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
TheStreet Open House

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

BIG DATA AND CLOUD INVESTMENTS LAG BEHIND

Respondents appear to be less certain of how their companies could best use big data and cloud technologies. Perhaps in a nod to the complex and evolving field, only a quarter (23%) of respondents say that making better use of big data analytics will be among their companies’ priorities in 2014. And while 51% of the executives surveyed see opportunities to gain competitive advantage using big data analytics, a surprising 40% do not plan to increase spending in this area over the next year. For now, many finance executives are concentrating on improvements to current platforms and integration with existing tools before taking larger, calculated leaps. In fact, more than half (59%) of respondents say they still consider big data analytics to be a supplementary form of analysis, and that companies should develop their core analytical capabilities first.

Similarly, uncertainties about the use and development of cloud technology continue to be a barrier to investment. Less than a third (28%) of respondents say their companies will increase their use of cloud computing in 2014. This is likely due to the fact that 48% still cite concerns with data security, while another third voice concerns about third-party dependencies. Still, senior finance executives recognize that cloud technologies can offer significant benefits to their companies, including the following:

  • Greater flexibility (56%)
  • Cost savings (37%)
  • Improved productivity (37%)
  • Time savings (26%)

Senior finance executives do see hope for greater investment in cloud technology in the future, though. More than half (57%) think that five years from now, data-security concerns are unlikely to pose a barrier to adopting cloud-based financial systems.

ADDITIONAL FINDINGS

IT changes companies are most likely to focus on implementing in 2014:

  • Integrating existing information systems (44%)
  • Acquiring or deploying new applications or tools (41%)
  • Upgrading existing systems (32%)

About the Survey

CFO Research Services surveyed 154 senior finance executives based in the U.S. (100 responses) and in the U.K. (54 responses). Respondents represent companies from a wide range of industries. Company revenues ranged from less than $100 million to more than $500 million in annual revenue. The research program, which included an online survey and interviews with senior financial executives, was completed in September 2013.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,086.73 +15.51 0.09%
S&P 500 1,980.56 +2.76 0.14%
NASDAQ 4,513.8140 +7.9620 0.18%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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