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Sarbanes-Oxley Work Slowed IT Spending For Some

Sarbanes-Oxley Work Slowed IT Spending For Some

by Rick Turoczy on January 2, 2005

The push to achieve compliance with the Sarbanes-Oxley Act was a prominent, and recurring, theme throughout the IT world in 2004. While the ripple effect of Sarbanes-Oxley compliance efforts will be felt for some time, a report being issued Jan. 1 indicates that one of the more immediate results for some companies was a slowdown in IT spending as executives rethought IT project priorities.

Deadline for compliance with certain sections of the Sarbanes-Oxley Act of 2002 delayed technology projects and shifted technology priorities in the last half of 2004, according to a new report from research firm B2B Analysts Inc. The report is the result of a primarily anecdotal study of 66 public companies conducted in October and November.

Although generalizations were hard to come by, B2B president David Dobrin admits, the result of Sarbanes-Oxley compliance efforts for 40% of the companies studied has been a “braking effect” on technology spending, particularly within small businesses and companies in the financial-services industry.

One of B2B’s more interesting findings is that companies believe standardizing on a particular back-office software package, rather than integrating different applications from different vendors, will help with compliance in the long term.

Sarbanes-Oxley Work Slowed IT Spending For Some

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