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6 tips for making the most of a tight IT budget

CIO Business Intelligence

IT leaders seeking to drive enterprise growth through technology investments are often saddled with budgets that make their tasks of increasing the top and bottom lines challenging. Despite an estimated increase to IT budgets of 5.1% The year 2023 seems to be no different.

Budget 138
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5 hot IT budget investments — and 2 going cold

CIO Business Intelligence

The numbers are higher from Foundry’s 2023 State of CIO survey , which finds that 91% of CIOs expect their tech budgets to either increase or stay the same in 2023. This applies to his IT group as well, specifically, in using AI to automate the review of customer contracts, Nardecchia says.

Budget 145
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DTN’s CTO on combining IT systems after a merger

CIO Business Intelligence

“We had five different forecast engines running in the company through various acquisitions,” says Lars Ewe, who inherited the thorny IT environment when he joined as CTO in February 2020. Very little innovation was happening because most of the energy was going towards having those five systems run in parallel.”. Forecasting merger success.

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CIOs sharpen cloud cost strategies — just as gen AI spikes loom

CIO Business Intelligence

To be sure, enterprise cloud budgets continue to increase, with IT decision-makers reporting that 31% of their overall technology budget will go toward cloud computing and two-thirds expecting their cloud budget to increase in the next 12 months, according to the Foundry Cloud Computing Study 2023.

Strategy 140
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11 ways to reduce your IT costs now

CIO Business Intelligence

“The net result is that some organizations’ technology debts are growing faster than anything else and robbing them of their budgets and ability to innovate.” Today’s CIO is not just a technology leader, but a business executive. Zero-based budgeting can be a good approach for discretionary spending.

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Getting infrastructure right for generative AI

CIO Business Intelligence

For generative AI, a stubborn fact is that it consumes very large quantities of compute cycles, data storage, network bandwidth, electrical power, and air conditioning. In storage, the curve is similar, with growth from 5.7% of AI storage in 2022 to 30.5% It’s well within the budget.”

Storage 139
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10 cloud mistakes that can sink your business

CIO Business Intelligence

“A pragmatic and structured architectural approach when moving to the cloud is critical,” says William Peldzus, senior director and Center of Excellence head with enterprise consulting firm Capgemini Americas. You must ensure at the start of the project that you have a full, holistic cloud budget,” Matin advises.

Cloud 130