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Press Release
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Survey of Business Executives Reveals Stifled Innovation Due to Poor Communication with IT
EL SEGUNDO, Calif. — April 3, 2006 — iRise® the world’s leading application definition software and services company, today announced the results of its first annual survey of line-of-business (LOB) executives. Commissioned by iRise and conducted by Decipher, the March 2006 survey of U.S.-based business executives found that 74% believe there’s a communication gap between business and IT that is crippling their ability to get mission-critical business systems to market on time. Of all respondents, 80% have experienced delays in getting to market, with miscommunication with IT cited as the leading cause. Nine out of ten would like to communicate with IT using easy-to-understand, interactive simulations rather than static text requirements.
Business executives overwhelmingly noted that they needed to develop better ways to coordinate work efforts between IT and business departments. A staggering 94% view the systems delivered by IT as critical to the success of their business plan. Half of respondents stated that miscommunication between business and IT was a key reason why projects fail. Regarding the delivery of new business systems, the survey revealed:
- 52% said the new business systems get delivered with missing features;
- 60% of respondents stated that they budget for project delays and 83% budget for cost over-runs; and,
- 90% indicated that delivering projects faster to market would be an important factor in their competitive advantage and cost control.
“These survey results quantify what we’ve been seeing for years; there’s a huge communication gap between business and IT,” said Emmet B. Keeffe III, CEO and co-founder of iRise. “It’s not surprising that the lack of communication is leading to the loss of competitive advantage. As we move further into a design-driven economy, solving this problem will become critical for business success.”
The survey polled 150 line-of-business executives, the vast majority of whom represent multi-billion dollar plus companies and all of whom are at the VP level and above. All of the respondents manage businesses of $50 million or greater.
In a related announcement today, iRise launched a new version of its interactive application definition platform that gives business people the power to quickly simulate applications before a single line of code is written. iRise simulations become visual specifications to the development team and downstream organizations that eliminate rework and bring projects in on time and on budget. Although the concept of simulation is not a new one for aerospace, automotive and other industries, iRise is the first company to deliver functionally rich, interactive simulations as a quantum-leap improvement over traditional, static, text-based specifications for complex business systems.
About iRise
iRise® is dedicated to bridging the communication gap between business and IT by improving the process of defining software. Leading corporations like Agilent, Fireman's Fund, Sprint, Wachovia, Sun Trust Bank, Royal Caribbean Cruise Lines and Motorola use its market leading application definition platform to get requirements right - the first time. iRise application simulations cut rework costs, accelerate time to market and reduce the risks associated with global development on mission-critical business systems initiatives. Unlike text-based requirements, visual iRise simulations are unambiguous and enforceable specifications that ensure the needs of the business are clearly understood and met. iRise simulations can be built by business experts and used in a collaborative global model to quickly iterate on stakeholder requirements with business people, dramatically improving project success. Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley Venture Partners and has sales offices across North America.
Contact:
Carla A. Schlemminger
iRise
(415) 772-0827
carlas@irise.com
Ami Hamilton
Access Communications
(415) 844-6251
ahamilton@accesspr.com
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