69 Percent of SMBs Focus IT Budget on Emerging Tech

Sixty-nine percent of small and medium-sized businesses are devoting part of their IT budget for 2016 to newer and emerging technologies. These include technologies like 3D printers and wearable devices, as well as dashboard and data visualization software applications. The stat comes from a new survey-based whitepaper by technology company Insight Enterprises Inc. (NASDAQ: NSIT).

That figure raises to three in four tech influencers from large companies (74 percent) who are planning to invest in newer, more adaptable technology, and (75 percent) from medium-sized companies, says the Fortune 500 global tech provider of hardware, software, cloud and service solutions for small businesses.

In this whitepaper, small companies are defined as having less than 100 employees, medium companies have 100 to 999 employees, and large companies have 1,000 or more employees.

But Why are So Many Businesses Adding Emerging Tech to their IT Budget?

According to the report, a sizable number of business owners (65 percent) are apprehensive about emerging technology. They are concerned about disruption from technology innovation, such as new devices, applications and software solutions that are hitting the market at an incredible rate. Maybe you are one of those who are truly concerned about the impact new tech will have on your business landscape.

While tech innovations continue to emerge at unprecedented rates, reshaping the business landscape, innovative technology is also becoming increasingly accessible and affordable, says the Arizona-based Insight Enterprises. This accessibility creates more opportunity for growing businesses to revamp their infrastructureand consider how new technologies can be integrated in business via their IT budget.

“Disruption is on the horizon, and to deal with it companies are turning to intelligent technology as a smarter way to run their businesses. Today’s technology infrastructure and application deployment environments offer flexibility, scalability, and consumption options that simply were not around a few years ago. It’s an exciting time to harness this new model toward speed, agility and competitive positioning. This is why tech decision-makers are moving more aggressively to invest in the right combination of intelligent technology solutions,” said Steve Dodenhoff, President, U.S., Insight Enterprises, in a press release announcing the survey report.

Driving Business Growth through Technology and Innovation

The report corroborates another recent survey by Cisco (NASDAQ: CSCO) and ZK Research suggesting that 86 percent of small businesses are considering the use of cloud-based unified communications (UC) systems as a possible solution to their communications needs. Other companies targeting small businesses have begun introducing smart technology, such as do-it-yourself website design service Wix, which recently introduced websites that design themselves using artificial intelligence (AI).

Tech innovation and adaptability seem to be the name of the game when it comes to business growth.

Findings from the Insight Enterprises’ Intelligent Technology survey show technology influencers at small businesses are less than satisfied with the current state of IT at their companies, which they feel is hampering their growth. Forty percent of these influencers say their IT budget will be invested in maintenance of existing equipment and infrastructure, followed by innovation, including the adoption and development of new technologies this year. And old technology won’t be the basis for building businesses of the future.

The Insight Enterprise survey was conducted online by independent research firm Market Intel Group between November 30, 2015 and December 8, 2015. It sampled over 400 IT professionals including tech leaders with decision-making responsibilities and close to 200 respondents from small businesses. The survey contains a variety of useful insights for IT professionals and company leaders who make decisions about IT infrastructure and business growth strategies.

“Small businesses, just like enterprise organizations, should think about technology not just as an operating expense or capital investment, but as a strategic enabler to drive scalability, competitiveness and growth,” Dodenhoff insists. “Maximizing technology investments is now within reach as technologies once only available to very large organizations are becoming more accessible to small and mid-market businesses alike.”

Business Tech Photo via Shutterstock