BT Global: Lack of IT investments hurt businesses

A BT Global Services Enterprise Intelligence survey called "Enterprise Intelligence: The challenge for the CIO in 2010" revealed that cutbacks in IT spending during the current economic downturn had the negative effects of lost customers and stifled innovation.

Conducted by research firm Datamonitor across 13 countries, a quarter of senior business executives that participated in the survey said that IT budget cuts harmed innovation, while 23 percent said IT budget cuts prevented them from signing up new customers. Meanwhile, 27 percent said their inability to find the right information when they needed it cost them business during the economic downturn.

The biggest revelation of the joint Datamonitor/BT Global study, which surveyed over 2,400 IT users and 270 CIOs, was that nearly 61 percent of CIOs and 63 percent of senior executives said outdated IT systems have hampered their ability to 'think globally.' At the same time, 57 percent CIOs and 60 percent senior executives also said that poor software solutions were also an inhibitor.

For more:
- see the release here

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