The study, part of a multi-year research programme run jointly by the LSE and Dell, identified that the top three key factors in delivering a more effective use of technology are better IT project management, standardisation of technology and better integration of existing applications.

Unsurprisingly, better IT training was also cited by more than a quarter of respondents as a factor that could help in making IT more effective.

The LSE survey was carried out among CIOs and business leaders in the UK, US, Japan, India, China, France and Germany. It found half of executives believed they could save more than 5% of their annual budgets by improving IT efficiency and reducing waste.

"When speaking to CIOs and IT decision makers across the globe, a common theme of stopping IT waste and unleashing resources consistently arose," said the report's author Dr. Jonathan Liebenau of the LSE. "Companies clearly place value on efficiencies through technology and new management practices, but many struggle to define the return to the business." 

In fact, worryingly, more than 30% of the study respondents were unable to specifically quantify the value derived from IT, which given the target group, has to be a significant cause for concern!

Source: Parity Training