Rackspace Technology Announces Results of Global Cloud Budget Survey, Uncovers the Hidden Complexities of IT Spend Management...
19 August 2020 - 3:05PM
Rackspace Technology™ (NASDAQ: RXT) today announced the
release of a new survey, “Technology Budgets: Managing Shifting
Priorities.”
The survey examines the proliferation of IT budget management
across organizations. The results of the survey indicate that IT
budgets are spread across many groups within organizations, making
it increasingly difficult for IT decision makers to maintain
visibility into where and how their IT budgets are being spent.
The findings indicate that many organizations are not properly
governing and optimizing costs. The survey finds that 50% of IT
decision-makers lack a basic understanding of what cloud cost
governance and cloud cost optimization are, and how they are
different. Businesses in this category are at risk of cloud
sprawl.
Across the board, leaders recognize the value in investing,
tracking, and managing IT spend but finding someone with the
expertise to do this effectively is a challenge. 99% of IT
decision-makers surveyed reported having a documented IT budget and
dedicated resources to manage IT spend, and yet almost half of
those surveyed do not feel these resources are skilled enough to be
effective.
Cost management in turbulent times: The COVID-19
effect
Additionally, COVID-19 has taken an already difficult task and
increased the complexity significantly, with respondents reporting
the need to address a wide array of new technology challenges. 78%
of decision-makers report new concerns around budget or cost in the
last three months, with 43% reporting concern over being unable to
fund planned projects.
Also, businesses report a 59% increase in spend on technologies
to support remote working (Virtual Desktop Infrastructure (VDI),
productivity, video conferencing/collaboration, etc.), which
required shifting budget away from planned initiatives and toward
obtaining the technology necessary to keep the business running. As
different business units seek to quickly adopt tools to maintain
business continuity, the investment in other IT priorities can get
lost in the shuffle and go untraced.
“Many businesses have found out the hard way in 2020 that their
IT systems, resources and spend tracking weren’t ready for COVID,”
said Jeff DeVerter, Chief Technology Officer – Solutions at
Rackspace Technology. “With a 59% increase spend on IT tools,
businesses have been forced to adapt quickly to a changing
environment which is why we designed the Cloud Optimization
solution, to provide customers with an end-to-end solution to help
them optimize their cloud workloads for cost and performance.”
Through the new Cloud Optimization Solution, Rackspace
Technology provides expertise and guidance to help customers
address cost and performance optimization at each step of their
cloud journey, which enables them to save money, improve
performance, and gain a team of highly specialized experts to focus
on their cloud optimization initiatives. Rackspace Technology’s
certified cloud experts take a collaborative and flexible approach
with each engagement, with the flexibility to adapt quickly to
overcome any new challenges and ensure the success of each
project.
“By choosing Rackspace Technology, clients will gain access to
an industry-leading team of multicloud experts that they can rely
on for unbiased guidance,” said Matt Stoyka, Chief Solutions
Officer at Rackspace Technology. “A team of experts is available
24x7x365 to help them optimize their cloud workloads for cost and
performance so that they can focus on what’s important – their
business.”
“By working with Rackspace Technology to modernize and optimize
our legacy IT landscape, we were able to realize 45% cost savings
and improve performance by 40% across the board,” said Scott
Strickland, EVP and CIO, Wyndham Hotels & Resorts. “Rackspace
helped us get out of the data center business and design and adopt
a multicloud environment customized to meet our performance and
cost savings goals. In working with Rackspace, we realized these
guys and gals really know what they’re talking about. It’s not just
something they put on the tin here. They’ve actually executed this
before.”
To download the whitepaper, click here.
About Rackspace TechnologyRackspace Technology
is a leading end-to-end multicloud technology services company. We
can design, build and operate our customers’ cloud environments
across all major technology platforms, irrespective of technology
stack or deployment model. We partner with our customers at every
stage of their cloud journey, enabling them to modernize
applications, build new products and adopt innovative
technologies.
Research methodologyThe research was conducted
by Censuswide, with a sample of 1516 Directors in the IT department
in the UK, US, Australia, Colombia, Mexico, Germany, Netherlands,
Hong Kong, Singapore and Middle East (CSOs, CIOs, CTOs, etc.) in
the following sectors: Public sector/ Government, Healthcare,
Media, Financial Services, Manufacturing, and Retail. Censuswide
abides by and employs members of the Market Research Society which
is based on the ESOMAR principles.
Media Contact Natalie Silva Rackspace
Technology Corporate Communications
publicrelations@rackspace.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f8b3272c-d1fe-4ded-b86a-3676fff23647
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