February 16, 2004—In a sign of the times, many executives are concerned about their companies’ ability to protect and sustain business operations in the event of a significant disruption. According to a new survey, 37 percent of chief financial officers (CFOs) said they perceive their firms to be most vulnerable in the area of disaster recovery, followed by security of information systems, at 24 percent. When the same executives were asked where they plan to invest the most dollars in 2004 to ensure future business growth, 28 percent said technology enhancement.
The survey was developed by Robert Half Management Resources, a provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.
CFOs were asked, “In which one of the following areas do you feel your company is most vulnerable?” Their responses:
| Disaster preparedness/recovery | 37% |
| Security of information systems | 24% |
| Protection of intellectual capital | 11% |
| Detection of accounting fraud | 10% |
| Theft by company employees | 2% |
| Other | 3% |
| None/not vulnerable | 11% |
| Don’t know/no answer | 2% |
| Total | 100% |
CFOs were also asked, “In which of the following areas will your company invest most heavily in 2004 to ensure its future growth?”
Their responses:
| Technology enhancement | 28% |
| Marketing | 20% |
| Facilities expansion | 17% |
| Training | 17% |
| Additional personnel | 9% |
| Acquisitions | 3% |
| Other | 2% |
| None/don’t know | 4% |
| Total | 100% |
“Potential business disruptions, such as operational failures, network intrusions and e-mail viruses, are top of mind for many executives,” said Paul McDonald, executive director of Robert Half Management Resources. “As a result, CFOs are allocating more funds to technology in 2004, in areas such as systems upgrades and implementations, and business continuity planning. In addition, firms are increasing investment in security within operating systems, across applications and throughout networks.”
For more information, contact Robert Half Management Resources.
