Businesses in Europe have cut their IT budgets in response to the Covid-19 pandemic and its ramifications, and have redirected the remainder to address challenges that home-working policies have forced upon them.
According to the latest, updated edition of the TechTarget/Computer Weekly IT Priorities 2020 survey, 33% of businesses in Europe have reduced the IT budget by more than 5%. At the same time, 55% of organisations said their budgets remained flat, and only 12% said their IT budgets had increased by more than 5%.
Most of the businesses questioned in the survey were from the UK, Germany and France, with about 20% made up of organisations in the rest of Europe.
The pandemic response has seen a major shake-up in where IT budgets are deployed, with remote-working projects, for example, much easier to justify than in the past. According to the survey, nearly half (46%) of organisations said spending