This report takes a deep dive look at the IT trends and expenditures in SMB finance firms, versus Enterprise finance firms. SMB includes small and medium-sized businesses. It is important to understand the key differences and needs of those smaller financial firms compared to the large financial institutions.
Financial firms in the US have remained in a strong position among the business verticals in this volatile and uncertain economy, and have also shown significant strength in IT investments. In fact, these firms spent an estimated $27 billion on IT products and services in 2004, and this is expected to reach $31 billion by 2008. Interestingly, the small and medium businesses in the financial industry are expected to see slightly higher IT investment growth compared to the enterprise financial firms throughout the forecast period.
