Are any of your IT budget items recession-proof? Which ones?
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Director in Manufacturing2 years ago
Only software contracts with longer terms that don’t have a declining usage clause. We usually purchase for X number of seats +/- some percentage. If we had a divestiture or layoff large enough then that license budget would be reduced. Other than that nothing in the budget is sacred. We always do Zero based budgetsVP of IT in Software2 years ago
IT budget built for high customer value is recession-proof. In more details,During recession, your customer will be more prudent, and they value more for the service and products which brings more values to them for the same budget, compared to your competitors. And your customers may value more product and service which is quantitively better ROI in their assessment.
For example, provide more automation / easy to use analytics / reporting features, which could help your customer use less resources to maintain the same level of service, and making their decisions easier.
For customer, I mean a general term, for both internal and external customers, dependent on the nature of the company's domain.
Executive Vice President, Chief Digital Officer & Head of Cybersecurity in IT Services2 years ago
We normally finalize rate contracts for fixed terms and this helps us to be recession proof.Director of IT in Insurance (except health)2 years ago
Working in the travel industry during the pandemic taught me that nothing is recession proof!I think it depends on your companies core IP and what It assets they value the most
Chief Information Officer in Construction2 years ago
Long term contracts are about the only thing that is recession-proof everything else is fair game.