February 08, 2013, 1:16 PM — The latest CIO Magazine Tech Poll/Tech Priorities survey indicates that IT budgets will rise over the next 12 months and investment in mobile technology will garner the largest chunk of increasing IT budgets. IT executives are also targeting spending initiatives on cloud computing services and business intelligence and analytics (BI&A) among their top three areas of interest.
According to the latest CIO survey, almost half, or 48 percent, of 269 top IT decision-makers report that IT spending will increase over the next year, 39 percent expect budgets to remain flat, and 13 percent anticipate IT budget cuts.
These figures align closely with a similar survey taken six months prior, in January 2012, when 46 percent of respondents reported increased spending, 38 percent said budgets would remain flat, and 16 percent reported less spending.
Business process innovation is the key driver for increased spending at over one-third, or 35 percent, of responding organizations. Twenty-two percent of respondents report the drivers for increase spending in each of two areas: creating top line revenue growth and more efficient management of IT infrastructure while 18 percent of organizations are looking to lower business operating costs.