Wal-Mart Stores was the largest IT spender worldwide in 2014, said IDC.
Bank of America placed second, followed by Citigroup, AT&T, and JPMorgan Chase & Co.
Nine out of ten spenders increased their IT spending from 2013 to 2014.
These companies allocate about 1/3 of their technology spending to internal IT and telecommunications staff salaries and benefits.
Among the top ten spenders, a combination of customer-facing initiatives, enterprise focused projects and third platform technology adoption and advancement.
IDC recommends vendors should listen to their feedback, respond and react accordingly. Knowing the client’s industry is table stakes; to become more embedded in their business and make a significant impact, the conversations between vendor and client must change to be process and outcome focused.
“When it comes to IT innovation, the world’s largest companies are often criticized as being risk averse, sluggish and siloed,” said Jessica Goepfert, program director of IDC’s Global Technology and Industry Research Organization. “When acknowledged and appreciated, marquee organizations can be loyal, serve as references for industry peers, and also refer business to their major vendors.”
IDC covered more than 2,600 business entities for this research. The IT budget and spending for each company are estimated with spending segmented into five technology categories: hardware, software, IT services, telecom services, and internal IT spend.
The world’s largest companies spent $895 billion on technology in 2014.