Monday, July 28, 2008

Adapting to the present situation

While our economy is doing better than the pundits and talking heads would have us believe, we're still dealing with the realities of a more challenging environment. InformationWeek released a report that shows how some technology leaders are dealing with market conditions, and I find the news quite encouraging.

The majority of respondents are either holding steady with IT spending (28%) or increasing (33%). That means that less than 40% of the industry is actually reducing technology investments over last year. Of the projects that are being cut, the respondents' remarks suggest that they generally be described as really good ideas, but not critical to the firm's success. This is supported by the fact that only 23% of the respondents say that customer-facing projects are the targets of cutbacks. Rather, the main targets seem to be new hires and infrastructure upgrades. Of course, since personnel costs are traditionally the biggest line item on any departmental budget, it makes sense to hold the line there. And infrastructure upgrades are not as critical now as they were 3-5 years ago, when so many changes were taking place in that space.

The opportunities in this market, then, are competitively priced software development focused on customer-facing applications. So that's where I am targeting my efforts.

For more information, read the article: How CIOs Are Dealing With A Tough Economy

1 comment:

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