TECH MAY LEAD THE WAY

Survey: Economic Recovery Spending Could Flow to Information Technology

MENLO PARK, CA -- As the economy improves, chief financial officers (CFOs) will look to bolster their information technology (IT) systems, a new survey suggests. When asked where they are most likely to place their investment dollars when a recovery occurs, 40 percent of CFOs interviewed cited IT.

The survey was developed by Robert Half Management Resources, the world’s premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.

CFOs were asked, “In which one of the following areas are you most likely to invest once the economy improves?” Their responses:

New or upgraded IT systems

 

40%

New products or service lines

 

18%

New locations or real estate

 

14%

Mergers or acquisitions

 

6%

None, will not invest

 

19%

Other

 

2%

Don't know

 

__1%

 

 

100%

"As companies emerge from the recession and become more profitable, they will begin to focus on shoring up critical business applications and technology infrastructure,” said Paul McDonald, executive director of Robert Half Management Resources. “While finance executives may remain cautious about making bold new expenditures, they understand that updating their IT systems can help improve risk management, increase operational efficiency and ensure regulatory compliance.”

McDonald noted the survey showed that the largest companies (1,000 or more employees) are most likely to invest in new or upgraded IT systems (48 percent) because of the economies of scale that come from making systemwide improvements.

He added, “IT investments encompass not only hardware and software but also reflect the human resources necessary to manage these initiatives.”

About the Survey
The national study was developed by Robert Half Management Resources. It was conducted by an independent research firm and is based on more than 1,400 telephone interviews with CFOs from a random sample of U.S. companies with 20 or more employees. For the study to be statistically representative and ensure that companies from all segments are represented, the sample was stratified by geographic region and number of employees. The results were then weighted to reflect the proper proportion of employees within each region.

About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level accounting and finance professionals to supplement companies’ project and interim staffing needs. The company has more than 145 locations worldwide and offers online job search services at www.roberthalfmr.com.

 


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