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https://info.flexera.com/FLX1-REPORT-State-of-Tech-Spend?utm_source=eloqua&utm_medium=email&utm_campaign=IT/ITSecurity_Em...
Submission: On November 14 via api (November 14th 2023, 2:13:42 pm UTC) from US — Scanned from CA

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1 forms found in the DOM

Name: FLX1-REPORT-State-of-Tech-Spend-2023 — POST https://s2391.t.eloqua.com/e/f2

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Text Content

___



TECH SPEND PULSE


9 OF 10 RESPONDENTS CITE INCREASED PRICES FROM VENDORS AS A TOP CHALLENGE

Download now


PULSE HIGHLIGHTS

Here’s a sample of key findings from this year’s report based on a survey of 506
IT executives from around the world. Scroll to find out more about current
trends in technology spend.

IT waste estimates improve


ESTIMATED WASTED TECHNOLOGY SPEND



N=431 Desktop, N=435 Data center, N=449 SaaS, N=425 IaaS/PaaS
Source: Flexera 2023 Tech Spend Pulse (Figure 12)



Investments in artificial intelligence surge


PLANNED CHANGES TO USE OF EXTERNAL IT RESOURCES

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 27)



See what else is changing in technology investments

Poor data quality hinders decisions


CHALLENGES IN IT DECISION MAKING

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 22)



IT vendor pricing increases


TOP SPEND OPTIMIZATION CHALLENGES

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 23)



IT work-from-home rates plunge


HOW HAS YOUR PACE OF DIGITAL TRANSFORMATION BEEN IMPACTED BY
ECONOMIC UNCERTAINTY?

2023: N=506, 2022: N=501
Source: Flexera 2023 Tech Spend Pulse (Figure 8)



Discover more workplace trends

This Pulse provides a high-level perspective on technology and spend issues that
concern senior procurement and IT leaders as they develop strategies and make
decisions that influence the trajectory of their businesses.


THE FLEXERA 2023 TECH SPEND PULSE REVEALS:

   
 * Demographics
   * What size is your organization?
   * Where are you located?
   * What’s your industry?
   * What’s your department?
   * What’s your level?
   
 * Key initiatives for 2023
   * Top 5 priorities for IT initiatives
   * Top technology initiatives year over year
   * How has your pace of digital transformation been impacted by economic
     uncertainty?
   
 * IT spend benchmarks
   * How much does your organization spend on IT?
   * IT spend by organization size
   * What percentage of your revenue is spent on IT?
   * Estimated wasted technology spend
   * Percentage of revenue spent on IT by size
   * Percentage of revenue spent on IT by industry
   * Percentage of IT spend on software
   * Percentage of respondents expecting a change in their IT budgets
   * Percentage of budget allocated to running the business vs. growth
   * IT spend decentralization
   
 * Digital transformation/shift to the cloud
   * Plans for number of data centers in the next 24 months
   * Expected change in technology investments in the next 12 months
   * IT spend visibility challenges
   * Challenges in IT decision making
   
 * Challenges in spend optimization
   * Top spend optimization challenges
   
 * Consumption of IT vendors
   * Top 3 technology vendors
   
 * IT organizations’ adaption to changing workforces
   * Breakdown of IT staff
   * Planned changes to investments in IT staffing
   * Planned changes to use of external IT resources
   
 * European spotlight
   * What size is your organization?
   * What’s your industry?
   * Top 5 European priorities for technology initiatives
   * Percentage of revenue spent on IT for European respondents
   * Percentage of European respondents expecting a change in their IT budgets
   * Expected change in technology investments in the next 12 months for
     European respondents
   * How economic uncertainty has impacted digital transformation for European
     respondents
   * Challenges in IT spend visibility for European respondents
   * Top 3 technology vendors for European respondents
   * Breakdown of European IT staff
   
 * Looking forward
   * What’s next for technology spend in 2023 and beyond?


METHODOLOGY

506 technical professionals and executive leaders worldwide participated in the
Flexera 2023 Tech Spend Pulse survey in the summer of 2023. Survey participants
include professionals across industries and context areas. All numbers and
percentages are rounded to nearest whole number.


REUSE

We encourage the reuse of data, charts and text published in this Pulse under
the terms of this Creative Commons Attribution 4.0 International License. You
are free to share and make commercial use of this work as long as you attribute
the Flexera 2023 Tech Spend Pulse as stipulated in terms of the license.


DEMOGRAPHICS

This year’s survey targets organizations with more than 2,000 employees, with
nearly half (46%) exceeding 10,000 employees.


WHAT SIZE IS YOUR ORGANIZATION?

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 1)



Similar to previous years, more than two-thirds of respondents were from the
Americas, with the vast majority of those from the U.S.

European respondents comprised 29% of the total respondent pool, with the UK
contributing 12%.


WHERE ARE YOU LOCATED?

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 2)



This year’s Tech Spend Pulse encompasses a diverse range of industry sectors,
led by financial services (20%) and healthcare (11%). Retail and eCommerce,
tech: software and industrial products each made up 9% of respondents.
Industries with less than 4% representation in the survey are included in the
“other” category.


WHAT'S YOUR INDUSTRY?

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 3)



Most respondents (74%) work in the IT organization, but only 5% identify as IT
finance. Departments with a representation of less than 4% are aggregated into
the “other” category.


WHAT'S YOUR DEPARTMENT?

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 4)



The vast majority of respondents work in IT


WHAT'S YOUR LEVEL?

N=506
Source: Flexera 2023 Tech Spend Pulse (Figure 5)




62%

Almost two-thirds of respondents are C-level executives or vice presidents.

An additional 22% are directors within their organization.


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