Businesses Spent $15bn More A Week On Technology During Pandemic

Businesses around the world spent the equivalent of $15bn extra a week on technology as they transitioned to remote working as a result of the pandemic, according to the 2020 Harvey Nash/KPMG CIO Survey.

Harvey Nash and KPMG claim it is the largest IT leadership survey in the world, with over 4,200 CIOs and technology leaders taking part across 108 countries. This year the survey was split into two – one prior to Covid-19 and one during the pandemic.

The survey found that over an eight-week period, between 5 June and 10 August, global technology leaders reported a median additional technology spend of 5% to deal with the Covid-19 crisis as a percentage of the total of their annual IT budget.

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