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Ever since Y2K proved to be a non-event and the dot-com sector started to implode, information technology (IT) budgets have been feeling the finance department’s increasingly sharp budgetary blade. In the beginning of 2002, the carnage to IT budgets looked as if it would be particularly bloody, but the hemorrhaging subsided as the year progressed. Spending ended up flat to slightly depressed from 2001 levels, which of course were already a far cry from the double-digit growth rates of the late 1990s.

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