Companies Spending More On Tech Services Due To Remote Work
The Coupa Business Spend Index (BSI) has been volatile over the past several months as the pandemic shredded business confidence and sent budgets into a downward spiral. Some business spending has barely been touched at all, and has even increased.
It's true that the nature of the spending has changed. Spending on travel has pretty well dried up.
However, companies all across the nation have made a significant investment in technology to allow employees to work from home, and make their working from home faster and more efficient. This has caused tech spending to be surprisingly robust, and as tracked by Coupa, now stands at 82.8, which is slightly higher than it was last quarter.