Wednesday, September 29, 2004

Survey of CFO's Finds Value of Information Technology Goes Well beyond Regulatory Compliance

As businesses move beyond cost reduction and toward a growth agenda in 2004, Capgemini US LLC, a global leader in consulting, technology and outsourcing, found that prudent IT investments can help achieve balance sheet objectives, service level improvements, risk mitigation and management, performance management and cost leadership. According to a Capgemini survey of the more than 200 finance & technology executives attending CFO magazine's IT Value Conference, four in ten (40%) said their CFO's top priority in supporting strategic IT investment to meet business profit and growth goals was moving toward a "variable cost structure and adaptive IT architecture to change quickly to shifting business needs."

Nearly half of respondents (43%) indicated the best example of CFO/CIO collaboration to drive success throughout the organization is "using IT investment to break down functional silos in order to create process-driven, cross-functionally aligned enterprises," compared to another three in ten (32%) who pointed to the creation of a Portfolio Management Office approach to enterprise transformation. In addition, a solid majority (59%) of respondents indicate that organizations are spending what is needed to meet all compliance needs as opposed to imposing cost controls (41%) to meet Sarbanes-Oxley and other regulatory requirements and mandates.

Survey of CFO's Finds Value of Information Technology Goes Well beyond Regulatory Compliance

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