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A Customer Perspective
21-Sep-2016
North America
Customer Research
9AC0-00-2D-00-00
TE03642-GL-CR_18994
The state of the finance industry is always changing as the economy becomes increasingly global. Digital transformation is inevitable in this industry, creating opportunities for IT companies over the next few years. This study is derived from a survey of IT decision makers around the world across multiple industries. It provides insightful information on what drives investment in IT solutions, the IT-related challenges that organizations face today, and most importantly, plans for IT budgets. Technologies covered include Enterprise Mobility Management, Social Media Management & Marketing Tools, eCommerce/mCommerce, Unified Communications & Collaboration, Infrastructure and Data Centers, Big Data and Analytics, Digital Marketing, Customer Experience Management, Cybersecurity, Internet of Things (M2M), ERP/Supply Chain Management/HR Management. There is section on Internet of Things that explores drivers, challenges, and different phases of implementation. End user companies will be able to benchmark themselves with regard to IT investments while IT companies will learn how to gain a competitive advantage over the next few years.
Excerpts from the study:
•The right strategy for this industry would be to embrace the new fintech technologies to speed up processes and deliver on customer service. Big banks can leverage big data with their vast client base; they can offer a valuable service by understanding customer needs not only with a list of questions, but by researching customer history, evaluating their emotions and identifying their true goals.
•Respondents that gained the highest revenue growth focused on aligning IT with business strategies; this has been a growing trend that has clearly had a positive impact on revenues.
•Companies with the strongest growth rates invest in IT to gain a competitive advantage and boost creativity and innovation.
•The top IT challenges for respondents are dealing with security threats, ensuring network stability and reliability, and aligning IT with business strategies.
•This year, the top driver for IT investments is the need to reduce operational costs—by a wide margin. But in two years, financial firms will also be focused on expanding into new markets, boosting creativity and innovation, and gaining a competitive advantage.
Today, the most commonly deployed IT tools focus on cyber security, infrastructure and data centers, and social media marketing and management tools. The Internet of Things (IoT), enterprise mobility management (EMM), and unified communications and collaboration (UCC) will get the biggest investment boost in two years
Research Objectives
Survey Methodology
IT Decision Maker Profile
Respondent Jobs Titles
Organization’s Revenues Growth and Margin
The Next Generation of Disruption in Financial Services
Fintech Trends
Fintech Trends (continued)
Summary of Major Findings
Summary of Major Findings (continued)
Summary of Major Findings (continued)
Top Challenges for IT
Top Challenges for IT by Size of Organization
Top Challenges for IT by Region
Top Challenges for IT by Industry Sector
Top Challenges for IT by CEO and CIO
Top Challenges for IT by Organization’s Revenue Growth
Top Challenges for IT by Organization’s Margin
Top Drivers for IT Investment
Top Drivers for IT Investment in 2018 by Size of Organization
Top Drivers for IT Investment in 2018 by CEO and CIO
Top Drivers for IT Investment in 2018 by Organization’s Revenue Growth
Top Drivers for IT Investment in 2018 by Organization’s Margin
Plans for investment in IT
Top Technologies Impact on Revenues
Top Technologies to Impact Revenues by Size of Organization
Top Technologies Impact on Revenues by Region
Top Technologies Impact on Revenues by Business Type
Top Technologies Impact on Revenues by Job Title
Top Technologies Impact on Revenues by Organization’s Revenue Growth
Top Technologies Impact on Revenues by Organization’s Margin
Top Technologies That Positively Impact Cost Reduction
Top Technologies That Positively Impact Cost Reduction by Size of Organization
Top Technologies That Positively Impact Cost Reduction by Region
Top Technologies That Positively Impact Cost Reduction by Business Type
Top Technologies That Positively Impact Cost Reduction by Job Title
Top Technologies That Positively Impact Cost Reduction by Organization’s Revenue Growth
Top Technologies That Positively Impact Cost Reduction by Organization’s Margin
Top Security Concerns
Top Security Concerns by Size of Organization
Top Security Concerns by Region
Top Security Concerns by Business Type
Top Security Concerns by Job Title
Top Security Concerns by Organization’s Revenue Growth
Top Security Concerns by Organization’s Margin
Importance of mCommerce
The Internet of Things Deployment Stages
The Internet of Things Deployment Stages by Business Type
Top Concerns About the Internet of Things
Drivers for Investment in Internet of Things
Best Chip/Module Vendor for the Internet of Things
Best Devices Vendors for the Internet of Things
Best Networking Provider for the Internet of Things
Best Platform Provider for the Internet of Things
Best Systems Integrator for the Internet of Things
Influences for Selecting a Cloud Provider
Percentage of Storage Moved to the Cloud
Percentage of Applications Moved to the Cloud
Value of Cloud-Based Solutions Among Users
Satisfaction with Cloud-Based Solutions
Barriers to Adoption of Cloud-Based Solutions
Use of Mobile Devices
Support for Mobile Operating Systems
Enforcing BYOD Policies and Expectations for Future
Organization’s Approach to IT Investments and its Competitive Assessment
Organization’s Approach to IT Investments by Organization’s Revenue Growth
Organization’s Approach to IT Investments by Organization’s Margin
IT Solutions Usage by Technology Adoption
2015 IT Budget in Relation to Organization’s Revenue
2015 vs 2016 IT Budget Allocation
Expected IT Budget Change in 2017
Percentage of IT Budget Consumed by Top Three Communications Suppliers
Percentage of IT Budget Consumed by Small to MediumCommunications Suppliers
CAPEX Vs. OPEX Spending
Legal Disclaimer
The Frost & Sullivan Story
Value Proposition: Future of Your Company & Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy
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Excerpts from the study:
•The right strategy for this industry would be to embrace the new fintech technologies to speed up processes and deliver on customer service. Big banks can leverage big data with their vast client base; they can offer a valuable service by understanding customer needs not only with a list of questions, but by researching customer history, evaluating their emotions and identifying their true goals.
•Respondents that gained the highest revenue growth focused on aligning IT with business strategies; this has been a growing trend that has clearly had a positive impact on revenues.
•Companies with the strongest growth rates invest in IT to gain a competitive advantage and boost creativity and innovation.
•The top IT challenges for resp
| Deliverable Type | Customer Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Melanie Turek |
| Industries | Telecom |
| WIP Number | 9AC0-00-2D-00-00 |
| Keyword 1 | Digital Transformation in Finance |
| Keyword 2 | Digital Transformation in Insurance and Banking |
| Keyword 3 | Digital Transformation for Insurance Industry? |
| Is Prebook | No |
Navigating an Era of Digital Transformation in Finance, Insurance and Banking
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