CIOs Shifting to Managed Solutions and Increasing IT Spend

Bloomberg’s enterprise solutions build on the company’s core strength, the leveraging of technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Law, Bloomberg Government and Bloomberg New Energy Finance, the company provides data, news and analytics to decision makers in industries beyond finance. According to results of a recently released Bloomberg survey, leading financial technology executives say they want innovations that allow them to process more data more quickly, cheaply and reliably.

Bloomberg’s recent survey was taken at Bloomberg LINK’s first Enterprise Technology Summit that brought together more than 100 Chief Information Officers (CIOs) and technology decision-makers from major financial services firms.

The executives were asked 10 questions on key technology trends and the results included:

Spending: 76% said they expect to increase information technology (IT) spending over the next 12 months. 17% said they will decrease spending. 7% said spending will remain the same.

Managed Solutions: 55% said they are shifting more of their overall capital expense to managed solutions. 33% saying they were not and 12% said they do not know.

Compliance: 84% said they have increased spending on regulatory and compliance systems in the past two years. 5% decreased spending and 11% said spending remained the same.

Cloud: When asked what infrastructure investment areas have yielded the most return on investment (ROI) in the last year, cloud computing received 45% of the responses, 33 percent said low-latency trading, and 23% said complex event processing (CEP).

Bloomberg President Dan Doctoroff, who gave opening remarks at Bloomberg LINK’s first Enterprise Technology Summit said, “Bloomberg is expanding into enterprise technology services. Our customers are facing increasing pressure on returns, so we are using our expertise, products and new partnerships to help them lower costs and improve their IT infrastructure’s efficiency and effectiveness.” In addition, Shawn Edwards, Bloomberg Chief Technology Officer, said, “Technology executives are under enormous pressure to innovate and solve problems. To meet those challenges, we are providing clients with our expertise and letting them leverage the same infrastructure that powers the Bloomberg Professional service, the world’s leading platform used by more than 300,000 business and financial professionals globally.”

Speakers at the Bloomberg LINK’s first Enterprise Technology summit discussed key advancements in cloud computing, managed solutions, and security during panels, moderated by Bloomberg executives and staff from Bloomberg Businessweek, Bloomberg News, and Bloomberg Television.  Bloomberg LINK creates an environment that allows participants to engage in open discussions that lead to learning from each other’s expertise and experience.