Despite Economic Uncertainty, New voke Research Encourages Fortune
500 Companies to Invest in Information Technology
New Report by voke, inc. Analyzes the Consequences of IT Spending
Cuts in Last Economic Downturn and Offers Strategic Recommendations
SAN FRANCISCO (Business Wire EON/PRWEB ) November 17, 2008 --
voke, inc., a modern analyst firm focused on the edge of innovation,
today announced the publication of its latest market commentary,
entitled Fortune 500 Spending Required for IT Cost Savings.
Following the economic downturn of 2000 to 2003, the Fortune 500
companies that pursued short-term cost-cutting strategies such as
outsourcing and rollbacks in quality assurance found themselves ill
prepared for future opportunities. The new research suggests that those
enterprise organizations that continue to invest in critical IT areas
such as software development, virtualization, and core lifecycle
solutions will be better positioned for the next cycle of growth and
expansion.
“If we learned anything over the past eight years, it’s that IT should
be treated as a competitive business advantage and not as a cost
center,” said Theresa Lanowitz, founder of voke, inc. “Slashing IT
budgets in this environment perpetuates the mentality that there’s never
enough time or money to do it right but always enough time and money to
do it over. While some cuts may be necessary in the short term, we’re
advising our clients to be highly prescriptive and instead invest in
application lifecycle innovations to deliver strategic business value.”
Among some of the key findings of the report:
-
The Danger of CFO Driven Technology Decisions — Following the
last downturn, CFOs took back the reins of IT purchasing. The impact
of this trend still continues to be felt;
-
Requirements Are Key — Solid requirements gathering
represent the building blocks for successful software implementations.
Accelerating and streamlining the requirements process will contribute
to significantly higher project success rates;
-
Reap ROI from Software Production Management — Leveraging the
latest innovations in application lifecycle management can
significantly reduce development costs and improve delivery times;
-
Invest in Virtual Lab Automation — The virtues of
virtualization are well documented but less known are the benefits
that can be realized by deploying virtual lab automation technologies
to streamline the software testing process; and
-
Jettison Homegrown Tools in Favor of Commercial Solutions — IT
organizations that have grown too reliant on their own homegrown
software tools will be at a disadvantage compared to those that
embrace commercially developed, non-proprietary solutions.
To download a complete version of the research, visit www.vokestream.com
and request a membership.
About voke
Founded in 2006, voke, inc. represents a new model in thought leadership
based on fluid collaboration, discussion, and real-time interactions to
deliver strategic advice in technology markets. By communicating,
collaborating, and understanding the impact technology has on the world
around us, voke delivers market analysis, trend observation, and
insight. Companies of all sizes, financial firms, and venture capital
organizations turn to voke to harness strategic marketing, independent
and impartial market observations and analysis to move markets beyond
the status quo. For more information about voke, visit www.vokeinc.com.
Targeted memberships in the vokeStream community are available for the
enterprise, technology vendors, press, service providers, financial
analysts and venture capital teams. Visit www.vokestream.com
to request a membership.
See the original story at: http://eon.businesswire.com/releases/economic_downturn/fortune_500/prweb1627564.htm
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