TITLE

Maximizing Legacy IT Value

AUTHOR(S)
Rodrigues, Mark
PUB. DATE
December 2003
SOURCE
American Banker;12/19/2003, Vol. 168 Issue 243, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Editorial
ABSTRACT
Legacy systems keep attracting investment because they are usually already successful and it seems simpler to extend a functional system than to build one from scratch. The result is that financial industry spending on legacy systems has increased from just over half of all information technology spending in 1985 to nearly three-quarters in 2001. By contrast, spending on new development has shrunk from more than 40% of total expenditures two decades ago to less than a quarter in 2003. The increasing emphasis on getting the most out of previous investments in legacy technology causes information technology management to concentrate largely on running the bank at the expense of new initiatives. The key to controlling unproductive legacy spending is to benchmark technology investments against the outside world.
ACCESSION #
11719819

 

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