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As IT budget planning resumes, familiar concerns persist, including high inflation rates, looming recession possibilities, disruptions in global supply chains, unpredictable international exchange rates, volatile stock markets, and the ongoing impact of Russia's invasion of Ukraine on central and eastern Europe. Despite low unemployment, organizations face challenges in attracting and retaining talent amid layoffs in various sectors. Amidst these uncertainties, crafting a 2024 IT spending budget becomes a complex task, with unknown factors potentially affecting IT supplier pricing, new investments, and employee wages, leading to increased scrutiny of all budgets in the current economic climate. According to a recent Forrester survey, most IT leaders anticipate some budget increase in 2024, with 78 percent of US technology decision makers expecting greater investment in cloud infrastructure and development, albeit less than in the previous year. In this context, the primary recommendations emphasize the elimination of redundant tools and the alignment of cloud strategy with overall IT design, focusing on interoperability, seamless workload shifts, and the removal of barriers to scale.
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