The role of technology as an enabler of productivity should not be underestimated, according to the latest PricewaterhouseCoopers Technology Barometer survey.
Conducted in the US, the "Who Will Be Steering the IT Ship?" survey found four in ten business executives plan to increase the share of their operating budgets committed to IT in order to stay ahead of competition.
Businesses currently allocate an average of 7.7 per cent of their annual budgets to IT spending, with 74 per cent of executives considering accounting systems to be their most important IT investment.
Giving technology top marks when it comes to providing companies with strategic advantage, a staggering 32 per cent of executives said they make IT system improvements on a weekly basis in order to steal the march on competition.