GIVEN the bearish outlook for the global economy, especially in the information technology (IT) industry that is still recovering, chief investment officers in the sector have been expected to do more with less investment.
Generally, investments in IT for the last year, although moving forward, had been and would be very constrained, Veritas Software Corp managing director for Malaysia (acting) and Singapore, Edward Lim, said.
Most of the investment officers I have spoken to either in Malaysia or Singapore are challenged to do more with less, he told Bernama.
IT budgets had been practically shrinking but within that limited budget, more allocations had been given to storage solutions, he added.
Although the allocations for storage solutions had not been significant, compared with servers and so on, the storage area was expected to post a double-digit growth in the current year, he said.
This was because more companies realised the importance of data keeping, especially listed companies which had strict regulations to adhere to in terms of filing of their activities.
On future prospects, he said that as a leading data protection solutions provider, Veritas would have a lot of opportunities to tap on in the area of backup and recovery market.
Lim said the research house of Gartner estimated that only 35% of small to mid-size enterprises had comprehensive disaster recovery plans in place, and fewer than 10% had crisis management, contingency, business recovery and business resumption plans.
He said research done by Veritas also found that two out of every five enterprises that experienced disaster go out of business within five years.
As at March 2002, Veritas owned 48.4% of the Unix and Windows backup and recovery market, he said.
Another area of opportunity for the company, he said, was the merging and consolidation of banks, manufacturers and telecommunication companies in the region.
The result of acquisition is that it forces companies to do a couple of things, one of which is data centre consolidation (IT consolidation), which in turn pushes storage consolidation and server consolidation.
Veritas advantage is that its software can be used in all 5 major platforms namely Solaris, HP-Unix, all range of Windows, Linux and AIX.
Sometimes we develop our own products but if its going to be cheaper through acquisition, then Veritas will do that too, he said.
Veritas recently acquired 2 software companies namely Precise Software Solutions which is the leader in application performance solutions and Jareva Technologies, a market leader in server automation. Bernama