Chemical Industry Technology Experts: Highlighting Current Trends and Shifting Patterns of IT Spending

The current trends of the chemical industry in investments related to information technology (IT) are discussed. The chemical industry spends approximately 2 percent of revenues on IT but a few companies are expected to increase the amount in 2004. In 2003, the key areas of investments are security and business continuity and in 2004 they will be directed towards customer-facing investments and demand and revenue management solutions. Dow chemical company has reduced IT spending in 2003, but the company focusses on those areas of e-business and customer-relationship management which yield productivity and cost savings.