Study: Execs failing to grasp value of IT assets

More than half of CIOs and CFOs have never tried to quantify the financial value of their core IT assets, according to study.

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By  Michele Howe Published  October 2, 2007

More than half of global CIOs and chief financial officers (CFOs) have never tried to quantify the financial value of core IT assets, according to a new study.

Proof if more were needed that the gap between IT and business is still vast, a report by UK software firm Micro Focus has found an astonishing lack of awareness among CIOs and CFOs on the size and value of their IT assets.

According to the study, which was based on research in the US and Europe, only 37% of CIOs have tried to quantify the financial value of their IT assets.

The report found that nearly two thirds (60%) of global CFOs and CIOs do not know the size of their core software assets, while a third (29%) do not know what they spend on their core software assets each year.

The company said the research was a "wake-up call" for companies.

"If organisations do not know the cost and value of IT assets, then they must be severely challenged to make the right IT investment decisions moving forward," said Stephen Kelly, CEO of Micro Focus.

The study was compiled from a survey of 250 respondents across France, Germany, Italy, UK and the US at companies with revenues from $100 million up to over $1 billion.

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