Published/updated: February 2006
Compliance is clearly a business critical issue
When 100 IT Managers from the UK Financial Services sector were asked to rate the importance of compliance to their business, over 50% gave this the highest rating of 5 on a scale of 1 to 5. No one rated the importance of compliance below the level of 3.
Despite significant investment, IT capability still falls short in many areas
IT Managers confirm there have been significant demands placed on them as a result of compliance related activity over the past three years. Nevertheless, fewer than half say they are satisfied with the ability of current measures to cope with future requirements in the areas of document management, archiving and retrieval. The gap is even wider with regard to electronic messaging, where only one in twenty are fully satisfied with their capability.
Most expect the compliance related burden on IT to increase
Almost 60% of Financial Services IT Managers believe the compliance related burden on IT will increase in the future, with a further 22% saying it will not let up. This leaves just one in five respondents believing they are over the worst.
Opportunities exist to sweeten the pill
Independently of compliance, most IT managers cite business users suffering from difficulties in locating, accessing and presenting information as part of their day to day jobs, especially when information needs to be drawn from multiple systems. Significant ongoing and planned investments in areas such as document imaging are also leading to information processing, storage and retrieval requirements. With the right approach and appropriate technologies, there are opportunities to tackle such problems and compliance simultaneously, thereby shifting activity from a defensive to a value oriented approach.
Smart companies are putting more emphasis on an architectural approach
Many have already understood that the traditional piecemeal approach to dealing with compliance issues is not the most flexible and cost effective. Looking to the future, IT Managers therefore say there will be less emphasis on application specific initiatives and point solutions, and much more on building compliance capability into the underlying IT architecture. This goes hand in hand with adopting a more value driven approach to moving forwards and leads directly to the future proofing of investments and the minimisation of future risks.
This report is free of charge. Click above to download the PDF or view the interactive e-document.
If you experience any problems during this process please contact us at;
firstname.lastname@example.org or call +44 (0)1425 626501 / 620008
By Dale Vile
With the flash storage market developing rapidly it’s important to understand the nature of the technology. This paper looks at the role of flash storage in the modern data centre and examines some of the practicalities you need to consider when evaluating options. ...more
By Dale Vile
By Dale Vile
Creating a more customer centric business environment has historically been hard to achieve. In this paper, we will examine how technology and market trends, together with changes in the regulatory landscape, are elevating the status of customer centricity from ‘aspirational ideal’ to ‘business critical imperative’. ...more
By Dale Vile, Tony Lock, Jack Vile
With the phenomenal rise in the adoption of smartphones, tablets and other desirable devices, many pundits predict that the direction of corporate IT will increasingly be defined by end users. But does this make sense? ...more
By Dale Vile & Tony Lock
If it has been a while since you thought about your DR measures, or a review has been prompted by a risk assessment, compliance audit, actual disaster or some other scare, it’s worth taking some time to understand what can be achieved in light of important changes that have taken place over the past few years. ...more
By Tony Lock
With the advent of digitisation, all public sector environments generate and capture a significant amount of electronic data. Against this background, this paper explores how to manage costs and risks while meeting these changing needs through ‘active archiving’. ...more
By Dale Vile
In some organisations, the tension between IT and business teams has come to a head around the topic of devices & the so called ‘Bring Your Own Device’ phenomenon.It’s time for IT and business managers to get together & start a proper dialogue about how to deal with evolving requirements. ...more