IT Budgets to Grow Over Security Concerns

Aug 23, 2006 7:28 PM  By

Marketers are expected to show IT budget and capital expenditure growth in 2006, according to the third annual Retail IT Budgeting Study conducted by the National Retail Federation and AMR Research.

The survey found that retailers plan to increase their overall IT expenditures 7%. In addition, from a technology investment perspective, companies are increasing capital expenditures 6%. These expenditures include investments in store systems such as POS and kiosks. Hardware maintenance and software infrastructure are expected to grow 11% for their 2006 fiscal year budgets.

Budgets for IT security are expected to increase 34%, and IT compliance budgets are anticipated to grow 7%. Much of this increase is due in part to merchants trying to comply with payment card industry (PCI) data security standards.