January has long been a time for forecasts and predictions of every kind and this month has already seen a number of encouraging financial projections.
One notable statement came from the British Chambers of Commerce (BCC) which is expecting economic growth to reach 0.9% for the fourth quarter of 2013 with more to come this year.
The BCC’s chief economist David Kern added that a “higher full-year growth in 2013 and 2014 could follow”. Music indeed to the ears of UK businesses.
Other commentators remarked on the strength of the UK’s economic recovery last year with the Office for Budget Responsibility (OBR) revising upwards its 2013 growth forecast from the 0.6% it had predicted last March to 1.4%. The OBR also says it expects to see growth of 2.4% in 2014.
So putting to one side the rather gloomy weather forecasts that have been plaguing those in flood-affected areas of the British Isles, the economic outlook for 2014 actually appears a lot brighter than that of recent years.
[themecolor]IT spending set to rise in 2014[/themecolor]
This growing feeling of optimism surrounding global economic recovery has prompted analyst firm Forrester to forecast that organisations will be spending more on software and IT services in 2014.
In a new Forrester paper, analyst Andrew Bartels concluded that the improving economic outlook would generate cash flow to support the purchase of new technologies that are helping to transform business, including mobile and cloud solutions.
Bartels predictions included the following:
- Spending on IT consultancy reached a 3-year high in 2013
- Business software purchase to grow by 7.8% in 2014 and 11.4% in 2015
- The global technology market will grow by 5% to 6% in 2014
- Spending growth lead by new technologies including SaaS, mobile devices, tablets and smart process applications
[themecolor]Need to road map your IT spending for 2014?[/themecolor]
If you are starting to plan your IT budgets for 2014-2015 or have specific projects in mind, why not call to arrange an appointment with one of our account managers. Our expert advice will ensure you get the most from your IT investment in the coming 12 months.