Benchmarking IT spending for the finance industry

Everyone''s spending, but are you spending enough? IT consultants seek to answer the question for you.
January 08, 2001
Back when the Y2K bug loomed large on the horizon and threatened to thrust us back into the dark ages, spending on information technology was at an all-time high. Many industry analysts at the time predicted that IT budgets would drop dramatically in 2000 as Y2K taskforces were dismantled and contract workers laid off.

While spending did decrease, it wasnt by anywhere near as much as might have been expected. According to a study by Cap Gemini Ernst and Young, IT budgets that had tripled in the lead-up to the millennium only dropped by 25% in 2000.

One of the major reasons for the smaller decline is competitive pressure arising from the...

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