Survey: 86% of Partners Are Cutting Costs Despite Positive Outlook

Channelnomics research reveals strategic cost-cutting efforts among resellers and service providers amid promising IT growth projections.
The IT spending forecast for 2024 is strong. IDC predicts that global IT spending will increase by at least 4% this year, with the strongest growth expected in the United States. Despite inflation falling below 3.5% and the Federal Reserve's promise to cut interest rates this year, businesses of all types — including channel partners — are contending with rising operating costs that are eroding profitability.
As part of its annual Channel Forecast research, Channelnomics surveyed 263 qualified resellers, service providers, and systems integrators regarding their cost-cutting measures. Among the respondents, 86% are implementing some form of budget cuts or cost-saving strategies.

The figure above represents the feedback provided by partners on their co...