Getting up to speed with IT!

By Donna Kudarenko, G2G3

Returning to work in the IT industry after nine months of maternity leave, especially in such turbulent times is quite a thought! Its now my 2nd day back and I’m frantically getting myself up to speed on what’s been happening in the world of IT over the last year - who’s acquired or merged with who, etc. One thing that’s very clear is that the industry is not going to emerge unscathed from the current economic state and I have no doubt many more mergers and acquisitions are on the horizon. Analysts are continuing to warn that technology spending is likely to take a great hit - if nothing else, IT budgets will at least be adjusted in line with the rest of the business cuts. Despite the probability of most IT projects being put on hold, strategic projects such as cost cutting are most likely to continue. And yes, I know it’s been said many times before, but it really is time for the CIO to start thinking innovatively!

Is the future of IT in the bank?

By Jenny McLeod, G2G3

Over the past few weeks, many analysts have had their worst recession fears confirmed. Bank of America purchased Merrill Lynch, Lehman Brothers declared bankruptcy and AIG have been scrambling to secure tens of billions of dollars in emergency capital. It is hasn't been a great month for the financial sector.

Worryingly, financial service institutions have traditionally been the biggest drivers for the IT industry – major investment banks and insurance companies spend hundreds of billions of pounds annually to maintain and upgrade IT networks. This dependency has left many people wondering - what will happen to the IT industry if the financial sector goes bust?

Fortunately, things are not as bad as they may seem. Gartner Analyst Ken McGee says that major financial institutions will continue to demand IT services and products as they are crucial in order to stay competitive and keep sensitive data secure. Lehman Brothers continued to invest heavily in IT even though it was surging towards bankruptcy. So, whilst spending will probably slow, it may not experience negative growth. On top of this, departments at major financial firms will have known about the impending downturn for a considerable amount of time. If they have budgeted accordingly then drastic cuts should be avoided.

And what about the future of IT – is it in the bank? There will be a host of new legislation in the aftermath of this crisis, which will hopefully open up new channels for the importance of IT. This could be particularly true for firms that help companies comply with reporting requirements. Dr. Paul Plishuk, president of Information Gatekeepers, Inc. (IGI) points out that the increasing number of mergers and acquisitions will also boost the market for firms that specialize in integrating networks – consider the Bank of America and Merrill Lynch case.

The troubles within the financial sector will have far reaching consequences. Let's hope that the IT industry can utilize its position in a way that secures its future.

The G2G3'ers talk like pirates

by Linda King, G2G3

Today is ‘International Talk Like a Pirate Day’, which is causing no end of hilarity in the G2G3 office. As the room reverberates with calls of ‘Aarrr’ and ‘Ahoy, me hearty’, there’s a lot of laughing going on. And that’s what the creators of this madcap day had in mind - since it’s inception in 1992, they recognized that talking like a pirate is fun - it’s as simple as that. Who knows... perhaps it might be a great scenario for our next ITIL simulation.. :-)

Publication of IT Service Management: Global Best Practices

By Jenny McLeod, G2G3

Last month, itSMF International announced the publication of IT Service Management: Global Best Practices. It is a unique collection of 40 papers that offer inside knowledge on the new practices and processes that could radically change IT service Management in the next few years. The compendium is written by global industry leaders worldwide and offers thought provoking guidance for IT managers everywhere. For more information or to order a copy, visit the itSMF bookstore.

Only 3 more days till itSMF USA!!

By Linda King, G2G3

It's only 3 more days now till itSMF Fusion in San Francisco. G2G3 are excited about being there, and having so much involvement in the conference and exhibition. It's not too late to register! Come along and experience 2 of our simulations in the Simulation Showcase Event on Sunday 7 September. Our fantastic facilitators will be running open events for both Polestar ITSM, our ITIL simulation and Polestar PM, our Project and Portfolio Management simulation. Henry Strouts, our VP of Business Development will be presenting on Monday on how Infographics can win the battle of IT complexity - this is sure to be a crowd pleaser! And of course, we'll be there in the Exhibition Hall at Booth 711, so come along to meet us all and see our new simulation offerings for yourself. Looking forward to seeing you there!