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Private Equity IT Priorities and Chief Technology Officer Role Explored in Eze Castle Integration 2016 Private Equity CTO Survey(December 01, 2016)
Boston, MA (PRWEB) December 01, 2016
Eze Castle Integration, Inc., a leading provider of strategic IT solutions and private cloud services to the investment industry, reveals technology and cybersecurity strategic priorities for private equity firms in its 2016 Private Equity CTO Survey. Conducted in partnership with IDG Research, the survey includes 101 senior-level executives, and findings encompass four primary areas: business priorities, cybersecurity, outsourcing trends and the evolution of the private equity CTO.
Private Equity IT Business Priorities
When asked to identify the top drivers impacting IT spend in the next 12 months, survey respondents highlighted the need for increased protection against growing cybersecurity threats, a desire to improve the investor/client experience, and the goal of improving efficiencies by refreshing outdated or legacy technology. Cloud computing was identified by nearly 90% of respondents as a planned investment area, with respondents preferring private cloud solutions over the public cloud.
Security Remains Top Concern
Seventy (70) percent of private equity firms surveyed experienced three or more cyber issues in the past year, while 29 percent of firms experienced five or more issues during the same time frame. In the past 12 months, firms indicated that they've experienced a wide range of cybersecurity issues, most notably malware, worms and viruses (1 in 3 firms), unauthorized access to corporate data (nearly 1 in 3 firms) and hijacking of social media accounts (nearly 1 in 3 firms).
While two-thirds of firms expressed confidence that they are prepared to address cybersecurity risks, cybersecurity budget findings indicate that increased spending is necessary to keep pace with the growing threat landscape.
Evolution of the Private Equity CTO
Survey findings indicate that the CTO/top IT executive at private equity firms may be elevating his/her status across the board. Ninety-three (93) percent of survey respondents believe their firm's top IT executive is becoming more important to their business, while 85 percent see the CTO becoming more involved in driving the firm to meet regulatory and compliance demands.
The CTO also serves as the Chief Information Security Officer (CISO), with 86 percent of respondents saying the CTO holds top cybersecurity responsibility. Even at funds with more than $2 billion AUM, the CTO wears a dual hat.
About the 2016 Private Equity CTO Survey
The online survey conducted by IDG Research collected information from 101 senior-level executives at private equity firms. Thirty (30) percent of these individuals worked at firms with more than $2 billion in assets under management (AUM); 25 percent had an AUM of $750 million to $1.9 billion; 14 percent had assets of $250 million to $749 million; and 30 percent percent had assets under $250 million at the time of the survey.
- Download the 2016 Private Equity CTO Study here.
- Whitepaper: Why Are Private Equity Firms Moving to the Cloud?
- Eze Castle Private Equity Services
- Hedge Fund IT Blog: http://www.eci.com/blog/
About Eze Castle Integration
Eze Castle Integration is the leading provider of IT solutions and private cloud services to more than 650 hedge fund, private equity and other alternative investment firms worldwide. The company's products and services include Private Cloud Services, Cyber Security Services, Technology Consulting, Outsourced IT Support, Project & Technology Management, Professional Services, Dedicated Private Network, Telecommunications, Voice over IP, Business Continuity Planning and Disaster Recovery, Archiving, Storage and Colocation. Eze Castle Integration is headquartered in Boston and has offices in Chicago, Dallas, Hong Kong, London, Los Angeles, Minneapolis, New York, San Francisco, Singapore and Stamford.
Read the full story at http://www.prweb.com/releases/2016/private-equity-CTO-survey/prweb13890210.htm.