Computer Economics: Impact of the Coronavirus Pandemic on IT Budgets in 2020
At the beginning of 2020, IT organizations were poised for another year of strong IT operational budget growth—and then the global coronavirus pandemic struck. IT leaders are changing their priorities for new projects as a result of COVID-19.
Based on the results of the 31st annual Computer Economics IT spending survey just completed, Avasant’s digital forum “Computer Economics: Impact of the Coronavirus Pandemic on IT Budgets in 2020” discussed how companies are responding to the crisis. Speakers, Frank Scavo, Avasant partner and president of Computer Economics, and David Wagner, senior research director at Computer Economics, found that while some companies have been forced to cut budgets or head count, most IT organizations are in a “wait and see” mode.
The Digital Forum addressed issues including:
- The depth and breadth of budget cuts
- How cloud, outsourcing, staffing, and compensation might be affected during the recession
- How benchmarking metrics remain useful despite the economic volatility