To: PAL who wrote (105530 ) 2/27/1999 9:04:00 AM From: Mohan Marette Read Replies (1) | Respond to
Don't you believe the imbeciles and charlatans of Wall Street.Increased IT Spending Tops Exec Wish List Increased IT spending is on the agenda for the CEOs of many high-technology companies this year, even as budgets are strained by year 2000 worries and companies are hit by technical staffing shortages. Roughly 38 percent of the high-tech businesses across the country plan to increase their IT budgets, while another 48 percent hope to maintain their present level of IT budgeting, according to the results of a survey of U.S. technology companies conducted by New York-based PricewaterhouseCoopers, a global services- and systems-integration company. Only 11 percent of the executives taking part in the survey anticipate decreasing their overall IT expenses. An average of 23 percent of all the companies said they cannot find skilled and trained computer workers, highlighting a growing problem being faced by all businesses in the United States. Studies have pinpointed worker shortages reaching 640,000 this year, even as efforts are being made by companies such as Microsoft to beef up internal and external training programs. Twenty-two percent of the large high-tech companies reported their systems do not work well enough to meet their current needs, and may not be working at a level to keep the company technically competitive vs. 6 percent of the smaller businesses. Competition is cited as the major reason why executives are looking to pump more resources into IT system upgrades. More than 60 percent of those taking part in the survey reported they must continue enhancing current IT systems to stay ahead of their competitors. The frequency of upgrades is considerable. Approximately 32 percent make improvements at least weekly, 10 percent monthly or quarterly, 7 percent semiannually, and 13 percent yearly.
