Small business warning over wasted IT budgets
IT budgets are beingsquandered on pointless projects, CIMA warned today.
IT budgets are beingsquandered on pointless projects, CIMA warned today.
Research carried out by CIMA reveals that manyorganisations – especially SMEs – are failing to justify their ITinvestments against the financial benefits derived.
70 per cent ofrespondents claimed their IT spend this year has been above average.
Tony Dart, CIMA Technical Director, said: ‘Thefindings of the survey are complex and surprising, given thatthe cost of IT equipment has dropped and capacity has risen.
‘Companies cannotbe spending wisely. An investment must – in the end – deliver a return.This is generally acknowledged except in the case of IT.
‘The difficulty for smaller businesses is that theydo not have the resources to assess their investments inadvance and so often make mistakes. He added: ‘Part of the problem lies with initiatives where small businesses are encouraged to invest in IT but arenot neccessarily encouraged to look at the business case for doingso.’
Audit threshold raised to £1m – £4.8m threshold to follow
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article