IT budget cuts limiting growth, BT finds
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Survey conducted by UK telco reveals that reductions in IT spending damaging are limiting businesses' ability to grow revenues
Cuts in IT budgets have prevented enterprises from winning business and have reduced their ability to take-up new technologies, according to a new study by BT's IT services arm.
The survey of 270 CIOs, sponsored by BT Global Services, revealed that a quarter of respondents believe recessionary spending cuts have stifled innovation in their enterprise, while 23% claimed that smaller budgets have impacted on their ability to secure new business.
A high number of CIOs and senior executives who took part in the research said that ageing or inadequate IT solutions had become a barrier to their ability to "think globally" at an enterprise level.
The survey also examined attitudes towards cloud computing among CIOs, finding that over half (53%) 'fail to see how cloud computing can save them money'.
Last month, a Gartner study showed that 62% of chief executives believed 'IT-enabled change' would play a key role in post-recession revenue growth, with 42% claiming that they would increase their technology budgets in 2010.
