Companies are spending 20.3 percent of their 2003 information technology budgets on e-business initiatives according to a third annual study by Line56 Media and consulting firm A.T. Kearney. Comparison with prior Line56/A.T. Kearney research (2001: 17.5 percent; 2002: 19.3 percent) shows continuing growth of e-business initiatives relative to overall IT expenditure.

Line56 and A.T. Kearney surveyed companies with greater than US$250 million in revenue and found that although they are currently spending an average of $42.6 million on e-business initiatives, their investments are being made behind user demand. The study also found e-business spending is expected to grow at 2.5 percent in 2004.

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