As more and more companies seek to conduct significant business over the Internet, they face the problem of making their applications work with those of their customers and suppliers.
Insurance industry powerhouses including American International Group Inc., The St. Paul Cos. and The Hartford Financial Services Group Inc. are stepping up efforts to cut paper from operations with a breadth of Web-based projects that are just going live, but are part of a new automation trend among large insurance carriers.
Citing overcapacity for processing online trading orders in light of the recent stock market sell-off, Charles Schwab & Co. Inc. yesterday announced plans for major job cuts amounting to 11 percent to 13 percent of its workforce.
Corporate tax departments have often been the last in line for big boosts in IT investments, since the process of preparing taxes is so labor-intensive that it's seen by many companies as a fixed cost.