UK businesses are not investing in IT innovation because they are more comfortable just letting things tick over.
A survey carried out by Fujitsu revealed that 67% of British businesses said the fact that it is "too easy to keep things ticking over", is the primary reason for not investing in IT innovation. Cuts in IT budgets was a major reason for not investing in IT innovation for 47% of businesses surveyed.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
The under-investment looks set to continue, according to the findings. Only 23% of the IT budget is spent on innovation, compared with 38% spent on operations and maintenance.
This is only expected to increase by 1% or 2% next year.
Duncan Tait, managing director of Fujitsu's private sector business, said the current investment in innovation might be too low.
"The 'keep calm and carry on' mentality is not enough. In uncertain times businesses need to be prepared to fight, adapt, be agile and innovate in order to compete successfully both nationally and internationally."
- 36% of companies said business intelligence is either their first or second priority for investment over the coming year
- 44% of financial services businesses said business intelligence is either their first or second priority for investment over the coming year
- 40% of retail companies see cloud computing as a key investment area in 2011
- 41% of financial services firms see application transformation as being high up the agenda.