Compliance will continue to be the albatross of IT operations, according to a new report by Mercury Interactive Corporation and the Economist Intelligence Unit. The report, “Sustainable Compliance: Industry Regulation and the Role of IT Governance,” shows that for large companies (over $8 billion in U.S. revenue), compliance ranks as a leading strategic IT priority.
The report, based on a global survey of more than 800 IT executives from 22 countries, found that implementing regulatory compliance programs was cited as one of the biggest current challenges facing IT by over 80% of the largest companies in the APAC region, 74 percent of U.S. companies, and 45% of the largest EMEA companies.
The report also states that IT executives expect benefits from the completion of compliance initiatives. According to the survey, financial reporting, IT Governance, and business process improvements stood out as significant benefits of compliance.
“A flood of business regulations are forcing global IT managers to seek new strategies that minimize the burden and maximize the benefits of addressing regulatory compliance,” said Gareth Lofthouse, European director for executive services at the Economist Intelligence Unit. “This report argues that long-term planning and strong IT Governance will be key to this endeavor.”
The report also includes insight from industry experts including Dr. Peter Weill, director of the Center for Information Systems Research at the Massachusetts Institute of Technology (MIT).