CXO Systems Study Shows Inability to Easily Retrieve and View Enterprise Information Delays Decision-Making Process for CIOs.

Business Editors/High-Tech Writers

WALTHAM, Mass.--(BUSINESS WIRE)--June 30, 2003

Results from Study of CXO Systems' Peer Visibility Network Highlight Need for One-Touch, Real-Time View of Enterprise Information

Executive-level IT professionals lack quick access to information they need to make important decisions, according to a recent study by the Peer Visibility Network, a division of CXO Systems, a provider of executive dashboards for a one-touch view of enterprise information. The average CIO surveyed currently spends more than 13 hours per week acquiring the information they need for decision making.

The Peer Visibility Network survey examined the information acquisition process of IT executives at some of the largest businesses in the world. As expected, the results show CIOs and other high level executives seek substantive information before making decisions on technology purchases, business processes and other issues that will impact the financial performance of the company. However, this information is often difficult to acquire because it exists in multiple disparate databases or on an employee's own desktop. As a result, IT executives spend considerable time seeking information via phone and email communication, wasting valuable time and resulting in stale, filtered information.

"The study shows that senior executives demand thorough and accurate information to make important business decisions but they do not have access to a real-time, one touch view of the information," said Malcolm Frank, CEO of CXO Systems. "In the past, the high cost of integrating these systems hindered the information acquisition process. Today, organizations can leverage Web services for a real-time, one-touch view of the enterprise, significantly reducing time spent retrieving information."

Additional results from the survey give further insight into the disparate nature of critical business information in today's enterprise, and the difficulty executives have in finding necessary information. Results from the survey include:

-- 40 percent of the CIO's surveyed spend 13 or more hours gathering information to make a single decision;

-- Nearly all CIOs rely on phone or email communication with employees to obtain relevant information;

-- Most CIOs rely on recommendations from staff, who have first-hand knowledge, to make critical business decisions;

-- Availability, not importance, most directly impacts the frequency in which information is monitored. For example, most CIOs monitor finances weekly or occasionally at best, but 98 percent of respondents report that it is a very important area to monitor;

-- In the past, one reason CIOs did not have easy access to review information more frequently was a perception that a central information system was too costly to implement.

The results of the study show a clear need among senior level executives for a cost-effective dashboard system that provides easy-to-read and access reports on project status, strategic objectives, business information and technology infrastructure performance. The CXO System, CXO Systems flagship product, leverages Web Services to provide a complete view of all information across an enterprise, ensuring executives have access to the real-time information they need to effectively manage their businesses.

For more information on the survey or the Peer Visibility Network please visit www.CXOSystems.com.

About CXO Systems

CXO Systems is a provider of executive dashboards for a one-touch view of enterprise information. The company is focused on providing real-time information delivery and reporting technologies to enable greater organization-wide visibility of information and superior levels of corporate governance. Combining the latest in Web Services based technology with real-time business intelligence; CXO Systems has become the designated leader in Enterprise Performance Dashboard solutions. CXO Systems is headquartered in Waltham, Massachusetts with development centers in Sunnyvale, California, and Pune, India. For more information, please visit www.CXOSystems.com.