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Short clip: Verizon invests in growth over cost-cutting

Shadman Zafar, CIO of Verizon Telecom, describes how the company is responding to the current economic downturn by investing in growth and innovation as opposed to cost-cutting and automation.

>> You're occupying the office of CIO at Verizon at a unique time. How is your IT department coping with the current economic downturn? Has the current recession changed your strategy from one of growth to say a defensive position?

>> Actually the other way around I would say. I think a lot of companies especially IT departments are focused on cost cutting, how to automate one piece how to automate another thing and we obviously focus on that a lot but I would say one of the things that differentiates the Verizon Telecom IT is that we are we consider ourselves and continue to drive as a growth engine of the business as opposed to just a automation and cost cutting or just a back office and in this economic down turn it has actually given a lot of chance for the IT employees to shine in that area where you can create products which are very cheap from capital perspective but create tremendous value for the end customers enhance, generate you know the top line drill as opposed to just focusing on the bottom line.

>> So in other words the types of investments you're making have shifted a little bit then in this current climate?

>> I would say certainly. The technical investments on growth initiatives are as high if not higher as they are on sort of cost management efforts.

==== Transcribed by Automatic Sync Technologies ====