Wednesday, June 23, 2021

Canadian IT leaders plan to cut costs, expand revenue base: study

The majority of Canadian IT leaders are concerned about the economy in the U.S. this year, and are taking action to counter those worries, according to a recent survey.

The study was conducted by London, Ont.-based research firm Info-Tech Research Group, on behalf of the Canadian Advanced Technology Alliance (CATAAlliance).

More than 70 per cent of respondents believe the U.S. will fall into recession this year and are taking measures like cutting IT costs, specifically 33 per cent are reducing overhead and 24 per cent delaying capital spending.

Also, some IT leaders are looking to expand company revenue base, with 31 per cent of respondents enhancing product or service offerings and 30 per cent growing the business outside of North America.

“It appears that Canadian IT executives view the U.S. economic challenges as an early warning signal of potentially tough times to come for Canadians, and are ensuring that they do the right things to compensate,” said John Reid, president with CATAAlliance.

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