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Companies planning to spend more on IT in 2015

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Survey finds majority of companies planning to spend more on IT in 2015

It’s good news for the IT industry in 2015 after a new UK-wide survey found that six in ten finance directors say their organisations plan to increase IT spend over the coming 12 months, with a further three in ten planning to continue their spending habits from 2014.

The statistics were revealed following a wide-ranging UK study conducted by FD Recruit, which specialises in the recruitment and career development of finance directors. As part of its service, FD Recruit surveys hundreds of industry professionals about hot industry topics.

Heading into 2015, FD Recruit quizzed its finance directors about spending projections for the coming year, finding that 80% of finance directors are either ‘optimistic’ or ‘very optimistic’ about 2015 - and that figure will translate into investment into new IT systems, upgraded hardware, new software purchases and new handsets and devices.

In more general terms, the FD Recruit 2015 Forecast found that about a quarter (26%) of finance directors reported that business in 2014 had exceeded their expectations; 58% are expecting growth in 2015, with a further 18% were preparing for ‘significant’ growth.

Phil Scott, director of FD Recruit, said: “The survey shows that UK businesses are optimistic heading into 2015, and in great news for IT suppliers, this is going to translate into an increase in spend across the industry.

“The economy has been tough for a number of years, but what the 2015 Forecast reveals is that there is renewed confidence of an upturn in business and finance directors are planning to spend more in 2015.”

In preparation for this success, finance directors are predicting to increase their spend in a number of areas:

Recruitment and staff
45% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Property, offices and buildings
52% of respondents expect to increase their spend
28% expect to match the previous year’s spend

Equipment and machinery
64% of respondents expect to increase their spend
22% expect to match the previous year’s spend

IT and technology
57% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Marketing
45% of respondents expect to increase their spend
23% expect to match the previous year’s spend

Date Posted: January 21st 2015

Posted By: Jo Howarth