Cutting costs will be a priority in 2009. Rationalization, modernization and vendor negotiation will be among the top cost-conscious IT strategies. IT managers who can cut costs without axing people will be golden in 2009. Why It's Important: TowerGroup estimates that Wall Street's 2009 IT spending will be 14 to 16 percent below 2008 levels. Celent projects a dismal 30 to 40 percent drop in new IT investment for the industry in 2009. But, "Part of that is the fact that there are fewer companies - Bear Stearns and Lehman Brothers are not there anymore," explains Celent senior analyst David Easthope. He predicts that front-office IT will be hurt the most. "When business growth slows, the front office loses its high-priority status," he notes. Yet there are opportunities for IT heroism. "If you can tell the COO you can cut 20 percent of your cost by moving over to a single platform quickly and efficiently, you're a hero," Easthope says.
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