The appeal of a prestigious address pales in the wake of advances in technology, a new study by TalkTalk Business suggests, with upgraded IT topping new office space as the choice investment for businesses with limited funds.
42 per cent of British firms believe their business would be most disrupted without access to the internet and data services, according to the survey of more than 500 company owners and senior directors across the UK, with nearly a third (31 per cent) citing faster connectivity as the technology investment that would have the most positive impact on company performance.
The research has inspired TalkTalk Business to commission an in-depth study in partnership with the Corporate IT Forum analysing the direct impact technology has on delivering key business objectives. The study is due to be published towards the end of Q3 2012.
The findings announced today also reveal that IT departments have such a critical role to play in an organisation that 46 per cent of British businesses liken their IT departments to the A Team – always there in a crisis, ready to save the day!
But pity the foolish; in spite of the role played by technology in riding to the rescue, it’s not receiving the necessary investment. One third of company directors surveyed do not think they need to invest in their IT and technology systems in order to ensure their business continues to perform in the future, and only half think that the person in charge should be a board-level director.
On the flip side, three quarters (73 per cent) acknowledged that rivals who do choose to invest in technology are believed to have a firm advantage over those who prioritise other areas of the business, such as marketing and human resources.
Charles Bligh at TalkTalk Business said: “This research points to the critical role IT and telecoms technology plays in maintaining business performance, which may come as a surprise to some companies and certainly underestimated by others.
Bligh continued: “The study identifies that being more progressive with a company’s IT and telecoms strategy can elevate a company over their competitors, which in a rocky economic climate can pay dividends. Savvy investment in the right technology and business grade connectivity services can not only help to boost staff productivity and improve efficiencies today, but when delivered over a Next Generation Network, will provide future-proof solutions that continue to perform as your business grows and succeeds.
“We’re keen to better understand the real role technology and the associated connectivity infrastructure plays in helping organisations meet their goals so we’re working with the Corporate IT Forum on a report which we hope will provide a useful benchmark for businesses looking to make wise investments at a time when funds are likely limited.”
Financial Services organisations are the most likely to invest in IT and Telecoms technology, while improvements in this area fall behind product research and development, additional staffing and improved wages in the areas numerous other sectors would choose to invest.
As many businesses look to reduce overheads and prioritise limited funds, the findings have been issued as a warning to British companies to promote technology within their business strategy, and have prompted a full scale report commissioned by TalkTalk Business working with the Corporate IT Forum to investigate the impact this has on company performance. Businesses can take part in the study here.