UK enterprises looking to reduce technology costs

New research from Daisy Corporate Services has revealed 42 per cent of enterprises are prioritising reducing costs over the next year, due to ongoing economic uncertainty.

The study also found more than a third (37 per cent) of enterprises identify establishing or improving a digital business model, and driving revenues (36 per cent), as their other main priorities.

The survey of IT and business leaders found that organisations continue to concentrate on cybersecurity, with a quarter citing protection against cybercrime as a key priority for the next 12 months.

Lyndsey Charlton, COO at Daisy Corporate Services, said, “There is no doubt that it is a challenging landscape for many businesses right now, with economic concerns and heightened cybersecurity threats adding pressure. Any moves made by enterprises to introduce new technologies and digital models must be carefully considered.

“It’s crucial that investments are underpinned by robust cybersecurity that safeguards the business – as the financial and reputational damage of a security breach could be costly.”

The study also revealed that almost half of IT and business leaders believe inefficiencies throughout their business create a blocker for success. However, just over a third (38 per cent) believe that new technologies can help improve operational efficiency.

Business-wide expenditure on technology is expected to continue over the next 12 months, with 33 per cent confirming that introducing or improving technology transformation is their investment priority.

A third of businesses say they will prioritise investment in cloud and hosting services, and a further 29 per cent plan to focus is on unified communications solutions. With a clear emphasis on modernisation, replacing legacy IT technology is the priority for a quarter of enterprises.