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Has IT played the key role in economic recovery?

Created by : Jayesh Jain, Software Developer, MS IT  | 12 04 2009 09:02:24 +0000
Industry : IT ServicesFunctional Area : Growth(Strategy & Execution)
Keywords : it survey accenture economic recovery economist intelligence unit (eiu)
Activity:  158 views;  last activity : 07 06 2010 20:18:09 +0000

According to a survey by Accenture and the Economist Intelligence Unit (EIU) says corporates now give more importance to IT as they view technology as an important aspect of their efforts thathelped them tide over economic slowdown.

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They surveyed about 72 percent of business and information technology (IT) executives say that their firms place greater value on the IT function today than they did before the economic crisis.

Consequently, the executives expect technology spending in their companies to increase either selectively (47 percent) or across the board (10 percent) in the next 12 months, it added. Survey also highlights that cost savings and control remain a key driver when it comes to IT investment decisions.

Do you also think it was IT who helped corporates to recover from global recession?

  
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Without IT Infrastructure in place the operations of companies going to be costlier. Only IT enabled companies can optimise and stay healthy during tough times.
By Prasad PN, Zonal Sales Manager  | 12 05 2009 08:23:47 +0000
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I agree with this survey. IT has done many things. Lot of people are living a decent life because of it. Corporates are also now giving more importance to it as they view technology as an important aspect of their efforts that helped them tide over economic slowdown. This could spell increased opportunities for Indian IT companies, which have been hit by the global economic slowdown.
By Jayesh Jain, Software Developer, MS IT  | 12 04 2009 09:02:24 +0000
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IT Industry in India or developed nations has less or no contribution in economic development.

The fact that, these are the same industries, which have let to the global economic meltdown like global warming & meltdown of ice...

IT enabled Corporates now have a chnace to cut short b'coz, they are IT enabled, hewnce, unwanted or input or investment in IT which was done witout its need has just being pulled back..more or less corporates are not interested in understanding IT but more into curt short of the one they are using so that giant corporates can lighten.

Hence, corporate IT's have less or no contribution, since they are spending time in saving themselves & their economy than Country's

Do revert for clarification 
By Pavan Bodapati, Assistan Manager HR, Seanergy Softech Pvt Ltd  | 12 05 2009 09:39:19 +0000
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No ,it was a major cause in the fall but the recovery right now is mainly driven by govt grants and extensions.Unless the hiring and salary hikes happen in IT till then it cannot be owed to them.IT contributes more than others because of volume of workforce.
By SUMEET DIKSHIT, Real Estate Transactions & Advisory, Real Estate  | 12 04 2009 09:34:41 +0000
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I have a skeptical opinion on this, IT itself was the most effected area during recession. In countries like India and USA, majority of employees loosing jobs were from IT industries. This shows, IT became lame during recession. So how can it be the main cause of economic recovery? I do agree to some extent that few companies leveraged IT but still I feel this survey has no merit in it.....
By Rakesh Chakraborty, Sr. Associate, ING  | 12 04 2009 09:04:17 +0000
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