Study Shows Significant Opportunity for Companies to Manage IT Spend and Re-Invest Savings in Digital Transformation
Flexera, the company that helps organizations maximize business value from their technology investments, announced the findings of the Flexera 2021 State of Tech Spend Report. A part of the Flexera State of series of reports, the Flexera State of Tech Spend Report provides insight into current and future technology spend from the perspective of enterprise CIOs and IT executives. The report highlights how companies are shifting spending to support their critical IT initiatives, how they’re tracking and managing IT spend, and the challenges they face in optimizing spend.
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Survey respondents are IT executives working in large enterprises with 2,000 or more employees, headquartered in North America and Europe, encompassing industries such as financial services, retail, e-commerce and industrial products. More than half are C-level executives.
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“Enterprises are under enormous pressure to increase innovation and reduce IT spend,” said Jim Ryan, President and CEO of Flexera. “In chasing innovation, we continue to see a significant, some would say unsustainable increase in cloud spending.”
“However, cloud isn’t the end game itself nor is it even close to the entire story,” continued Ryan. “We expect the ability to both see and manage the entirety of IT spending—across cloud, on-prem and SaaS— as a strategic imperative for any enterprise spending 10’s of millions or more on IT. Only after companies gain this visibility can they map this spend back to business services and ultimately to business outcomes.”
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