World News: 15:00 GMT Wednesday 12th June 2019. [DiscoverOrg via Globe Newswire via SPi World News]
VANCOUVER, Wash., June 12, 2019 (GLOBE NEWSWIRE) -- announced today the results of its inaugural , measuring year-over-year shifts in corporate departmental spending, which found strong evidence that competition among U.S.-based companies will increase dramatically throughout the coming year.
The survey shows that 71% of companies have increased their expense budgets for this fiscal year, and, among those companies, increases averaged a whopping 41%.
Combining those significant budget increases with data showing that Sales departments, on average, hold the largest share of total budgets (23%), the survey indicates that competition among sales teams in 2019 will be fiercer than last year.
“These results should come as a warning to salespeople, sales department heads and CEOs everywhere that they will have to perform at absolute peak performance to stay ahead of well-funded competitors,” said Henry Schuck, founder and CEO of DiscoverOrg.
Throughout the rest of the corporate organization, Manufacturing/Operations/Production departments represented the second-largest share of overall budgets, at 21%, followed by Marketing at 16%, IT at 11%, Accounting/Finance/ Procurement at 9% and Human Resources at 7%.
Supporting the sales effort, Marketing department spending will also increase, but both small and large companies will increase that spending at about the same rate (9% and 11%, respectively).
Other departments are similarly dedicating sizable percentages of their budgets to technology spending: Manufacturing/Operations/Production (19%), Marketing (15%), IT (13%), Accounting/Finance/Procurement (12%), Engineering/R&D (12%) and Human Resources (6%).
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Globe Newswire: 15:00 GMT Wednesday 12th June 2019
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