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So, given the state of the economy, where are IT budgets headed?
The latest insight comes from the Society for Information Management (SIM), the national organization of CIOs and other IT professionals.
SIM reported earlier today that despite a discouraging economic outlook, CEOs, CIOs and top enterprise managers are still projecting that their budgets and staffs will increase next year. SIM based its conclusion on a June survey of IT managers at nearly 300 companies.
Among the key SIM findings:
-- Almost half the respondents, 44%, thought their IT budgets would increase in 2008 and 43% expected that their staffs would grow next year.
-- Three quarters of the respondents expected IT salaries to rise next year.
With all of the concern regarding our economy, it appears as though IT and business executives are working closely together to ensure they are well prepared," said Jerry Luftman, a distinguished professor and associate dean at the Stevens Institute who oversaw the survey, in a statement that was released with the report. "Budget and headcount forecasts remained strong, despite the fact that economic conditions were weakening at the time the survey was taken."
Granted, things might be changing in light of the financial news of the past few weeks.
But Luftman thinks the results are a good reflection on where IT budget plans are today and shows that business leaders believe IT plays an important role in organizational growth, even in bad economic times.
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