Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Conclusion 02: Technologies and Projects
Not surprisingly, following the events of Sept. 11, 47% of all respondents are increasing funds for security software for 2002. And overall, the red light has changed to yellow for a variety of IT projects, especially technologies that can generate revenue, such as CRM, and strengthen the infrastructure, such as networking and communications hardware. Meanwhile, many respondents continue to experiment with cutting-edge technologies such as XML and Web services.
In 2001, 74% said they were delaying or deferring projects, technologies or services. This year, it's only 30%. And last year, 42% said projects were completely cut or eliminated, compared with only 20% in 2002.
CRM, CORPORATE PORTAL, DATA warehousing and e-business initiatives are the ones most likely to be included in 2002 budgets, ranging from 52% to 57% of respondents. In actual dollars, spending is clearly trending up in CRM, data warehousing and marketing.
forty-seven percent of IT execs are spending more on security software, more than any other technology. A variety of infrastructure categoriesnetworking, communication, storage and serverscame next, all falling in the range of 37% to 39%.
Among newer technologies, IT execs showed the greatest interest in PDAs, Web services, Gigabit Ethernet, storage area networks and XML, with 43% to 46% investing in 2002. Fifty-five percent of larger companies were also investing in storage area networks. Keep an eye out, too, for wireless networking, where investments are increasing at 30% of respondents.
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