Expectations of growth in tech spending tempered by worries over security.
There has been no shortage of recent surveys trumpeting the coming wave of corporate technology spending. But in sensitive functions like treasury, there remain plenty of worries about IT security. In a new Deloitte survey, nearly half of those polled believe cloud computing and remote access technologies pose big threats.
Deloitte said more than 40 percent of respondents felt “remote internet access to corporate systems and embedded malware in computers, applications and devices,” are the greatest cyber risks they face. These executives also raised concerns about the lack of visibility their companies had into the systems security protocols of business units and vendors.
Yet despite these concerns, other surveys showed that business executives expect big growth in IT spending (see “Technology: 2010 Could Be the Year for New Investment” and “Technology: Support for Post-Crisis IT Spending Grows”). Some of executives want new efficiencies to boost their businesses, others said they would spend to be prepared for coming growth, while others said simply that their tech spending had been stalled for the past 18 to 24 months and was due for a breakout.
“Recession or no recession, corporate and IT leaders continue to see a key role for IT, especially in regard to capturing efficiencies across the enterprise,” according to a recent McKinsey survey.
But those implementing new technology in functions like treasury might have to enlist internal audit to help check processes and convince boards that the systems are secure. “Security programs need to be strengthened as it has become increasingly evident that criminals with advanced cyber skills continuously invent new and insidious ways to perpetrate criminal acts,” Deloitte said.