The economic downturn caused most organisations to cut all their budgets last year, including IT spends. Though the worst is now over, recovery is happening very slowly. These are therefore extremely challenging times for budget planners, who're currently busy planning for the next financial year. What kind of growth plans should they project and plan for next year? What should be their business priorities? Since IT is directly aligned with every organization's business needs, the IT spends can only be determined after the business priorities are decided. To make life easy for IT budget planners, who would be caught in a dilemma right now because of this, a survey of large and very large organizations was made to understand their IT spending plans for the next fiscal. The results are interesting indeed, giving a positive outlook for next year.
Business prioritiesThe business priorities for a majority of organizations across all industries surveyed over the current financial year (2009-2010) were to reduce operational cost, followed by improving productivity and customer service. This was understandable given the economic downturn. In the coming 12 months also, organizations plan to do the same, possibly, as the market condition improves, these priorities will change, and organizations will start looking at more growth oriented activities. Amongst the various industry segments that were surveyed, manufacturing organizations had productivity improvement as their top priority, followed by measures to reduce operational costs. Improving customer services was the top priority in the BFSI segment, which perfectly gels with the fact that most banks were busy deploying CRM solutions last year
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