FOR IMMEDIATE RELEASE
For information contact:
Amy Krigman
Topaz Partners
akrigman@topazpartners.com
781-388-7900, ext. 203
Carol Greenfield
Massachusetts Software Council
carol@masoftware.org
617-437-0600, ext. 14
FINANCIAL, TECHNOLOGY LEADERS SEE
IMPROVEMENTS IN TECHNOLOGY MARKET IN 2004
Federal Reserve Bank of Boston President, Technology Industry Executives
Address Mass Software Council Members at Annual Meeting
Boston, MA – January 15, 2004 – Speaking at the Massachusetts Software Council’s annual meeting, Cathy Minehan,
president and CEO of the Federal Reserve Bank of Boston, Gary Beach, publisher of CXO Media and CIO
Magazine, and John Landry, chairman and CTO of Adesso Systems, Inc., offered their insights on the economy and the technology
industry for 2004, highlighting signs of continued improvement in the technology
business.
The Council also announced the appointment of Paul Egerman, CEO of eScription, as
the new chairman of the Board of Trustees, and the election of four new Board
members. The new Board members are Lynda M. Applegate, the Henry R. Byers professor of business administration at Harvard
Business School; Eileen M. Rudden, vice president and general manager of Avaya Inc.; Shirley Singleton, president and
CEO of Edgewater
Technology; and Jeff Taylor, founder of Monster Worldwide, Inc.
“Data suggests that high technology will begin to pick up and look alive in 2004,” Minehan
said. “Capital spending is recovering. Businesses are becoming profitable. That’s good news
for the technology sector.”
Citing results from the CIO Magazine tech spending poll, Beach said, "The demand side is
there, but cautions optimism is still the name of the game. Businesses are continuing to create
information, which will drive technology spending in 2004. This is a fortunate time for the industry."
Landry delivered his predictions for the year's hottest technologies, including storage, wireless
networks, standards and tools. "It will be a big year for technology in some unexpected sectors,
including the overhauls of the PC."
"Our guest speakers indicated that there are positive signs that 2004 will be an important year for
the software industry," said Egerman. "The Council will continue to support the growth and development
of the software businesses in Massachusetts by providing crucial business intelligence on the outlook
for the regional and national economy, IT purchasing patterns, and the impact of new and important
technologies on business. The insights shared by Cathy Minehan, Gary Beach and John Landry help us better
prepare for the opportunities and challendges ahead."
About the Massachusetts Software Council
The Massachusetts Software Council is the leading technology trade association in
the state, dedicated to assisting entrepreneurs in starting, managing and
growing software companies and to helping Massachusetts software companies be successful in global
markets. Currently there are approximately 600 member companies. Founded in 1985, the Council addresses the
key issues faced by senior executives in running technology companies: growing revenues, improving the bottom line,
securing funding, anticipating technology trends, and connecting with the network of people, ideas, and resources
that can help them achieve success.
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