Where your tech dollars are going
November 18, 2014 11:55 AM
Overview
Tech spending on the rise
Nearly two-thirds of respondents said their benefit agency increased spending on technology this year and a majority said their firm will increase spending on technology in 2015.
Larger firms spending more
A majority of large agencies reported spending more than $1 million on technology in 2014, while mid-size agencies most often reported spending between $50,000 and $99,000, and a majority of small agencies reported spending less than $50,000 on technology.
Client management system is top concern
The No. 1 technology investment firms plan to make next year is with their client management system.
Smaller firms moving to the cloud
A majority of mid-size firms and one-third of small firms said they plan to move more of their applications to a cloud-based system next year.
Utilizing smartphones
A large majority of firms, 77.4%, use smartphones, but the smaller brokerages are using them more than large firms.
Also see: Tech spending spree
Also see: Tech spending spree
