FRAMINGHAM (10/03/2003) - In 2000, the CIO Magazine Tech Poll reported a 22 percent annual growth rate in IT budgets. The same poll has recorded growth rates below 2 percent from January 2002 to the present. For the past two years, chief information officers (CIOs) have persistently predicted a resurgence in IT spending. But the harsh reality is that chief financial officers now dictate IT spending, and they will throttle IT budgets until there's hard evidence that IT delivers profits.
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