IT heads of energy trading firms wrestle with budget cuts
Migration to cloud-based solutions considered as budgets fall 20–25% in 2016
Energy trading companies are putting their IT spending under a microscope as they grapple with a tough business environment that has forced them to slash their technology budgets in 2016, IT managers and consultants say.
For instance, the IT team at Gazprom Marketing & Trading (GM&T), the trading arm of the Russian energy giant, has spent the past 12 months conducting a highly granular review of its tech spending in an effort to identify the main cost drivers, says Rob Pringle, the firm's London
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