Recession has not killed IT spending

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Recession has not killed IT spending

Micro Focus survey shows that CFOs will spend on existing IT systems to reduce costs, increase efficiencies

Tuesday, November 03, 2009

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NEW DELHI, INDIA: Micro Focus, a provider of enterprise application management, testing and modernization solutions, today said that organizations are far more likely to modify existing systems than introduce new ones given the global financial climate.

In a recent survey conducted by the company, which examined the link between finance and IT during the current economic downturn, it was found that financial professionals are willing to invest in existing IT systems, said a press release.

Those who took part in the survey were of the view that gains in efficiency and cost savings are the two most important measures of ROI for IT projects – areas that can be addressed by application modernization.

As organizations have focused on strategies to cut costs during the recession, IT has emerged as an important strategic differentiator, said Micro Focus.

According to the survey, 45 per cent of respondents view IT as a "critical driver of value" or a function that "actively contributes value". Additionally, 71 per cent of respondents indicated that IT will play a very important or somewhat important role in their company's competitive position following the economic downturn.

"It may have taken a global economic disaster to underscore the value of IT assets as a strategic differentiator, but organizations increasingly recognize the value IT can deliver to the bottom line," said Nick Bray, CFO of Micro Focus.

"Now that companies have trimmed more of the fat across their organizations, investment in existing IT systems stands out as a cost effective means to achieve competitive advantage. Smart organizations are aware that sound technology decisions can not only help reduce costs, but drive innovation."

The survey also reveals that 34 per cent of organizations have seen increased collaboration between business and IT during the economic downturn – a development that will enable companies to build strong IT foundations capable of supporting evolving business goals, said Micro Focus.

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