IT: The Constant Within Economic Unrest
Given the macroeconomic roller-coaster we’ll all witnessing, it’s difficult to say definitively how economic events will impact an organization’s IT budget. Understandably, when issues such as overseas instability emerge as a pressing concern, people tend to become more cautious with unpredictable investments, but what about the constants?
Not investing at all can be just as detrimental as making a bad investment. The key, as many strategic approaches have shown, is to invest in areas that’ll enable the business to save money as well as accelerate business value (i.e.; make money). And the good news is that IT seems to be a bright spot for spending across enterprise organizations.
Computerworld’s recent ‘State of the Enterprise’ survey supports this conclusion in ways that might surprise. When asked what effect a new economic downturn would have on spending, a majority of enterprise IT executives indicated their spending would likely increase on alternative technologies such as Cloud and Virtualization. With a cost saving potential, these alternative technologies also allow IT to refocus resources toward creating business value. This reminds us that while macroeconomic events should certainly garner our attention, it doesn’t necessarily have to dictate a retraction in your business strategy. IT will continue to enable organizations in a myriad of ways, including deepening customer relationships and enhancing productivity.
In turn, marketers must continue to hold on to the budget needed to invest in demonstrating their organizational value in achieving these goals. Let’s not forget that 46% of the Fortune 100 were founded during a recession. If we’re not taking advantage of the opportunity difficult times present, another company will be right along to do just that.