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Tech CFOs to hire sales, R&D staff as growth returns

Fred O'Connor | March 10, 2011
Technology companies anticipate that growth will return to that sector in 2011 and have plans to hire the workers necessary to capitalize on that, according to a recent poll of tech CFOs.

CFOs, however, will need to earn those larger paychecks, with 55 percent reporting that their employers will more closely link compensation to performance.

"More and more people are getting pressure from shareholders in that area," Galligan said.

The BDO survey also revealed a continued embrace of cloud computing, with 72 percent of CFOs reporting that their firms are using the technology. This marks a 29 percent rise from the 2010 survey. CFOs ranked better business agility, improved stability and cost flexibility as key factors in adopting cloud computing. Among companies that cloud compute, 55 percent of respondents are looking to ramp up use, an increase of 53 percent from last year's report.

On Thursday actions by Manpower, a global provider of staffing services, and Tampa General Hospital helped validate this finding. Both firms announced that they are jettisoning some of their on-site systems and are adopting Microsoft's cloud computing offerings.

While the companies of most of those surveyed have taken up cloud computing, 28 percent of the CFOs said they avoid the technology.

Security concerns (29 percent), the complexities and cost of moving to the cloud (29 percent), and limited application features (29 percent) proved the main deterrents, according to the CFOs.

While 10 percent fewer CFOs see cloud computing security as a problem compared to the 2010 study, security issues with the technology "have been there for a while," said Galligan.

"It's been a lingering issue," said Galligan, who noted that maintaining privacy and data security are two main concerns. "You're putting out your most important assets with sale force automation."

 

 

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