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Rackspace Technology Announces Results of Global Cloud Budget Survey, Uncovers the Hidden Complexities of IT Spend Management

Written by Customer Service on . Posted in Public Companies.

SAN ANTONIO, Aug. 19, 2020 (GLOBE NEWSWIRE) — 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

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