With new technology emerging, cloud computing becoming the new norm and cybersecurity threats growing exponentially, how does this impact investment management firms across the globe? To gain a better understanding of industry IT priorities, Eze Castle Integration, in partnership with Microsoft and IDG Reserach, conducted a survey of 150 senior-level executives from the United States and United Kingdom. The findings cover technology priorities, cybersecurity plans and concerns, outsourcing attitudes and trends, and IT budgeting.
Continue reading for a synopsis of our findings, or to view the full report, you can access The 2019 Global Investment Management Survey: Understanding Industry IT Priorities and Spending HERE.
IT Priorities for Investment Firms
- The study shows that small and midsized investment firms worldwide are focused on building out their IT infrastructures.
- Seventy percent of respondents surveyed indicated IT investment as their top organizational aim (24%) or ranked it among their highest priorities (46%).
- Modernizing legacy data infrastructures was also a noted priority with 49% reporting these projects are underway and 45% stating the project is planned.
Cybersecurity is a Major Concern
- Increased protection from cybersecurity threats ranked as a key driver for IT investments, with almost three quarters of respondents claiming they are very or extremely concerned about cybersecurity threats.
- Top implemented cybersecurity initiatives underway include formal cybersecurity risk management (65%), employee security awareness training (62%), establishing preventative measures (61%), and implementing cyber countermeasures (55%).
Managed Cloud and Outsourced IT Services Dominate the Sector
- Managed cloud computing and outsourced IT services were immensely popular, with 4 out of 5 respondents attesting to leveraging one or both of these offerings.
- Those that haven’t outsourced to the cloud or contracted with outside IT groups said they plan to in the near future.
- Respondents ranked the top benefits as security, cost savings, and around the clock network management.