NEWS IN BRIEF: Data matters! Infomatica CEO speaks outby
Data matters – especially in the middle of an economic meltdown. That's the view of Soheib Abassi, CEO of the last pureplay data integration vendor on the market, Informatica.
"Data matters even more in times of economic distress," said Abassi. "To survive in this economic environment, organisations are pursuing strategies to diversify across multiple economic regions; to scale with acquisitions; to reduce expenses; and to comply with various regulatory regimes.
"Each of these survival strategies mandates timely, realistic and accurate data. In other words, data integration now has an even greater sense of purpose and urgency, and this bodes well for Informatica."
He explained that its 2009 strategy is to continue to adapt its go-to-market processing and financial model for a challenging economic environment, with particular attention on profitability. "Both the economic environment and outlook remain challenging," Abassi added.
"Economists at IMF now predict that developed economies will shrink and growth of emerging economies will slow down dramatically. To cope with this dire economic outlook, organisations are scrutinising expenses - IT expenses are no exception."
He also pointed out that industry analysts now project overall IT spending will be at a similar level or more likely lower in 2009 compared to 2008. Yet, to manage businesses in these times of uncertainty, demands in IT will grow.
"To do more with less, IT departments must reprioritise their projects," said Abassi. "According to Gartner, data integration is now one of IT organisations highest priorities, even ahead of security."