They were followed by financial services organizations whose spending stood at 10% of revenue. Perhaps unsurprisingly, IT industry companies invested in IT more than any other industry, with software and hosting companies ranking the highest at 24.7%. On average, company’s spend 8.2% of revenue on information technology spending when reported by industry.įlexera recently issued a State of Tech Spend report representing data about IT spending from 300 IT executives from medium and large organizations. The best examples of this transformation are applying technological tools and devices for collaboration and communication, such as cloud migration of data, employee productivity tracking, and project management software. Digital transformation is the process of including and adopting digital tech into the workplace environment. The move to a technologically infused workplace is set to expand rapidly by 2024. The latest technology in the workplace statistics state that direct investments into digital transformation will reach an estimated $2.4 trillion in 2024. Remaining informed, up to date, and aware of how the market is affected by technology is now a mandatory part of doing business. Entrepreneur statistics reveal that the most common reason businesses fail is because they don’t understand their clients, competition, and market-and tech is a huge part of that. ![]() As technology becomes a more integrated part of the working environment, the importance of understanding technological trends becomes more and more imminent.
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