Business Strategy: IT Executives Survey Results - Can 2010 Get Here Soon Enough? : Market Research Report

Business Strategy: IT Executives Survey Results - Can 2010 Get Here Soon Enough?

Published by: IDC

Published: Nov. 9, 2009 - 17 Pages

Table of Contents
Financial Insights Opinion

In This Report
Methodology
Situation Overview
Survey Respondent Demographics
IT Investment
Security
Economic Impact on IT Spend
Top IT Vendors
Criteria for Choosing IT Vendors
Future Outlook
Essential Guidance
Actions for Financial Institutions
Actions for Vendors
Learn More
Related Research
Synopsis
Table: Respondents by Influence over IT Budget
Table: Respondents by Level Within Organization
Table: Respondents by Title
Table: Currently Implemented IT Solutions (% of Respondents)
Figure: IT Investment Drivers
Figure: Importance of Investing in Specific IT Solutions
Figure: Planned IT Investments Through 2010
Figure: Top Banking Security Initiatives by Tier
Figure: Economic Impact on IT Spending by Tier
Figure: Economic Impact on IT Staff by Tier
Figure: Actions to Cut IT Spending by Tier
Figure: Top 3 IT Vendors
Figure: Importance of Criteria in Choosing Top 3 IT Vendors

Abstract

This IDC Financial Insights report discusses the results from IDC's 2009 Annual Verticals Survey. As IT spend among North American banking institutions will slip to $51 billion in 2010, financial institution executives are sharply focused on maximizing IT budgets that include delaying new and innovative IT projects in favor of essentials such as compliance and fraud management. The survey findings from 348 banking institution IT executives and managers provide insight to both financial institutions and vendors on how financial institutions are managing IT budgets through this economic crisis.

"In the wake of IT staff reductions and delayed projects, IT investment priorities are focusing on improving sales, retaining existing customers, and containing costs," according to Karen Massey, senior analyst, Consumer Banking, IDC Financial Insights. "However, financial institutions, and the vendors that serve, must keep innovation on the strategic radar to meet the needs of increasingly complex and demanding customers as the economy recovers."

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