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IT Budget
The IT budget is a business's total allocation of IT spending over 12 months. This will include categories of software, hardware, and labor. The budget might include allocations for managed services, if any IT tasks are outsourced, hosted services, and/or in-house IT staff.
What Small and Midsize Businesses Need to Know About IT Budget
Among SMBs, the largest areas of IT budget allocations typically include finance and accounting software, cloud computing, data security, and digital marketing.
Related terms
- Haptics
- WAN (Wide-Area Network)
- Intranet
- SLO (Service-Level Objective)
- Security Orchestration, Automation and Response (SOAR)
- Scalability
- Service-Level Agreement (SLA)
- Software as a Service (SaaS)
- Identity and Access Management (IAM)
- Data Center
- Augmented Reality (AR)
- Synchronous
- Multitenancy
- Chief Information Officer (CIO)
- IT Services
- Authorization
- Service-oriented Architecture (SOA)
- Platform as a Service (PaaS)
- Managed Service Provider (MSP)
- Security Information and Event Management (SIEM)
