Roughly 7 in 10 large enterprises consider digital initiatives to be either the “most important factor” (14.5%) or “of major importance” (55.1%) to their financial success in the next 5 years, finds Tata Consultancy Services (TCS) in a recent study. The survey – fielded among 820 respondents at companies in 4 major regions with mean revenue of $25.8 billion – finds that enterprises are on average spending more than $100 million on digital initiatives. So where’s the money going?
In terms of business functions, the marketing department will be getting the largest share (22.9%) of spending allocations between now and 2017, with this share highest in North America (25%). Sales (17.7%) is next, followed by customer service, support (after-sale; 15.6%) and R&D (14.5%). Read the rest at MarketingCharts.