pandemic has given companies more confidence in IT investment. The expectation on that return of investment is high.”

Globally, 73% of CFOs noted that their digital transformation (DX) investments had increased since the pandemic (72% in A/NZ).

The acceleration of digital adoption in the wake of the pandemic was a significant driving force, the analyst firm says in its report, and the lifting of lockdowns across the region has stirred consumer demand.

Australian organisations will spend more than A$4.9 billion on enterprise information security and risk management products and services in 2021, according to the latest forecast by Gartner. 

Despite organisations cutting spending in many areas during 2020 due to the impact of COVID-19, security remains a consistent area of increased investment.

Worldwide government IT spending is forecast to total $483 billion in 2021, an increase of 5.1% from 2020, according to the latest forecast by Gartner.

This is a marked improvement from last year, where IT spending declined by 3.2% in the wake of the COVID-19 pandemic, which forced IT teams to prioritise mission-critical infrastructure over IT spending.