Investment industry targets efficiency for 2009

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Investment industry targets efficiency for 2009

Karl Flinders

IT professionals in financial services are turning to virtualisation, having identified IT efficiency as a top priority this year, according to a survey carried out by communications provider Colt.

A total of 83% of respondents from across the financial services sector, including investment banks and stock exchanges, said using server virtualisation software in the datacentre was a priority. Server virtualisation software enables multiple servers to run on one piece of hardware.

For example, investment management company Standard Life has saved £1m per year by introducing server virtualisation software from Vmware to reduce the space taken up by its datacentre. It has reduced its energy costs by £300,000 per year through the same technology.

The Colt research found that 42% said budgets this year are the same as last year.

Other key findings for 2009 were:

  • 75% expect utility and cloud computing to be important in the next two years
  • 83% said cutting costs, and security and regulatory compliance were top priorities
  • 75% said flexible and mobile working was important
  • 80% said green IT is a less important objective

Technology such as virtualisation will help IT departments cut costs while cloud computing and mobile technology will help improve ways of using IT already in place.

Terry Quigley, head of Colt's Financial Services team, said, "Our latest customer poll clearly shows that organisations will be focusing solidly on ways to optimise their current IT, as well as using IT to streamline their processes and ways of working."


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