16/02-04   -   Pressmeddelande

Vertical Specialization Key to IT Vendor Success in the Western European Financial Sector, Says IDC

MILAN, February 16, 2004 - According to a new IDC study exploring IT vendors´ competitive landscape in the Western European financial services sector, IT providers are increasingly verticalizing their go-to-market strategies to better position their offerings in the attractive financial market.

As the financial sector continues to be one of the most attractive and dynamic markets for the IT industry, the creation of a specific approach for banking, insurance, and other financial institutions is key for IT vendors to successfully operate in this industry.

"The adoption of new standards, the rationalization of internal processes, the integration of back-end to front-end activities, and the coordination of widespread activities over multiple channels are strong drivers for the implementation of modern IT solutions in the Western European financial sector," said Raffaella Molignani, financial services research analyst with IDC´s European Vertical Markets group.

IDC´s study highlights how the financial services sector requires high levels of specialization. Selling to financial institutions in general and banks in particular is complex and requires the implementation of a real vertical-specific strategy. IT vendors must develop into well-known brands and improve their visibility as well as build up proactive, specialized marketing and selling teams that enable the establishment of a strong presence in the industry.

In order to develop vertical-specific solutions, partnerships are usually set up to quicken this process and focus on core competencies. Top vendors are at various stages of this process. However, IDC believes that in the medium to long term most of them will create go-to-market approaches specific to banking, insurance, and other financial institutions.

IDC´s Western European Financial Services, IT Vendors Competitive Assessment, 2003 (IDC #PF12K, December 2003) examines the competitive landscape in the Western European financial sector. The analysis aims to describe the strategic approaches that top IT vendors are following to compete in the market to satisfy the needs of financial institutions.

The study provides a brief introduction to the overall business, a description of offerings, and the go-to-market strategy of several IT vendors, namely Accenture, Cap Gemini Ernst & Young, Cisco, CSC, Dell, EDS, HP, IBM, Microsoft, Oracle, SAP, Siemens Business Services, Sun Microsystems, T-Systems, and Unisys.

To purchase this document, please contact your local IDC office.

About IDC
IDC is the premier global market intelligence and advisory firm in the information technology and telecommunications industries. We analyze and predict technology trends so that our clients can make strategic, fact-based decisions on IT purchases and business strategy. Over 700 IDC analysts in 50 countries provide local expertise and insights on technology markets. Business executives and IT managers have relied for 40 years on our advice to make decisions that contribute to the success of their organizations.

IDC is a subsidiary of IDG, the world´s leading technology media, research, and events company. Additional information can be found at www.idc.com
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For more information, contact:
Raffaella Molignani
+39 02 284 571
rmolignani@idc.com