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Business Intelligence to Dominate 2006 IT Expenditure in UK Manufacturing and Distribution
Studley, England (ots/PRNewswire) -
- Management and Budget Issues Threaten Success of Projects
The majority of IT teams within UK manufacturers and distributors will focus on Business Intelligence (BI) and reporting projects over the next 12 months, according to research released today by enterprise software provider Geac.
Over a third (39%) of the UK mid market manufacturers and distributors polled said BI would take up the majority of their IT resources over the coming year. The manufacturing sector has been viewed as one of the leading adopters of BI technology, helping to fuel analyst estimations of 30% annual growth for the market(1).
In terms of other major IT projects, 'forecasting and demand planning' was top of the list for a further 27%, with traceability and RFID projects totalling a further 18% over the next 12 months.
However, there was also a note of caution. Half (50%) of the respondents thought that the ongoing demands of other priorities would be the greatest inhibitors to the success of these projects. 36% felt a lack of budget would be the biggest stumbling block, whilst 18% are concerned over integration difficulties.
Neeta Solanki, a business intelligence consultant for Geac, commented: "The vast majority of companies I talk to have IT departments swamped in report writing activities for end users. In some cases it is a full time job for some highly qualified IT staff to handle these needs. This scenario cannot be the way forward for British industry. Business users need their own access to 'intelligence', without overburdening the IT department.
"However the notable interest we're seeing in business intelligence projects shows there's a major concern over how companies can get the critical information they need for more effective decision making and improved productivity. But the concerns highlighted by this survey over competing demands for ongoing work and budgets may inhibit a lot of companies from exploiting the benefits of this technology to its full potential."
Geac (TSX: GAC, NASDAQ: GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organisations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at http://www.geac.com or through e-mail at firstname.lastname@example.org.
(1) IDC estimate for global BI market: Worldwide Business Intelligence Tools Forecast 2005-2009, October 2005.
This press release may contain forward-looking statements of Geac's intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. These forward-looking statements are neither promises nor guarantees. They are only predictions that are subject to risks and uncertainties, and they may differ materially from actual future events or results. Geac undertakes no obligation to update or revise the information contained herein. Important factors that could cause a material difference between these forward-looking statements and actual events include, among other things: our ability to increase revenues from new license sales, cross-sell into our existing customer base and reduce customer attrition; whether we are able to deliver products and services within required time frames and budgets to meet increasingly competitive customer demands and performance guaranties; risks inherent in fluctuating international currency exchange rates in light of our global operations and the unpredictable effect of geopolitical world and local events; whether we are successful in our continued efforts to manage expenses effectively and maintain profitability; our ability to achieve revenue from products and services that are under development; the uncertain effect of the competitive environment in which we operate and resulting pricing pressures; and whether the anticipated effects and results of our new product offerings and successful product implementation will be realized. These and other potential risks and uncertainties that relate to Geac's business and operations are summarized in more detail from time to time in our filings with the United States Securities and Exchange Commission and with the Canadian Securities Administrators. Please refer to Geac's most recent quarterly reports available through the website maintained by the SEC at www.sec.gov and through the website maintained by the Canadian Securities Administrators and the Canadian Depository for Securities Limited at www.sedar.com for more information on risk factors that could cause actual results to differ. Geac is a registered trademark of Geac Computer Corporation Limited. All other marks are trademarks of their respective owners.
ots Originaltext: Geac Computer Corporation Limited.
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