Global firms are not devoting enough time, budget and commitment to safeguarding core IT skills.
A study of 450 large firms by enterprise application management firm Micro Focus, in conjunction with international business school INSEAD, was carried out across France, Germany, Italy, the UK and the US. The study was carried out amongst CFOs, CIOs and HR directors at the firms.
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Micro Focus says vital skill-sets to manage and maintain core IT assets are being marginalised by the world's leading companies.
Many of these organisations are focusing on IT skills for newer Web 2.0 technologies, at the expense of the crucial skill-sets required to future-proof the core systems critical to the successful execution of operations.
Stephen Kelly, Micro Focus CEO, said, "The important step now for global organisations is not to be completely entranced by shiny new technologies and ensure they are also recruiting the professionals that will maintain, and develop the lifeblood of their IT - their core systems and information.
"Failure to safeguard these assets is tantamount to a ticking time bomb for global business."
The survey found that 60% of CFOs, CIOs and HR directors thought core systems and databases were business critical, compared with only 38% who felt the same about systems using new technologies.
However, despite reinforcing the importance of core IT assets to business success, respondents revealed that it is the newer technologies that are receiving budget when it comes to recruiting skilled IT professionals.
More than half of all those polled (56%) confirmed newer, web-based technologies are the skills being recruited the most today.
Less than one in seven (13%) of CFOs are very confident that the knowledge and skills exist within their organisations to maintain core IT assets into the future.
Despite this, nearly two thirds (60%) of CFOs surveyed highlight that in a recession, skills to modernise core IT assets are the most valuable, rather than skills to implement new replacement technologies.