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Article: A Plan of Attack for Cutting Information Technology Costs.(Brief Article)(Column)
- Article from:
- American Banker
- Article date:
- May 10, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Pressures to cut spending and rebuild earnings in the retail-banking sector are not going to ease soon, which means all information technology projects and operations will remain on the chopping block in the months ahead.
Cost cutting alone can be a daunting task for many senior executives, including chief information officers. The bigger challenge is to tighten information technology budgets -- which are a significant portion of their noninterest expense -- without threatening the future competitiveness of the business.
Our experience suggests that a focused, collaborative effort among senior business and information technology executives to pare ...