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Many IT leaders in the energy sector and primary industries are dealing with a classic case of complexity resulting from legacy systems and continual cost pressures that hinder modernization. Embark on a long-term strategy to reduce complexity within the existing IT infrastructure and pursue outsourcing relationships to set the stage for continued cost efficiencies.
Legacy Support Stalls New Investment
Despite record profits in the energy sector among large players such as Exxon and EnCana in Canada, many smaller players are experiencing more volatile conditions. Certainly there are many oil and gas, hydro, and primary industry enterprises (including utilities as well as natural resource companies) that are feeling the squeeze. Increases in demand and rising operating costs mean that executives are once again challenging IT to reduce costs and improve efficiency.