ANZ’s IT Spend Went Up By $95 Million

ANZ’s IT Spend Went Up By $95 Million
To sign up for our daily newsletter covering the latest news, hacks and reviews, head HERE. For a running feed of all our stories, follow us on Twitter HERE. Or you can bookmark the Lifehacker Australia homepage to visit whenever you need a fix.

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,


  • Not necessarily good news for IT jobs. Software licensing expenses most certainly doesn’t translate to jobs in Australia. As for outsource providers, who knows, though it may not amount to additional jobs either. Depreciation is an expense on paper so definitely no jobs. I’m not really sure about data storage, but it would depend on whether it’s local storage in Australia or overseas cloud storage.

  • The amount wasted on failing, failed and poorly performing technology projects would be a more honest explanation.

    Also not good news for employment, as ANZ has steadily been outsourcing and offshoring for a very long time now (without any significant media attention), especially in technology in recent years.

Show more comments

Comments are closed.

Log in to comment on this story!