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Financial and accounting software spending has been hit by the economic downturn, according to our research. Pat Sweet reports.
Spirit is willing, budget is weak - Part 1 | Part 2 | Part 3
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SURVEY STATISTICS
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For this survey, we spoke to organisations drawn from a wide range of industry sectors, including financial services, public sector, retail, construction, chemical and pharmaceutical and utilities.
The largest proportion (30%) are from the manufacturing sector, where accounting and reporting requirements can be complex.
The companies vary in size, with around a quarter (24%) in the £100 million to £150 million turnover bracket. Roughly half (52%) of our sample are smaller companies, with turnovers in the £10 million to £100 million range, but 6% have turnovers greater than £1 billion.
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As corporate belts begin to tighten, companies are looking to their financial and accounting systems to provide them with better management information in order to pinpoint potential cost savings. And this may include putting a brake on IT investment and soft pedalling on web development.
These are the broad conclusions of our annual survey of financial and accounting software issues.
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Conspectus 2002
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Copyright © 2002
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