IT spending will focus on revenue growth

Merrill Lynch released survey results that show the majority of CIOs say...

Merrill Lynch released survey results that show the majority of CIOs say they believe business is improving and CFOs can begin to loosen purse strings. Separately, IBM also recently published a survey based on 456 CEO interviews in which 80% of respondents said their primary objective has shifted from cost cutting to revenue growth. Nearly three-quarters of the 100 CIOs surveyed characterize their company's business as getting better. And only 7% see things potentially getting worse. The report also noted that about 40% of CIOs are getting a little more cash from the CFOs. Thirty-four percent said they are "spending a bit more because we have not bought much for three years" and more than 20% described themselves as "ready to be aggressive in spending because we view tech as a differentiator."

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