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March 17, 2005 European Financial Services IT Spending Profileby Manuel Ángel Méndez with Andrew Parker, Kim Le Quoc, Thomas Mendel, Ph.D. |
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Executive Summary
Financial services companies will be very cautious about spending money on IT in 2005. Despite finance firms outstripping companies in other sectors during 2004 — with up to 8.4% of their revenues dedicated to IT — these companies will decrease their IT spending in 2005 by 2.1% — quite a significant amount. In this challenging environment, IT execs will focus on finishing existing infrastructure consolidation projects and looking at additional investments in two areas: enterprise mobility and data center automation. Sixty percent of the execs surveyed plan to invest in VPNs this year, and technologies like server virtualization and storage information life cycle management will also be very high on the agenda. To succeed with these priorities, IT departments will need to focus on generating more new IT investment budget for critical business objectives like customer acquisition and retention, and for key IT initiatives like configuration management.
This is an excerpt
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