Irish firms 'plan to invest further in IT'

News Article - 27 February 2008
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Around 57 per cent of Irish businesses are planning to invest more in technology this year, according to a recent survey.

The research, conducted by KPMG and the Sunday Times, is perhaps a surprising amid reports of decreased business growth and global market instability, according to accountingnet.ie.

Paul Toner of KPMG stated that the results were "encouraging", explaining that technology which does not fully support a company will make it difficult to control costs, will impact upon customer service and as a result reduce that business's competitive edge.

Following a report by Accountancy Age which claimed that firms want stability and reliability from their accounting software providers, Mr Toner remarked: "A delayed or problematic technology project can delay the associated benefits and end up as an unwanted distraction. Businesses recognise this, unfortunately some from bitter experience."

Areas of strong business performance for 2008 were predicted to be growth within existing customer bases and measures to reduce costs, according to KPMG's survey.

Mr Toner commented that both of these business goals could be achieved through investment in technology.

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