Piling on the Projects
Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Finding 2: CIOs are piling on the projects. The same projects that were the most popular in our 2005 spending survey remain at the top of the list in 2006.
But while companies continue to fund initiatives for business continuity, Web services, business intelligence and data integration, many more companies are jumping on the RFID and digital-identity/rights-management bandwagons.
There has also been a large increase in the number of companies pursuing Voice over IP, service-oriented architecture and technologies that enable customer self-service over the Internet or other means.
The variety of projects is remarkable: 22 of the 26 initiatives we tracked are underway at a third or more of our respondents' companies.
Along with retention, implementing all these projects helps explain why training budgets are up by 8 percent.
In all, IT priorities remain the same as 2005: data integration, infrastructure consolidation, improving customer service and processes-and above all, securing data, networks and continuity. Even though two-thirds say increasing revenues, not reducing costs, is their company's main strategy for increasing earnings, IT spending is conservative.
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