Ernst & Young Ranks High For Tech Innovation
Information Week magazine has published its annual InformationWeek 500 list of the 500 companies that are providing leadership in the technology field. Big Four accounting firm Ernst & Young not only made it onto the list but into the top 50, ranking 26th of the 500. KPMG Consulting (now BearingPoint) also appeared on this list, ranked at 306.
Firms are ranked according to patterns of technical, operational, and organization innovation. Particularly in these tough economic times, firms that found innovative methods for taking advantage of technology while cutting back on costs, and firms that have discovered ways to use technology so that it positively impacts net earnings found their way onto the list.
Companies that ranked high found better ways to share data with customers, speed data collection, secure data against hackers, speed research, and keep technical staff motivated.
The survey analyzed companies with annual revenue of $1 billion or more. The average InformationWeek 500 company spends about 3.4% of annual revenue on IT. That translates into an average of $320 million, way down from the average $484 million was spent a year ago. Included in that spending are salaries and benefits (28%), software applications (21%), new products and technology (20%), consulting and outsourcing (18%), and research and development (2.5%).