TechnologyFDs continue to invest in technology

FDs continue to invest in technology

More than two-thirds of financial directors continue to invest heavily in IT with web and mobile-based applications seeing most of the money.

Of 100 FDs from varying business fields and sizes questioned on their IT budgets, 69% said they were continuing to invest heavily in technology, according to research group ICM.

‘In the eyes of the board, IT is continuing to develop as an essential part of any business strategy,’ said Graham Walter, UK managing director of Cognos, the business intelligence group for whom the research was carried out.

Walter stressed that investment for the sake of it was not the key, but that making use of the information it provided was paramount. ‘Never has it been more important for IT and financial directors to make shrewd technological investments based on the speed of return of investment.’

According to ICM, 46% of companies interviewed said that they would be looking to invest in mobile and web-based applications.

But IT managers provided contrary experiences. ‘I don’t think that commerce and industry any longer have a choice,’ said the IT group director of a northern chamber of commerce. ‘Investing in IT today is like investing in steam engines during the industry revolution – businesses have to invest in IT.’

Another IT manager blamed Microsoft licence hikes and a ‘sensible attitude’ for not investing further. ‘Sitting on a cash mountain, we don’t have to cut back, but we don’t have to waste money either,’ he said.

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