Date Added: Nov 2009
Many in the IT industry fear recession, since IT is often viewed as an overhead expense and is one of the first areas targeted for cost-cutting. However during the 1998-2004 recession, agile IT organizations that improved efficiency helped move their organizations ahead in the marketplace, increased corporate profits, and positioned themselves as a value-add. A recession can offer an opportunity to review business processes, examine security measures, and consider compliance objectives, provided the IT organization is willing to make the organizational and process changes needed to improve efficiency. Diamond Management and Technology Consultants, in a study titled, "Don't Waste a Crisis," found that "opportunistic" enterprises increased gross margins by 20 percent once the recession was over.