Micro Focus have announced the results of a CFO survey which examins the link between finance and IT during the current economic downturn. The results indicate a willingness from financial professionals to invest in existing IT systems, revealing that organizations are far more likely to modify existing systems than introduce new ones given the global financial climate. According to the survey, financial professionals view gains in efficiency and cost savings as 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. According to the survey, 45 percent of respondents view IT as a “critical driver of value” or a function that “actively contributes value.” Additionally, 71 percent 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 percent 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.
For more information or to download the report click on the link.