{"id":252,"date":"2007-03-14T13:41:27","date_gmt":"2007-03-14T21:41:27","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=252"},"modified":"2007-03-14T13:41:27","modified_gmt":"2007-03-14T21:41:27","slug":"compliance-it-budgets-maxed-out-by-cost-of-regulations","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/compliance-it-budgets-maxed-out-by-cost-of-regulations\/","title":{"rendered":"Compliance: IT Budgets Maxed Out by Cost of Regulations"},"content":{"rendered":"

Because\u00a0milliseconds can mean money, many financial services companies spare no expense when it comes to IT.\u00a0 In the big picture of things, money spent on getting the best equipment and IT personnel is small compared to the total potential revenues that financial companies could earn.<\/p>\n

It comes as no surprise then that Gartner estimates<\/a> that financial services companies pay out 25 percent of all monies going to buy new server equipment.\u00a0 Communications companies trail in second place at 13.5 percent, and Government spending comes in at a close third place with 11.5 percent.\u00a0 Financial services have\u00a0been the leaders of\u00a0this annual survey for a very long time.<\/p>\n

Gartner defines ‘financial services’ to mean investment, banking and insurance companies.\u00a0 The 2006 tab\u00a0for a typical financial services company for servers was $13.2 million.\u00a0 That includes new server hardware and upgrades.<\/p>\n

This year the breakdown of the server spending allocation was skewed upwards towards data storage.\u00a0 The reason?\u00a0 Sarbanes-Oxley, HIPAA, Sec 17a-4, and other compliance-related regulations.\u00a0 These laws require vast amounts of information to be stored and made easily searchable.<\/p>\n

The survey found that IBM leads the global server market with 44.6 percent market share in 2006, with 26.6 percent for HP and 9.2 percent for Sun.\u00a0 Sun reported the highest rate of growth, 26.3 percent, fueled by great sales of their multi-core Niagra machines and interest in their Open Source Solaris Operating System, a good competitor to Linux.<\/p>\n

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Because\u00a0milliseconds can mean money, many financial services companies spare no expense when it comes to IT.\u00a0 In the big picture of things, money spent on getting the best equipment and IT personnel is small compared to the total potential revenues…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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