More IT Issues Facing CFOs

Oct. 15, 2007
According to a recent study, "Technology Issues for Financial Executives":

Only about one in 10 CFOs report making significant progress in core IT areas during the past year.

CFOs cite project management, understanding the business/IT relationship and overall communication as areas of IT departmental deficiency.

Roughly 25% of respondents expect the financial program/project share of total IT spending to increase.

Nearly half (45%) report an increase in the cost of SOX compliance.

Approximately 20% of organizations with more than $1 billion in revenue anticipate outsourcing some aspect of their IT in the coming year. However, most of that is with existing providers, as only 5% plan to enter into an initial offshore relationship in the near future.

More than half (52%) indicated constraint in discretionary IT spending. The reasons cited vary, but the core issue is earnings pressure.

See Also

Popular Sponsored Recommendations

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!