::::48 percent of CIOs identify business continuity as one of their top five priorities::::

<div class=&quot;custm_img_blk&quot;><img src=&quot;http://www.techgig.com/files/photo_1335321011_temp.jpg&quot; border=&quot;0&quot; width=&quot;300&quot; height=&quot;200&quot; align=&quot;left&quot; /></div><p>IT functions are responding to the current volatile markets and uncertain economic outlook by focusing on establishing lean and agile IT that can quickly respond to business demands. A two-pronged approach of cautious spending coupled with focus on innovation to support revenue enhancing abilities of IT has emerged as per the Ernst &amp; Young and CIO KLUB 4th Annual Survey The Enterprise IT Investment Trends Survey 2012. </p> <p>The survey, based on interactions with over 184 CIOs of companies with annual revenues ranging from less than INR 1 billion to greater than INR 10 billion, indicates the increasing importance being placed by businesses on IT. A wider community of CXOs is better appreciating the role of IT to achieve business transformation. This change is reflected in the budget outlook numbers provided by the CIO community.</p> <p>Approximately 60 percent of the respondents have reported a planned increase in capital spending on IT with 20 percent of respondents reporting more than 20 percent increase in IT spending. On similar lines, 60 percent of the respondents plan to increase operational expenditure. Devendra Parulekar, Partner-Advisory Services, Ernst &amp; Young says, &ldquo;While IT budgets experience a steady increase over previous years, the CIOs will be Read More</p>

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