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Key IT Trends to Watch in 2024

Information Week has published the results of the latest Gartner 2023 IT Survey and, while there are no big surprises, there are some insights that bear noting. Spending is expected to reach a total of $5.1 trillion in 2024, according to the Gartner report and latest forecast.

Most of those dollars will be spent in these areas:

Public cloud services
According to Gartner, a 20.4% increase is expected on global cloud services. Pricing is going up as well as use of the cloud, both contributing to the increase.
Security
About 80% of CIOs surveyed reported that they intend to increase their spending on cyber and information security initiatives. This isn’t surprising given the surge in technology since the pandemic and the need to maintain systems security.
Data center systems, IT and communications services
Single digit growth is expected.


What about AI?

Generative AI (GenAI) is on everyone's minds these days. Unquestionably it is here to stay and will continue to increase in use as applications become more sophisticated and integrated with other data producing systems.

To date, however, no significant spending impact has been reported for AI technologies, although this is expected to change for 2025. One reason may be the need for companies to decide exactly where they will use AI and how they will map out a strategy to support their GenAI initiatives.

Another is the ongoing concern for security.

IT leaders are cautiously optimistic for the future.

While fears of a continued economic downturn have yet to dissipate, there is, according to the latest State of IT Report, issued by Spiceworks Ziff Davis, a "cautious optimism" fueling increased spending.


According to those surveyed, 84% indicated that they were still bracing for a recession, up from 60% last year. This has motivated many managers to spend the last year in a cost-reduction mode, eliminating unnecessary expenses and tightening up resources. This may help explain the increased confidence behind the increase in technology investments for 2024.

Saving money today to build innovation tomorrow.

Clearly there is no better time than now for IT management to use every available tool to save money needed to help support new initiatives to make their companies more operationally efficient and competitive.

We know this because our WinBill® is one of the tools IT managers are using to save hundreds of thousands of dollars off annual telecom spending. You can be one of them. We invite you to contact us so that we can get to work saving your department significant dollars so that you can bring your company the level of innovation it deserves.

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About TeleManagement Technologies, Inc.

TeleManagement Technologies, Incorporated (TTI) provides Telecom Expense Management and Call Accounting solutions designed to effectively track, integrate, manage and protect an organization's information technology resources. TTI's TEM solution, WinBill®, has developed a reputation for an impressive ROI, with clients reporting savings of 300% or more! WinCall® Call Accounting tracks all domestic and international locations regardless of PBX type (analog, digital, VoIP) to facilitate internal bill back, identify PBX toll fraud and increase employee productivity. Extensive reporting capabilities are also included for planning purposes. TTI's experienced, responsive support team helps keep CFOs and IT/Telecom departments in total control of their technology expenses.

Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.

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