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To: Grant who wrote (104802)	2/25/1999 8:48:00 AM
From: Mohan Marette	Respond to of 176387

High tech firms' IT spending- 40% to increase spending in 99. High-tech firms practice what they preach By Tom Diederich Nearly four in 10 top executives at high-tech firms plan to set aside a larger piece of their corporate operating budgets for information technology this year. And about half will leave IT spending unchanged, according to a new survey from PricewaterhouseCoopers LLP. New York-based PricewaterhouseCoopers said that on average, high-tech firms are allocating nearly 8% of their annual operating budgets for IT. In addition, large firms are setting more aside for this area than their smaller counterparts, at 9% vs. 6.5%, respectively. The survey results, released yesterday, also showed that one-third of the 376 top industry executives polled said their businesses make improvements to internal IT systems at least weekly to stay competitive. A breakdown of the participants shows that 154 were chief financial officers and managing directors at large, public companies -- including high-tech subsidiaries and divisions -- and that 222 were CEOs from smaller, privately held firms. As for the most important uses of IT, 74% cited accounting systems -- such as payroll, tax and booking -- near the top of the list, while 71% also included order entry and billing systems as important. Other key areas were intranets (57%) and Web sites (51%), the survey showed. And in terms of IT barriers, a shortage of skilled computer workers was cited as a major concern by 23% of the executives, with another 20% indicating that their present staff in this area were inadequately trained.