Investing in technology key to economic recovery

Posted by Paul Sells

The nation's hopes of moving out of the economic downturn rely on investing in technology, one expert has advised IT outsourcing users.

Roland Harwood, the director of Open Innovation at NESTA, said that total investment in innovation has slowed down during the recession, but there are signs of this picking up as the economy improves.

"However, NESTA recently surveyed 153 senior executives from FTSE 100 companies and found that 47 per cent are doing more innovation now, 42 per cent are doing the same amount of innovation, and only 11 per cent said they were doing less," he explained.

The specialist's comments came after IDC published a new report revealing that IT has helped during the recession and will play a pivotal role in the global economy's recovery and transformation.

Mr Harwood said that the fastest-growing trend identified within the survey was open innovation, with many multinational organisations making it a key strategic priority.