Spending on e-business technologies will drop to three percent of revenue in 2002 from an average of 3.5 percent in 2001, according to a study released by Forrester Research Inc, Cambridge. The study, which took the pulse of about 900 high-level information technology executives and business decision-makers at 3,500 companies businesses with more than $1 billion in revenue, found that the average 2002 e-business technology budget is $29 million, compared with $41 million in 2001. It also found that business executives expect a more significant drop in spending than their IT colleagues do. The study said that compared with 2001, 23 percent fewer companies will consider purchasing hardware for servers, networks and data storage. Meanwhile, fewer than half the companies surveyed will consider purchasing enterprise software for applications such as customer relationship management, enterprise resource planning, supply chain and procurement in 2002.