Follow the tech money: Business execs gobble up new projects
Business technology spending will outpace overall information technology spending by a wide margin as executives increasingly focus on software and consulting services and shun hardware, according to Forrester Research.
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As a result, CXOs will essentially split the technology budget with traditional IT focusing on costs and infrastructure and business line leaders rolling with software and services.
According to analyst Andrew Bartels, business technology spending will rise to 31 percent of all tech goods and services by 2017. Business technology spending will also represent more than half of new projects in 2015 and grow at least 10 percent a year.
Given those projections it isn't surprising enterprise software vendors are chasing line of business leaders so much.
The reason business tech spending is winning is simple: Those projects are focused on the customer and revenue growth. Forrester's Bartels noted in a research report that CIOs will have to focus on customers unless they want to be relegated to back-end technologies.
This chart tells the tale.