IT spending grows in 2005

IT spending grows in 2005
Tags: Bank / Credit Union, Security, Software
August 21, 2005

Boston Business Journal: Investments in information technology have been on the rise since the beginning of 2004 and have continued to grow, according to the U.S. Department of Commerce. In the first quarter of 2005, IT investments were up 11 percent from the previous year. This growth was initially caused by the need for companies to update equipment and software, but now attitudes are beginning to change. Business leaders are looking more and more to IT to increase productivity and stay competitive. In the financial industry, security has been a major factor driving the increase in IT spending.