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Companies will spend $8.8 billion this year on hardware, software, and integration to comply with regulations and laws or requests from business partners, according to a study released Thursday.
Governance, risk management, and compliance have been on the minds of business and IT executives during the past few years, resulting largely from the Sarbanes-Oxley Act.
The survey of 325 North American companies reveals technology plays a significant role in the integration of compliance requirements into existing business processes. Seventy five percent said they will comply with requests to improve business performance.
While North American companies will spend $27.3 billion this year, up to $28 billion in 2007, complying with the Sarbanes-Oxley Act will take the biggest chunk of the pie, estimates AMR Research Inc.
Complying with Sarbanes-Oxley will cost companies $6 billion in 2006, with spending climbing higher in 2007, estimates AMR Research. In June, Sarbanes-Oxley requirements kick in for foreign registrants, which are defined as companies based outside the United States, but that trade stock or have debt within the U.S.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
