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Press Release
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2nd Annual iRise CIO Survey Highlights Renewed Emphasis on
Innovation as Strategic Imperative
89% of IT executives want to spend more energy on innovation initiatives
yet limited IT resources stall efforts
NEW YORK – iRise User Conference & Industry Summit – Oct. 18, 2006 — iRise®, the world’s leading application definition software company, today announced the results of its second annual CIO survey. Commissioned by iRise and conducted by Decipher, the September 2006 survey of 200 U.S.-based IT executives found that innovation is a formal strategic goal of their company. Approximately 89% of IT executives want to spend more energy on innovation initiatives, yet a majority state that limited IT resources stall more innovation. The survey polled 200 IT executives, the vast majority of whom represent multi-billion dollar plus companies, and all of who are at the VP level and above.
IT executives aim to translate the imperative of more innovation into increased revenues in an increasingly competitive, global economy. Usability and design (e.g. of an online banking site, travel portal or employee-facing application) have taken center stage, with 94% of respondents stating that design is an essential part of application development, and 80% noting that usability of customer-facing applications is a competitive differentiator.
Other key survey findings include:
- Competitive advantage: Staying competitive in the marketplace was the #1 reason cited by IT executives (67% of respondents) as a key indicator of their company’s performance on innovation initiatives.
- Communication between business & IT: More than half of IT executives are dissatisfied with their organization’s current method of defining applications, primarily because their business changes its mind mid-stream and isn’t fully invested in the definition process.
- Functionality: 82% of completed Web-based application projects experienced a significant amount of missing functionality due to poor requirements processes.
- Staffing: Almost half (47%) are hiring more business analysts as a result of the pressure to innovate, acknowledging the increasing importance of that role.
- Limited Resources: Time and resources are the main limiting factors for the vast majority of IT executives who don’t create coded prototypes of every application before development.
"Corporate spending is no longer just about keeping the lights on, it's about companies' struggles to gain a competitive edge and increase top line growth," said Mitch Bishop, chief marketing officer of iRise. "This survey clearly shows that IT organizations are looking to partner with business people to help stimulate growth, and they want technology that moves innovation initiatives along faster, without delays. Moreover, the consumer Internet has raised the bar for usability: user-centered design is the differentiator for greater adoption, productivity and brand loyalty."
Download the survey at: http://www.irise.com/resources/surveys.php.
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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