Rethinking IT Spend in Financial Services
CIO efforts to innovate and support business growth are hampered by the time and costs spent updating systems that are already fit-for-purpose. These applications are typically core systems that support mission-critical workloads but do not need to be updated. A typical IT budget is allocating 50% for run, 40% for change of existing systems, and 10% for transformation and innovation initiatives.
Forward-thinking CIOs are challenging the requirement to unnecessarily upgrade and patch systems. They are looking to extend the life of IT assets by sourcing maintenance, security, and compliance from independent providers like Origina. This enables them to take the costs and resources from extended support and upgrades and invest them into innovations that support business growth.