Although technology remains a key focal point for many businesses, companies are undoubtedly reprioritizing spending patterns in order to adjust to current economic conditions. Yet, despite the whispers of IT budget cuts, this belt tightening is not necessarily a reflection of decreased spending, but rather of slowing growth rates.
Companies continue to build out their e-business infrastructure in order to remain competitive.
Layoffs are common in weak economic climates, and the recent rounds of layoffs have extended far beyond the dot-com world. Applications such as project management software, as well as employee and customer self-service applications, enable organizations to operate more productively and with less overhead, making up for fewer employees. The benefits here are immediate and come from areas such as policy compliance, cash management, and vendor-negotiated discounts.