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IT contractors working in cybersecurity and data analytics could find themselves in high demand, as finance companies look to increase their spending in these areas.

According to latest findings from specialist recruitment firm Robert Half, the economic upturn has allowed many UK companies to invest in growing and improving their business.

The survey asked 100 UK Chief Financial Officers and Chief Operations Officers: “In which of the following areas does your business anticipate increased spending in 2014 over 2013 levels?”

The Robert Half report revealed that the majority (52%) of Chief Financial Officers (CFOs) in the financial services sector plan to increase spending on cybersecurity, while 43% will spend more on data analytics and mining.

Other areas that financial services CFOs plan to increase spending include: Regulatory reform (39%), IT investment to enable growth (39%), digital areas, such as website, online banking and user experience (30%) and product development (13%).

Almost two thirds (64%) of large UK businesses plan to upgrade technology to improve customer experience whilst 44% of small businesses are looking to streamline business processes to further benefit their customers.

Neil Owen, Practice Director, Robert Half Financial Services, said, “While cybersecurity is absorbing the lion’s share of budgets, regulatory reform is driving the hiring agenda, with companies accelerating recruitment efforts yet facing a shortage of professionals with the requisite skills and experience.

“Businesses that successfully implement an integrated governance, risk and compliance programme (GRC), thus aligning resources to business demands, should be able to drive efficiencies, reduce duplication of efforts and realise potential cost savings.”

Simon Dolan is the Sales & Marketing Manager for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
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