Bloomberg Tech survey finds CIOs shifting to managed solutions

Press release
Published May 24th, 2011 - 05:44 GMT
Bloomberg
Bloomberg

Leading financial technology executives say they want innovations that allow them to process more data more quickly, cheaply and reliably, according to results of a Bloomberg survey revealed today. The poll was taken at Bloomberg LINK's first Enterprise Technology Summit, an invitation-only seminar that brought together more than 100 Chief Information Officers (CIOs) and technology decision-makers from major financial services firms.

The executives were asked 10 questions on key technology trends and the results included:

Spending - 76 percent said they will expect to increase information technology (IT) spending over the next 12 months; only 17 percent said they will decrease and 7 percent said spending will remain the same

Managed Solutions - 55 percent said they are shifting more of their overall capital expense to managed solutions; with only 33 percent saying no and 12 percent saying they don't know

Compliance - 84 percent said they have increased spending on regulatory and compliance systems in the past two years; only 5 percent decreased and 11 percent said spending remained the same.

Cloud - When asked what infrastructure investment areas have yielded the most return on investment (ROI) in the last year, cloud computing received 45 percent of the responses, another 33 percent said low-latency trading and 23 percent said complex event processing (CEP).

"Bloomberg is expanding into enterprise technology services," said Bloomberg President Dan Doctoroff, who gave opening remarks. "Our customers are facing increasing pressure on returns, so we are using our expertise, products and new partnerships to help them lower costs and improve their IT infrastructure's efficiency and effectiveness."

Shawn Edwards, Bloomberg Chief Technology Officer, said, "Technology executives are under enormous pressure to innovate and solve problems. To meet those challenges, we are providing clients with our expertise and letting them leverage the same infrastructure that powers the Bloomberg Professional service, the world's leading platform used by more than 300,000 business and financial professionals globally."

Speakers at the summit discussed key advancements in cloud computing, managed solutions and security during panels moderated by Bloomberg executives and staff from Bloomberg Businessweek, Bloomberg News and Bloomberg Television.

For more information on Bloomberg's Enterprise Products & Solutions email [email protected] or visit http://www.bloomberg.com/enterprise.

Background Information

Bloomberg

Bloomberg is the world’s most trusted source of information for financial professionals and businesses.

Bloomberg combines innovative technology with unmatched analytic, data, news, research, display and distribution capabilities, to deliver critical information via the Bloomberg Professional service and multimedia platforms.

Bloomberg's media properties span television, radio, digital and print, making up one of the world’s largest news organizations with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries. 

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