IT executives struggle to manage spending effectively

Wasted technology spend accounts for 30 percent of all IT spending according to the latest State of Tech Spend report from Flexera. The average IT spend is 8.2 percent of revenue, but larger businesses (with more than 10,000 employees) this rises to 9.3 percent of revenue. 56 percent of respondents expect to increase their spending The top challenges to IT spending visibility are cited as reporting on spend by IT business service (61 percent), collecting IT spend data (43 percent), and reporting on IT spend by application (38 percent). While challenges to managing spending include too many manual processes (86… [Continue Reading]