IT budgets expected to rebound, focus on security, remote work: 5 things to know

IT leaders expect their budgets to bounce back, and in some cases increase, during the second half of 2020, according to a report in The Wall Street Journal.

The article outlines findings from a study conducted by Pulse, an online IT research platform. The study included responses from 100 technology executives representing companies with more than 10,000 employees. The company gathered responses from May 7-22. Here are the key findings:

1. Seventy-two percent of leaders said their IT budgets were frozen or cut in May, but 51 percent expect those budgets to increase in the next month or remain at the levels set at the end of last year.

2. Twenty-two percent of respondents plan to make a single purchase of more than $100,000 in the next six months; 36 percent projected doing so in late March.

3. Top spending priorities include:

· mobile security
· internal communication and collaboration tools
· customer communication and collaboration tools

4. Virtual private networks and password management tools are the most common new budget items. Overall, new budget items are focused on expanding remote-work capabilities.

5. Forty-nine percent of leaders expect more IT budget reductions and freezes in the coming months.

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