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Technology procurement offers spark of optimism
The continuation of many IT procurement projects is offering technology companies cause for optimism.
Whilst the financial and construction sector have issued a series of warnings over profits in recent months as the economic slowdown has taken hold, the technology sector has remained relatively robust.
And a leading analyst argues that reliance of IT in the workplace means that spending will not be cut as it was in the 2001 downturn.
“Larger contracts, from procurement to completion, can span many months or years,” Gareth Evans, an analyst at Investec Securities, told the Financial Times.
“Companies have not stopped their IT projects mid roll-out but continued with them.”
Evans did, though, warn that this would not carry on indefinitely if the slowdown continued.
"..as these older projects come to an end, attention will move to new projects, which we believe managers will be unwilling to commit to in the current climate," he said.
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