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IDC Reports: Banking and Finance Sector the Largest Corporate IT Vertical in Australia

  • 12 July, 2004 11:33

<p>NORTH SYDNEY, July 12th, 2004 – IDC found the Banking and Finance sector was valued at over A$2 billion for 2003, according to latest research from the "Corporate Banking and Finance” report. This is the largest IT corporate market, followed closely by the telecommunications/media and government sectors.</p>
<p>The Banking and Finance vertical market made up just over 20% of overall IT spend at the corporate level (500+ employees) in Australia. In 2004, where the business environment is expected to continue to be upbeat, but yet uncertain, financial companies are set to reorganise their businesses and concentrate on the areas that have more value for their stakeholders.</p>
<p>"Efficiency remains a priority for both banks and insurance companies and they are expected to make their IT decisions mainly to pursue this objective. Any new areas of investment are mainly related to the need to comply with external requirements”, commented Kourosh Ghassemi, IDC's Research Director for Vertical Markets.</p>
<p>IDC expects areas of investment to be:
* Selective Outsourcing
* Risk management
* Reporting
* Back-end system integration
* Claims management (insurance)</p>
<p>For further information regarding IDC's Corporate Vertical Research please refer to the following website: or to purchase IDC research, please call the IDC sales team on (61 2) 9925-5300 or email Gary Clarke on</p>
<p>For press enquiries please contact:</p>
<p>Kourosh Ghassemi</p>
<p>Research Director, SMEs, Vertical Markets &amp; Infrastructure</p>
<p>Phone: 61 2 9925 2221</p>
<p>IDC's Asia/Pacific Ubiquitous Mobility Conference in August 2004
"Harnessing the Mobile Giant to Transform Your Enterprise"</p>
<p>IDC's Ubiquitous Mobility event will help you understand the importance of adopting a mobile strategy, and it will transform both your mindset and your organisation. You will learn not only why you should not fear ubiquitous mobility but also why you should embrace it, and how you can control it.</p>
<p>Who should attend? CIOs CEOs, CFOs, line of business heads and others concerned about their company's IT&amp;T investments. Key IT staff, systems architects, and project managers tasked with implementing mobile and wireless projects should also attend.</p>
<p>Learn more at</p>
<p>Date: Tuesday 17th August 2004
Time: 8.30am - 4.00pm
Venue: Sydney - Star City Ballroom, 80 Pyrmont St, Pyrmont
Cost: Early Bird $395 if you register and pay by 5th August 2004 (Regular cost $550, save $155).</p>
<p>Register Today at or for further information contact Bree Charlton on phone (02) 9925 2200 or email</p>
About IDC</p>
<p>IDC is the premier global market intelligence and advisory firm in the information technology and telecommunications industries. We analyse and predict technology trends so that our clients can make strategic, fact-based decisions on IT purchases and business strategy. Over 700 IDC analysts in 50 countries provide local expertise and insights on technology markets. Business executives and IT managers have relied for 40 years on our advice to make decisions that contribute to the success of their organisations. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. Additional information can be found at</p>
<p>Click here to view the press release online:</p>
Tanya Sager
Web Marketing Executive
IDC Australia
61 2 9925 2229</p>

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