Study: Businesses will spend more on IT projects

Study: Businesses will spend more on IT projects

This year, chief information officers plan on providing more resources to improve cloud computing capabilities and enterprise resource planning systems, but data security solutions are still a priority above these initiatives.

On average, many American and European businesses will expand IT budgets by 4.5 percent, primarily focusing on data analytics and database management services. Findings came from Morgan Stanley, who asked European and American CIOs about their goals for 2014.

“Improved 2013 spending was broad-based, with each technology sector seeing an upward revision, and all sectors are expected to see in-line to slightly better growth in 2014,” the report explained.

As companies begin to complete more of their tasks on computers or tablets, it is becoming increasingly important to streamline long-term data capture services, whether this is through a data center or cloud-based server. However, the days of the in-house server may be getting smaller, according to ComputerWorld.

Part of this is due to the rise of bring-your-own-device policies in the workplace and popularity of the cloud, which has shown to improve work outcomes and streamline operations.

“Increased spending on cloud computing will come at the expense of server and storage device purchases,” ComputerWorld contributor Juan Perez wrote.

However, if budgets get cut during the year, participants said that expenses around data security solutions are still one their organization’s largest priorities, surpassing plans to revamp cloud computing efforts.

Tab Service Company is a Chicago based company with over 53 years of experience as a data processing service provider.  We provide business with outsourcing solutions for document scanning services, data entry services and mailing/lettershop services. As an SOC2-approved organization, we apply industry-best practices to our approach with clients.