Executives plan bigger IT investments

40 percent of 1,400 chief financial officers polled in a new survey are planning to increase their companies’ IT spending. Independent research firm Robert Half Management Resources conducted the survey, asking the executives, "In which one of the following areas are you most likely to invest once the economy improves?"

40 percent of the executives said that they would invest in new IT systems or upgrade existing ones once the recession subsides. Of these, 18 percent said they would spend more money on new products or service lines, 14 percent will invest in new locations or real estate, while six percent plan to proceed with mergers and acquisitions.

Paul McDonald, executive director of Robert Half Management Resources, says: "As companies emerge from the recession and become more profitable, they will begin to focus on shoring up critical business applications and technology infrastructure. 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… IT investments encompass not only hardware and software but also reflect the human resources necessary to manage these initiatives."