So much for the theory that everyone in IT is being asked to do even more with less money. In ANZ’s half-yearly results, technology expenses went up $95 million compared to the same time a year ago.
ANZ picture from Shutterstock
That’s a 16 per cent rise relative to the same time last year, and a 7 per cent rise compared to the previous half. ANZ blamed the rise on “increased depreciation and amortisation, higher data storage and software licence costs and the increased use of outsource providers”. Total technology infrastructure spend in the half was $437 million, down 24 per cent on the previous half.
ANZ’s spending doesn’t look quite as efficient as Westpac’s, which we looked at yesterday. One factor in common? Both saw spending go up because of outsourcing,