This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

New Survey From American Express And CFO Research Reveals Predictions For New Technology Investments

Data – and how it’s managed – is becoming increasingly important to how businesses succeed in today’s economy. More and more, companies use financial and operational data to drive business planning, discover new market opportunities, improve administrative processes, and other vital activities. In a recent survey from American Express Company (NYSE:AXP) and CFO Research, Supporting Growth with New Technologies, 96% of U.S. senior finance executives agree they will need to extract much greater value from financial and operating data in 2014. Still, executives surveyed continue to report cautious investment plans in information technology (IT), especially for newer technologies such as big data analytics and cloud storage tools.

When considering where IT improvements could offer the most value to growth plans, nearly half (48%) say cutting costs, while the other half (48%) take a more insights-driven approach, citing effectiveness through analytical tools as the most valuable way IT can contribute to growth. To that end, 40% of surveyed executives say they plan to increase real spending on IT by 10% or more over the next year. However, while many senior finance executives plan to increase IT spend, only 8% plan to increase spend by 30% or more.

"CFOs continue to seek out technology which allows them to improve business performance and increase employee productivity," said Jay Cary, Vice President, Digital, Global Corporate Payments at American Express. "Mobile in particular is leading the way – both because of CFOs’ familiarity with the technology and for the real-time benefits it offers employees. As data analysis grows in importance, we expect to see similar investments in big data analytics and cloud-based solutions.”

DEPLOYING MOBILE TECHNOLOGY

The increasing value of mobile technology is undisputed with executives looking to mobile to help employees better manage business data while on the go. Three-quarters of respondents (76%) say that their companies will need to make better use of mobile technology over the next year. The top three goals cited for mobile improvements are:

  • Providing employees with better data retrieval capabilities (42%)
  • Enabling employees to share data and make better real-time decisions (34%)
  • Providing employees with up-to-the minute access to data (30%)

While senior finance executives have these goals in mind, only 11% report having a formal, enterprise-wide plan for updating their mobile technology capabilities. The majority (70%) say they will take an ad hoc approach or simply plan to implement a general directive on mobile technology.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,198.72 -89.91 -0.49%
S&P 500 2,107.97 -9.42 -0.44%
NASDAQ 4,979.90 -28.1960 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs