Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Companies with more than 1,000 employees were significantly more likely than smaller firms to have experienced reductions or elimination of projects so far this year. With more going onincluding more people, more projects, more outside IT partners, more financial exposurelarger companies have more opportunities to cut. Still, companies both large and small have cut spending more in non-IT areas than in IT.
Sixty percent of the CIOs at larger companies said they'd faced IT spending cuts this year, compared with only 39 percent among smaller companies. The same trend holds true for project eliminations: 53 percent of large-company CIOs said they'd experienced outright eliminations, compared with just 38 percent of those at smaller companies.
The numbers are significantly higher for non-IT spending: Fully 70 percent of CIOs at large companies and 46 percent of those at smaller firms reported pull-backs in such areas as non-IT staff, non-technology capital budgets, and travel and entertainment.
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