In a surprising turn of events, the latest report on technology investments has brought some positive news. Despite concerns over rising costs, economic uncertainty, and layoffs in the technology industry, it seems that companies are actually planning to increase their IT budgets in 2023. According to the report, 51% of respondents stated that their IT budgets would increase, while 38% said their budgets would remain the same, and only 6% expected a decrease.
When it comes to where these IT budgets will be allocated, managed services is the only category that continues to see growth. Over the next two years, the percentage of total IT spending on managed services is projected to increase from 16% to 18%. On the other hand, hardware, software, and hosted/cloud-based services are expected to see slight decreases in their share of IT budgets.
One reason for the ongoing growth of managed services is the challenge of finding skilled IT talent. The report reveals that 59% of respondents find it somewhat or very challenging to find qualified IT professionals.
Despite the positive momentum in IT spending and the increasing popularity of managed services, some companies may still be hesitant to further increase their IT budgets in this category. One possible reason could be past experiences with managed services providers (MSPs) that have resulted in various pain points. These include insufficient response times, lack of technical knowledge, inability to understand clients’ IT environments, understaffed technical resources, poor customer support/communication, and inadequate security monitoring.
Fortunately, Rimini Street and their Rimini Manage™ offerings address these concerns and provide superior levels of service and responsiveness. With client satisfaction ratings averaging 4.9 out of 5.0 in thousands of surveys, Rimini Street is dedicated to delivering ultra-responsive support to their global clients. Their Global Security Services teams, staffed with product specialists and senior security professionals, ensure enterprise software security.
To learn more about Rimini Street’s suite of managed services for applications and databases, including their unlimited ticket model, broad catalog of services, industry-leading SLAs, and global team of highly skilled engineers, visit their website.