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Customer engagement spending tops the list in this Metrigy study.

With the global economic uncertainty and layoffs, particularly among technology companies, it’s not surprising that many are wondering what 2023 will bring for technology spending.

The good news is that business leaders are prioritizing technology spending—and most areas will see impressive increases in spending with customer engagement at the top of the list, according to Metrigy’s 2023 Technology Spending Forecast research study, conducted in late August.

When it comes to overall business budgets, 49.4% of companies plan to slow their spending, while only 25.7% plan to increase spending (the rest will stay flat). In addition, hiring and travel already have slowed , while employee compensation is holding steady.

The news is much better for technology, though. Despite the fact that only about a quarter of companies will increase overall business spending, 49% plan to increase their total tech spending in 2023 by an average of 25.9%. The top three areas for spending include customer engagement, security, and professional services. More than half of companies also will increase spending on wireless, employee experience, workplace collaboration, and laptops/computers.

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Robin Gareiss

Robin Gareiss is CEO and Principal Analyst at Metrigy, where she oversees research product development, conducts primary research, and advises leading enterprises, vendors, and carriers focusing on customer experience and engagement, digital transformation, and contact center.