How much of your organizations budget goes towards new technology?
<1-2%28%
3-5%43%
>5%28%
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What do you consider “new”. If new is something you’ve never done/used before it could be below 1%
We have been migrating to the cloud for years so I don’t consider that “new”
the budget usually varies depends on many elements especially the group growth and economy
The first thing to keep in mind is that the budget can vary widely and should not be encapsulated into a standard unless thorough analysis has been completed.
The number will vary widely by industry and age of the company and financial strength among other factors. Above 5% is what I generally see with successful growing firms.
If I am working to turn around a small firm and we find the tech they use is poorly suited, they are going to be investing in tech more aggressively than a similar firm in the same industry and same age...
The sector and size matters but usually about 4%.
There's definitely some nuance here since a technology can be new to your firm but a very legacy technology. Alternatively, something could be legacy at your firm but a new tool built in the past few years. Either way, interesting to see the 3-5% lead.