Boston, MA -- (SBWIRE) -- 12/17/2013 -- This report presents the findings from a survey of 158 financial market institutions regarding their Information and Communications Technology (ICT) budgets and staff allocation. The survey investigates how financial market institutions currently allocate their ICT budgets across the core areas of enterprise ICT spend, namely hardware, software, IT services, communications and consulting.

Introduction and Landscape
Why was the report written?
In order to provide a depth of insight into ICT vendors' and service providers' potential customers.

What is the current market landscape and what is changing?
Although financial institutions are allocating a large proportion of their ICT budgets to software licenses, enterprises are gradually shifting their focus towards software as a service (SaaS) as well.

What are the key drivers behind recent market changes?
Institutions in the capital markets are gradually shifting their focus towards SaaS in order to reduce IT costs, improve scalability, and free up resources to support new technologies and revenue-generating projects.

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What makes this report unique and essential to read?
Kable Global ICT Intelligence has invested significant resources in order to interview CIOs and IT managers about their IT Budgets. Very few IT analyst houses will have interviewed 150+ ICT decision makers in financial market in H2 2012.

Key Features and Benefits
Understand how ICT budgets are set to change in 2013 in terms of their overall size.

Appreciate how budgets are allocated across the core elements of ICT spend, including hardware, software, services, communications and consulting.

Learn how ICT money is being spent in areas such as the data centre, applications, IT management and the network.

Establish how IT staff are typically allocated within financial market organizations.

Gain insight into with whom financial market institutions plan to spend their ICT money.

Key Market Issues
As financial market institutions are generating considerable volumes of data that needs to be stored for future reference and analysis, they are prioritising investments in data centres.

Institutions are planning to increase their spending on internal development and maintenance from 26% in 2012 to 27% in 2013, signifying that these firms are keen to improve their capabilities to support in-house project development and innovation.

Financial market institutions are planning to allocate 14% of their total ICT budgets to telcos in 2013, experiencing a decline of 1% compared to 2012.

With average allocations of 14% security is receiving reasonable attention from financial market institutions as network intrusion or data theft can lead to huge financial losses and affect the reputation of organisations.

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