How ERP Modernizations Fare Amid Cost Cutting
CIODIVE, March 17th, 2023
Some companies are pausing or delaying implementations. But projects moving ahead face sharper scrutiny than before.
With inflation now a persistent problem, most companies are looking to trim budgets where they can. For some, this includes money allocated for ERP modernizations.
Technology providers are still forecasting growth this year, according to recent Forrester data, signaling that companies still plan to invest more than last year.
Spending growth, however, is decelerating, with Forrester estimating the rate will slow from 7.4% in 2022 to 5.4% this year due to impacts from interest rate hikes, low GDP growth, high inflation and energy costs.