There’s plenty of good news on this front, with many firms having recently plowed more funds into technology-driven initiatives and upgrades. In fact, the percentage of revenue that was invested in technology in 2010 (6.5%) was higher than in the past several years.
Another topic of discussion was the vast opportunities for firms to consult with their clients on moving them to internal cloud computing. With consumer technology raising the expectations for what clients require for their business needs (real-time information, any-time access, self-service options), the bar keeps jumping higher.
How are firms missing the technology boat? “Firms are not reflecting technology increases enough in their pricing,” stated Boomer.
As many firms throughout America have proclaimed, they are struggling with partners and employees bringing in their own technology, then wanting the tech department to connect it to the firm’s systems. Jim Boomer brought this up in his session, which resulted in so many nodding heads in the audience that I thought I was at a bobblehead convention.