A recent report from Celent Communications – Securities and investments IT spending. Update: navigating the new volatility – highlighted the fact that spending on information technology projects will inevitably shrink. “It now appears that the sub-prime crisis was only the tip of the iceberg in the dangerous, cold financial waters of 2008… Consequently, as financial companies recede, reorganize and seek safe harbours, IT spending and priorities take focus as firms consider their competitive position, capital base and growth prospects,” the firm writes.
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