Recession Forces Businesses to Slice Budgets

Expert Reveals How Technology Can Help Companies Cut Costs

NEW YORK, NY--(Marketwire - October 20, 2009) - The economy isn't getting better. It's simply "less bad."

That's the news from the latest round of economic statistics that show 73 percent of the Standard and Poor's 500 Index companies beating their revenue expectations, but an overall view that the S & P 500 is still down 27.3 percent since last year. In August, 216,000 jobs were lost, slightly fewer than the 276,000 lost in July, but the overall losses over the last 20 months of recession represent a still-abysmal job market.

As the economic drain wears on, companies aren't simply concerned about cutting their costs to stay in business, but where to cut those costs.

"These are not easy choices," said Arkady Kleyner, Co-Founder of Intricity, LLC (, a leading provider of Business Intelligence and Data Warehousing services and solutions. "Many large companies have had the recent experience of being forced to cut back and simplify their internal processes in order to emerge from slow economic times which have led to bankruptcy and financial restructuring. Executives need to be able to get a bird's-eye view of their business in order to know where they can afford to cut -- as well as where they can't."

Kleyner believes that good IT infrastructure and data management can be the key to making a company's operations easily understandable and transparent.

"Good data management has the power to simplify complexity, to break down a company into its component parts, so executives can examine them individually, as well as how they work together," Kleyner added. "Slower times force us to look inwards. This applies to large corporations as much as it does to personal budgets and home finances. When the orders were flowing, we threw tools and people at the problems until a workable solution appeared to emerge. Efficiency, automation and integration fall behind agility in priority. This is normal because agility is often what gets new business. And without new business, the organization stagnates and ultimately fails."

About Arkady Kleyner

Intricity Co-Founder Arkady Kleyner is responsible for the overall technology focus, company direction and the management of delivery capability and personnel of Intricity. He has more than 20 years of experience in engineering/architecting, developing and deploying the most intricate enterprise business solutions, focusing strongly on the financial, pharmaceutical and all IT organizations.

Contact Information: Contact: Rachel Friedman