September 30, 2010 – Installing software and related systems that achieve compliance with new or expected financial and privacy regulations is driving Fortune 500 spending on technology during the recession, according to a presentation made this morning to the Wall Street Technology Association.
“Compliance is not sexy. People don't talk about it, but they sure spend on it,'' said Robert Galluci, general partner of Landmark Ventures, which assesses new businesses and helps raise capital for emerging technology firms. "Increased regulatory demands are the new stimulus package. The feds are going to (continue to) increase regulation, which will drive compliance budgets so high that it's going to represent the new trickle-down economy."
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