Protecting data ‘is major concern’
Only one in five financial executives are highly satisfied with their security measures, according to a survey by Computer Sciences Corporation (CSC).
Information security was their top concern because of the frequency of security breaches, the bad publicity an attack could generate, and the growing number of audits evaluating corporate security measures, said Jerry Boltin, a senior partner of CSC Consulting.
The survey into which areas of technology cause most concern for financial executives found they consider their IT departments to be deficient in project management, communication and understanding the relationship between business and IT. One in three IT projects were considered less than successful by senior management as a result of those deficiencies, said Boltin.
Financial executives are most constrained by a lack of technology to use data analysis to improve the business performance and drive shareholder value. Only 8% said they had made substantial progress towards this goal, while 64% plan to invest in analytical and decision-support technologies this year.
The likely spending on business intelligence was remarkably high, said Boltin, with medium to large companies planning to invest $1m-15m, and the largest spending close to $100m. The main areas of focus were projects to support planning accuracy or measure business performance and effectiveness.
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