Scenarios For 2009: How CIOs Should Prepare (Forrester research)

via Ed Cone

Ed is pointing to a very interesting document from Forrester about the reactions of CIOs, classified by sectors. Including the Finance &  Insurance industries.

For the Insurance Industry, the analysis of Forrester is quite aligned with what we are perceiving at Innoveo.

The analysis is very recent and was presented during a webinar on December 11, 2008.

What is the insurance industry doing to address the downturn?

  • Anticipating more cut backs for 2009.
  • Insurance has already made significant cuts in IT spending early in 2008.
  • Growth in IT purchases for Finance & Insurance:
    • 2007: +8%
    • 2008: -2%
    • 2009: -3%

How will the recession affect the Insurance Industry?

  • Shallow recession: GOOD
  • Deep recession: NEUTRAL

What are firms in these sectors doing to address the downturn?

  • Most firms focus on IT’s traditional cost-cutting tactics.
  • New investments (30% of the overall costs):
    • Portfolio segmentation
      • Use commodity / low-cost resources
      • Eliminate large-sized efforts
      • Focus on short-term returns
    • Adopt lean thinking, reduce complexity
    • Shorten planning horizons
  • Operational costs (70% of the overall costs):
    • Consolidation/standardization, consistent with the business model
      • Data centers, server/storage virtualization
      • Consolidate and squeeze vendors
      • Centralization of IT contracts
    • Lean thinking — reduce complexity,
    • Staff and asset utilization optimization
      • Delay upgrades and refresh
      • Downgrade for lower volumes
      • Automate where it makes sense

The Finance & Insurance sectors are considering to invest in the following actions in 2009:

  • Retiring older applications or technologies to save support costs 50%
  • Adjusting project portfolios to increase near-term return on investment 55%
  • Assessing the IT organization structure to improve efficiencies 60%
  • Investing in technologies such as automation to reduce IT operating costs 70%

Leading firms take multiple alternative approaches:

  • Traditional IT tactics to deliver short-term results
  • Agility to offer alternatives in the long run — providing a lasting ability to rapidly shift partners, customers, and markets
    • Focus on increasing ability to change: adding/removing services, reselling services from third parties, channel integration
    • Focus on external interfaces to data and systems
      • Apply SOA for strategic flexibility
      • Look to third parties for flexible interfaces
    • Increase flexibility of contracts
    • Employ agile development methodologies
  • Innovation to accelerate out of the downturn — new business models and product/service offerings in addition to operational improvements
    • Accelerating out of the downturn requires a strategic focus, but without higher overall costs
    • Use a portion of CapEx for innovative ideas
    • Focus innovation criteria on business strategies
    • Use Web 2.0 technologies to farm ideas from across your Innovation Network — internal and external
    • Employ a different idea pipeline / steering committee
    • Keep investment performance metrics

Summary for the Finance & Insurance sectors:

 

summary forrester

Steve Lukather

For a while I had a discussion about the guitarist Steve Lukather with a friend of mine and I have discovered that Steve is not the most well-known guitarist, although he has played on over 1’000 albums in the last years!

Some information about

 

WIKIPEDIA /

 

Steve “Luke” Lukather (born October 21, 1957) is an American Grammy Award winning guitarist, singer, songwriter, arranger, and record producer best known for his work with the rock band Toto.

Lukather has also released several solo albums and, as a studio session guitarist, has arranged, composed, and recorded on over 1000 albums.

Lukather was recently voted #1 guitarist worldwide in over 40 countries at VoteNumber1.com.

While his work with Toto is predominantly based on pop rock music, Lukather’s solo work spans many genres including rock, prog, jazz and funk.

Lukather has been nominated for a Grammy twelve times, and has won five awards.

[…]

Influenced by blues-rock guitarists such as Jimi Hendrix and Jimmy Page, jazz guitarists such as Larry Carlton, and jazz fusion players such as Al Di Meola and Frank Gambale, Lukather is known for fast, melodic lines that often combine blues phrases with jazzy ‘out’ notes.

His vibrato is very pronounced and his exaggerated wide bends are instantly recognizable.

Well versed in theory, Lukather can follow chord charts and changes as a jazz musician would, and this enhances his value as a session musician. In interviews, he has explained how he thinks of the guitar in a “chordal cluster” format, and not the typical “linear scale” format.

 

INTERVIEW /

 

You said many times that your heros are Jeff Beck, Jimi Hendrix, Eric Clapton, Jimmy Page, Stevie Ray Vaughan, George Harrison and so on… You also got to work with Jeff Beck at one point… I just wondered if you ever got to meet these “heros” you’ve mentioned as being so important in your (musical) life and how it was to finally be “face to face” with them?

Luke: All these players are so awesome and have inspired me more than words. Jeff Beck… I have known him and played with him many times. We did a record together that never came out ’cause he wanted to get into electronic music but he’s a main influence and a great friend. Jimi… Well I never met him but if he was alive I would most certainly know him. Major influence. Clapton… I did his Behind the sun record and played live with him with Elton John at the Hollywood Bowl. WAY cool. Jimmy Page… What a gentleman. He made a point to take me aside and tell me that he really dug my playing, I have never worked with him but I would love to sometime. I felt up my first girlfriend summer of 1969 listening to Led Zepplin 1, hahaha. SRV… never met him but I LOVE his touch. What a player! George Harrison… Well HE is the reason I play the guitar. I met him right after we lost Jeff Porcaro and I talked him into playing with us at the tribute at the Ampitheatre in L.A. What an honor. He took me out to dinner that next year and Bob Dylan was there, Jim Keltner, Jeff Lynne and we had a jam at Jeff Lynne’s house after. What a trip that was.

 

SHORT-LIST OF ARTISTS HE PLAYED WITH/FOR /

 

Among others, he has played with/for:

  • Jimmy Cliff
  • Alice Cooper
  • Gilberto Gil
  • Elton John
  • Eric Clapton
  • Lee Ritenour
  • Barbara Streisand
  • Aretha Franklin
  • Donna Summer
  • George Benson
  • Al Jarreau
  • Quincy Jones
  • Herbie Hancock
  • Michael Jackson
  • Joni Mitchell
  • Lionel Richie
  • Diana Ross
  • Joe Cocker
  • Paul McCartney
  • Chet Atkins
  • Rod Stewart
  • Trilok Gurtu
  • Van Halen

 

PART OF HIS DISCOGRAPHY /

 

http://www.stevelukather.net/Discography.aspx

 

SOME INTERESTING VIDEOS /

2009 will be a complicated year for software

via Judith Hurwitz

One of the first “predictions list” for 2009 for software companies.

Very interesting insights!

  1. Software as a Service (SaaS) goes mainstream. It isn’t just for small companies anymore. […]
  2. Tough economic times favor the big and stable technology companies. […] The only way emerging companies will survive is to do what I call “follow the pain”. In other words, come up with compelling technology that solves really tough problems that others can’t do. They need to fill the white space that the big vendors have not filled yet. […]
  3. The Service Oriented Architecture market enters the post hype phase. […]
  4. Service Management gets hot. […]
  5. The desktop takes a beating in a tough economy. When times get tough companies look for ways to cut back and I expect that the desktop will be an area where companies will delay replacement of existing PCs. […]
  6. The Cloud grows more serious. […] Just as companies are moving to SaaS because of economic reasons, companies will move to Clouds with the same goal – decreasing capital expenditures.  Companies will start to have to gain an understanding of the impact of trusting a third party provider. […]
  7. There will be tech companies that fail in 2009. […]
  8. Open Source will soar in this tight market. […] Companies that offer commercial open source will emerge as strong players.
  9. Software goes vertical. I am not talking about packaged software. I anticipate that more and more companies will begin to package everything based on a solutions focus. […]
  10. Appliances become a software platform of choice for customers. […] More software solutions will be sold with prepackaged solutions to make the acceptance rate for complex enterprise software easier.
  11. Companies will spend money on anticipation management. […] Companies will need to understand not just what happened last year but where they should invest for the future. They cannot do this without understanding their data.

Wow, good food for thoughts!

I am excited also to be able to read the new version of the book “SOA for Dummies”, written, among others, by Judith Hurwitz. Innoveo should have there its own chapter, hopefully ;-)

Business Restaurant in Zürich / Switzerland

I was establishing a list of 3 different choices for a friend of mine, in order to organize a good (whatever that could mean ;-) business lunch with one of his customer.

I am not the “Guide Michelin” but I know some of the restaurants in Zurich, and, to my very subjective mind, these 3 below are very good and interesting, as they are all 3 offering “something special”.

1) CANTINETTA ANTINORI /

 

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2) SEEROSE /

 

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3) TRIIBBHUUS /

 

clip_image006

Surely not exhaustive, the question was “3 possibilities”, not 10 ;-)

10 characteristics of software companies that will fail

via Judith Hurwitz

Extremely interesting post from Judith. She is listing the 10 characteristics of software companies that will make them fail in the coming economical downturn phase.

  1. My technology is so revolutionary everyone will want it.
  2. The platform we offer to our customers is a complete architecture and we’re going to build an ecosystem.
  3. We don’t plan to try to partner with the big players; it’s too hard.
  4. We’d love to partner with a large vendor if they are willing to put our product on their price list and sell for us.
  5. We sell a great tool.
  6. Our technology sells itself.
  7. We sell an entire turnkey environment.
  8. We are implementing precisely what our customers tell us they need.
  9. We are thinking about Software as a Service (SaaS)…but…
  10. We are limiting our outreach in the market. It is too expensive to advertise or market. We’re going to wait until things get better.

So, are you “in” or “out”?

Innoveo Skye, a Swiss made software!

swiss made software

At Innoveo, we are member of the swiss made software community, since our creation.

“swiss made software” is the new label of the Swiss software industry. International software companies like Google, IBM or Microsoft have discovered the Swiss values – quality, reliability and precision – in software development and have established important research and development centers in Switzerland. If you are looking for Swiss values and innovation, openness and flexibility in software, choose your partner from this site.

Our software product – Innoveo Skye – is now also listed in the new product part of the swiss made software website.

Description: Innoveo Skye is a generic, flexible insurance sales solution. It supports an unlimited number of products and services, all lines of business (life and non-life) and all sales channels. Industrialize  
Technology: Insurance-specific, J2EE (TM) based IT solution on commercial (Weblogic (TM), Websphere (TM), …) and open source (JBoss (TM)) infrastructure stacks, together with a wide range of business-oriented services.