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CEO Predictions
Released 17 December 2002

Senior Australian IT leaders are predicting 2003 will end the two-year doldrums that have beset their industry globally. CEOs for major IT companies represented by Impress Media Australia predict that 2003 will provide a return to prosperity for IT organisations.

In areas as diverse as wireless networking and venture capital, website analytics and online freight management, IT executives are predicting an end to the tough times as businesses return to reinvesting in IT infrastructure as global growth builds.

However, a recurring theme among the CEOs is that the golden days of double-digit growth as a reward for just releasing new products are gone for good. They agree success in the New Year is about a rewarding return on investment rather than simply sexy software.

Prophecy International CEO Alan Greig

Prophecy International is an Australian-based multinational that develops software used by large and complex organisations worldwide. Its software is used in Australia, Asia, the US, the Caribbean, Britain, Europe and South Africa. Clients range from ANZ and the Government of SA to National Express in the UK and the State of Colorado in the US.

"Businesses will be looking more for a return on investment from their existing technology rather than buying technology because it is new. The years of the technology chase are past and vendors have to demonstrate an investment benefit more so than ever," said Prophecy International CEO Alan Greig.

"Of particular significance to us is the Java development tool market which is expected to experience significant growth in 2003 and beyond," he said. "More and more companies are adopting Java as the platform of choice as it offers huge flexibility especially for web based applications.

"The IT industry is heading for a interesting new year. The US IT industry will start to pick up mid to late next year, but Australia seems to be leading the US with some significant opportunities coming into the market now. Again the successful vendor will have to demonstrate more than just technology. Still, I expect the Australian market to start picking up in the first and second quarters of 2003."



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