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It's Not Exactly Christmas, But It's Better Than A Lump Of Coal

After a long drought in tech spending, companies are loosening the purse strings--but not necessarily with Sarbanes-Oxley in mind

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So where is it? Where’s the financial bonanza–the next Y2K–that technology vendors were expecting after passage of the landmark Sarbanes-Oxley Act in 2002? It’s going on two years, and no one has yet seen anything close to a repeat of the ballyhooed buying spree of corporate information technology that accompanied the turning of the century.

Software and systems providers–at least half of the 140 surveyed–recently told business advisory firm Meta Group that they were, in fact, disappointed with the sales generated so far. But they need just a little more patience because there are indeed rumblings that financial tech spending is gaining momentum–although slowly and not necessarily as a direct result of Sarbanes-Oxley.

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