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Best Practices for Benchmarking Your IT Budget Ratios
Benchmarking is a popular way for IT executives to justify their IT budgets and better focus their efforts to achieve a state of continuous improvement. Whether it is to compare their IT spending levels with industry peers, defend current spending levels, justify new spending requests, or identify opportunities for cost improvement, benchmarking is the best way to objectively measure an organization’s IT budget against industry standards.
December, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 6: Banking and Finance Sector Benchmarks
Chapter 6 provides benchmarks for banking and financial services companies. The firms in this sector include commercial banks, investment banks, credit unions, mortgage lenders, consumer finance lenders, and other types of lenders and financial services providers. The 30 respondents in this sector range in size from a minimum of about $50 million to over $40 billion in annual sales.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 3C: Large Organization Benchmarks
The IT spending and staffing outlook for large organizations in 2023 can best be described with the old British slogan, “keep calm and carry on.” As we mentioned in last year’s study, IT budgets are increasingly divorced from economic conditions. As enterprises continue their digital transformation, the IT department is increasingly valuable. Much of that can be attributed to IT’s new seat at the strategic table and the growing perception that technology can drive revenue growth. Despite economic headwinds, we see only a slight pullback in IT spending.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 22: Life Sciences Subsector Benchmarks
Chapter 22 provides benchmarks for life sciences organizations. The category includes pharmaceutical makers, biotechnology product companies, and medical device manufacturers. The 16 respondents in this sample range in size from a minimum of about $50 million to over $40 billion in revenue.
July, 2023
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European IT Spending and Staffing Benchmarks 2023/2024: Chapter 9: Wholesale Distribution Sector Benchmarks
Chapter 9 provides benchmarks for wholesale distributors. The category includes wholesale distributors of building products, home improvement products, auto parts, industrial components, fuel supply, electronics, food and beverage, pharmaceuticals, and other products. The 18 respondents in the sample range in size from a minimum of about €60 million to €30 billion in revenue.
September, 2023
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Generative AI Strategy, Spending, and Adoption Metrics 2024: Chapter 1: Executive Summary
Chapter 1 provides a free executive summary for our first survey-based report on generative AI strategy, spending, and adoption. The full report provides metrics on how much enterprises are spending on this ground-breaking technology, where they are spending it, and how they are governing it. It provides statistics for nearly 200 companies that have already adopted some form of generative AI, providing data ranging from the strategic importance of AI to staffing and budget numbers, to usage data. Metrics are provided for the composite sample along with six industry chapters. [Free Download]
December, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 7: Insurance Sector Benchmarks
Chapter 7 provides benchmarks for insurance companies. The firms in this sector include companies that sell medical and dental insurance, life insurance, property and casualty insurance, auto insurance, disability insurance, and other types of insurance. The 25 respondents in this sector range in size from a minimum of $100 million to over $100 billion in annual revenue.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 10: Energy and Utilities Sector Benchmarks
Chapter 10 provides benchmarks for public utilities, oil and gas producers, service companies, and midstream distributors across all organization sizes. The 28 respondents in this sector include public utilities (water, gas, and electric), integrated energy companies, upstream exploration and production companies, natural gas companies, pipeline operators, and other energy and utilities companies. The companies in our sample range in size from a minimum of about $50 million to more than $60 billion in annual revenue.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 27: Commercial Banking Subsector Benchmarks
Chapter 27 provides benchmarks for commercial banks. This subsector includes credit unions and community, regional, international, and national banks. The 20 respondents in this sample have annual revenue ranging from a minimum of about $50 million to over $40 billion.
July, 2023
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European IT Spending and Staffing Benchmarks 2023/2024: Chapter 10: Energy and Utilities Sector Benchmarks
Chapter 10 provides benchmarks for public utilities, oil and gas producers, service companies, and midstream distributors across all organization sizes. The 18 respondents in this sector include public utilities (water, gas, and electric), regional utilities, integrated energy companies, natural gas companies, pipeline operators, and other energy and utilities companies. The companies in our sample range in size from a minimum of about €150 million to more than €100 billion in annual revenue.
September, 2023
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Generative AI Strategy, Spending, and Adoption Metrics 2024: Chapter 2: Composite Benchmarks
In this, our first survey-based report on generative AI strategy, spending, and adoption, we provide metrics on how much enterprises are spending on this ground-breaking technology, where they are spending it, and how they are governing it. This chapter provides statistics for nearly 200 companies that have already adopted some form of generative AI. It includes 22 figures providing data ranging from the strategic importance of AI to staffing and budget numbers, to usage data. It also covers the reservations and fears of using Gen AI and provides an understanding of the art of the possible.
December, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 8: Retail Sector Benchmarks
Chapter 8 provides benchmarks for retailers. This sector includes retailers of clothing, jewelry, hardware, furniture, sports equipment, groceries, pharmaceuticals, and general merchandise. They include department stores, fashion stores, furniture stores, pharmacies, convenience stores, sporting goods stores, and specialty retailers. We also include hospitality and consumer services in this sector. The 39 respondents in the sample range in size from $50 million to over $100 billion in annual revenue.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 24: Chemicals Subsector Benchmarks
Chapter 24 provides benchmarks for chemicals manufacturers. Chemicals manufacturers are by definition process manufacturers that produce chemical products. The sector includes manufacturers of chemicals, petrochemicals, and other chemical products. The 18 respondents in the sample range in size from a minimum of about $50 million to around $45 billion in annual revenue.
July, 2023
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IT Spending and Staffing Benchmarks 2023/2024: Chapter 31: Utilities Subsector Benchmarks
Chapter 31 provides benchmarks for utilities. The 20 respondents in this subsector range in size from $85 million to $100 billion in annual revenue. This category includes gas and electric utilities, power transmission distributors, water and power utilities, and telecommunications service providers.
July, 2023
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European IT Spending and Staffing Benchmarks 2023/2024: Chapter 11: Healthcare Services Sector Benchmarks
Chapter 11 provides benchmarks for healthcare services companies. The 15 respondents in this sector include community hospital groups, national and regional hospital systems, healthcare systems, long-term care facilities, and other healthcare organizations. These organizations range in size from a minimum of about €50 million to over €15 billion in annual revenue.
September, 2023
IT Spending Benchmarks
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