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Budget cuts are keeping UK businesses away from new tech

(Image credit: Image Credit: Peshkova / Shutterstock)

Almost two thirds of IT decision makers in the UK (61 per cent) think budget cuts will leave a mark on their IT investment abilities. 

This is according to a new report by Sungard Availability Services, which also reported that almost half (48 per cent) of those surveyed expressed worries that their security could also be affected by budget cuts.

What makes these results even more interesting is the fact that the UK, besides Canada, is a country least concerned with issues of being compliant with security regulations.

Less than a third (32 per cent) of UK IT departments see it as one of their biggest business challenges.

With 12 per cent of UK IT decision makers saying their budgets are decreasing, ‘it is perhaps no surprise that 27 per cent of IT time is dedicated to innovation, whilst over half of time (64 per cent) is taken up with day to day tasks’, the report says.

The report says that businesses looking for ‘tangible contribution to their organisation’s business outcomes’, should spend day-to-day time innovating, leverage a bimodal IT model, invest in emerging technologies and proactively work with other lines of business.

“There’s no escaping the impact that technology has on a business, and almost every organisation surveyed, across all sectors, will have to adopt new technologies to remain competitive and achieve growth,” said Keith Tilley, EVP and vice chair, Sungard Availability Services.

“Successful identification and adoption of the right digital strategies will depend on IT leaders having the confidence and backing of their fellow board members to make the investments needed to unleash technology’s potential to transform their business. While this research points towards this being a global problem, with the challenges posed by Brexit and GDPR compliance on the near horizon, British business need to prioritise their IT strategies to address perceived gaps. Only those who understand the value of doing this will ultimately storm ahead to secure their competitive advantage.”

Image Credit: Peshkova  / Shutterstock