Executives not worried about tech shortfalls, survey finds

The survey, based on the response of 108 officers, half of whom were CIOs and half were CEOs at various companies and institutions such as banks and health insurers across the country.

By MATTHEW KRIEGER
June 6, 2007 07:25
1 minute read.

A high percentage of chief executive and chief information officers at some of the country's leading businesses will not be improving their companies' data systems to meet regulatory demands, nor will they be approving orders to solve problems that arise in their Information Technology systems, according to the results of a poll conducted by BDI Coface and the information technology company Matrix. The survey, based on the response of 108 officers, half of whom were CIOs and half were CEOs at various companies and institutions such as banks and health insurers across the country, also revealed that 52 percent of CEOs and 13% of CIOs don't recognize the importance of Web 2.0, while 55% of corporate managers feel that the Internet has had the biggest impact on how their company conducts business. Additionally, most think that in the coming years cellular technologies will dictate the world's business pulse. Despite the fact that 86% of CEOs and CIOs recognize that there is an immediate need to update their company's Information Technology branch to meet new international regulations, such as the Basel II banking law, detailing how information must be stored and organized, only 65% will do so in the near future. Additionally, only 60% of CEOs and 59% of CIOs said they expect an increase in their companies' information technology budgets in 2008. "One thing that is clear from the survey is the fact technology systems and managers of those systems have become an integral part of doing business, as almost every business transaction carried out today relies on the full support of a technology system," said Gili Ron, assistant CEO of marketing at Matrix. The survey also revealed that 67% of banking CEOs believe that a good technology system will lead to greater business success and attract new customers, while only 11% of CEOs in the commerce sector said that business success was dependent upon their technology system. Surprisingly, said the report, only 38% of CEOs in Israel's hi-tech field felt that business success is dependent upon the IT system the company operates. More than 80% of IT managers polled said they believe information systems are of primary importance when making company budgeting decisions, while only 51% of CEOs felt that IT needed to be considered. The survey was conducted ahead of this month's MatrixWorld conference, whose focus will be "The Information System as a Managerial Tool."


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