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Companies in Asia Continue to Invest Money in Innovation

Companies in Asia Continue to Invest Money in Innovation

Companies across Asia are building up their IT departments and are investing more in innovation.

There is a trend happening that puts an emphasis on innovation and creativity. Coming up with the next new idea carries more value than continuing to maintain current ones. This does not mean that companies are abandoning their current path, few would be so reckless, but there is most definitely an upswing in the percentage spent to discover new ideas.

In a recent article in The Nation, it is stated that typically, approximately 80 percent of a company’s IT budget is spent on maintenance and everyday operations, ensuring that what they are currently putting out is running smoothly and working to their specifications. However, in the 2013 study of the CA Technologies Channel Index, it was discovered that participants of the study were spending closer to 33% of their IT budget on innovation and project development.

The Index is an annual survey that tracks the partners of CA technologies. This study is intended to track the outlook for these companies as well as giving an accurate forecast for the upcoming year. This year’s study also uncovered the interest of many companies in continuing to develop their mobile applications and ways to help people maintain their mobility. It is an easy jump to conclude that continuing to adopt a positive position on enterprise mobility will do nothing but help their bottom line.

Approximately 554 companies participated in this study and many of them, particularly in the Asia-Pacific region have increased their project development budget significantly. While no one wants to abandon what they have as long as it is working for them, there is an increasing importance being placed on creating new products, processes and ideas that will ultimately lead to a new client base as well as continuing to attract their current one.

It’s not just the forward thinking companies that are coming to this conclusion.

The socio-economic development in these countries is calling for a rise in innovation that has not been seen in decades. Businesses are finding opportunities for growth, which is, in turn, providing further opportunities for jobs allowing more people to join the work force. With the rapid growth of the population and with many of them now entering the work force, finding and creating jobs is a premium goal right now.