Are businesses still budgeting for a move to the cloud?

September 15, 2021
Access Tech: The need to transition to the cloud has created an uptick of businesses outsourcing resources. With this, IT spending has increased to keep businesses competitive. Are you spending enough on IT?

There has been a huge uptick in businesses outsourcing applications and entire processes to the cloud. Due to the needs that these changes require, many of those businesses are hiring managed service providers (MSPs). MSPs provide very useful services for various IT needs, many of which most companies cannot perform alone. A recent report has shown that MSPs have generated almost “$8 billion in annual contract value.”

What does this mean?

  • 24% increase over the last year
  • 13% increase of the overall historic average

But are businesses still gearing their IT spending on these massive rehauls and projects? The majority of these budgets have been allotted to digital transformations. This was necessary due to the restructuring of their processes towards remote working. However, now the economy seems to be experiencing a kind of “pandemic hangover,” causing IT spending to halt by about 5%. This does not mean the need for assistance has decreased, just the amount of spending put towards these needs. As long as the price is right, we will continue to see businesses flocking to the cloud.

Do you have a plan for moving to the cloud? Are you wondering if you are ready for such a move or are you interested in what that would entail? Reach out to Access Tech – We have an abundance of resources available to help you on your way.

[Source: MSP growth]