Walmart (NYSE:WMT), the world's largest retailer, has now topped the list as the world's biggest IT spender.
According to a recent IDC report, Walmart was the only retailer to make the top five on a list of companies that in total spent approximately $895 billion on technology in 2014, reported ZDnet.
The report breaks the spending down into five categories, including hardware, software, IT services, telecom services and internal IT spending. Most of the companies spent about one-third of their allocated technology funds on internal IT and telecommunications staff salaries.
Though an exact amount was not specified, the report showed that most companies increased IT spending in 2014 from 2013.
"When it comes to IT innovation, the world's largest companies are often criticized as being risk-averse, sluggish and siloed," Jessica Goepfert, program director of IDC's global technology and industry research organization, told ZDnet. "However, there is no denying that the IT budgets of larger companies are, well, larger."
Last week, Greg Foran, CEO of U.S. operations at Walmart, laid out the key strategic initiatives for the big-box retailer moving forward, which included a continued focus on omnichannel growth to garner long-term success.
-See this ZDnet article
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