Financial firms top server spending league

News Article - Wednesday, March 26, 2008

filed under: Technology

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Financial companies spent more on servers in 2007 than any other sector, according to a new study.

A report by analyst Gartner suggests that firms in the financial industry accounted for one in four of all server sales.

Financial companies spent a total of $13.9 billion (£7 billion), while overall spending on servers soared last year, compared with previous years.

Kiyomi Yamada, Gartner principal research analyst, commented: "The recent US credit crunch negatively impacted the US financial services sector's server spending toward the end of 2007. However we did not see serious spending cuts on a global basis."

According to Gartner, businesses in the communications sector spent $6.4 billion in 2007, while public sector organisations spent a total of $6.4 billion.

Recent research by IDC indicated that server spending will slow in 2008, as global economic uncertainty continues to affect markets.

Management reporting software can help companies to manage their business processes, while accounting software can help them to keep track of their spending.

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