In a recent survey by the Mercury Consulting Group it stated that some British boards had frozen ICT budgets because they were seeing insufficient evidence of a return from their investments (ROI).

Typically, to prove an ROI, ICT departments need analysis, management and monitoring tools and resource BUT sometimes no budgets are available for this either.

A slight Catch 22 situation!!

To make matters worse the Economist Intelligence Unit demonstrated in their survey that a gap between the business heads and ICT executives or suppliers still remained, and this gap needed to be addressed to improve the success of ICT projects and set expectations correctly.

Improving customer relationships and cost control were some of the main business drivers while ICT was identified as pivotal to risk management and achieving these drivers.

Bottom line is, ICT is a must have (and must be done right) in order for businesses to be competitive….

Don’t believe me….

Well, recently I spoke with an MD for a famous West Midlands based manufacturer and innovator who told me during an Enterprise Networking event that his business was no longer a manufacturer, it was a marketing company and the only way they could stay competitive is with their ICT investments.

Unbelievably, ICT was the second biggest spend (after patents) within their business and unsurprisingly they are doing very well indeed against their cheaper competition.

But how do businesses make the right investment when they are limited by the available finance or a gap exists between ICT and the business or they have limited resources and in-house expertise.

Well there is a solution…

Let’s address the financial element. Most businesses have already invested or continue to invest in a range of communication and information technologies and services. With advances in technology there are now new ways of providing the same or similar services at a much reduced cost.

New technology itself may bring about changes within the business that in turn brings about cost reductions.

And finally making smart use of finance makes any investment easier to budget and spreads the outlay, achieving a faster return typically.

If done correctly this can result in a system or complete solution at no additional cost to your business!!

What is the catch….

Well, you’ve got to find the right business partner. Somebody that can be trusted, that has the knowledge of the complete sphere of ICT and where its going, that can take a consultative business approach (underpinned by technology) and provide you with a strategy to ensure the success of the project and your business.

Happy hunting...

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