Companies investing in tech projects again

The financial sector in particular is starting to invest in key technologies

Organisations are starting to reinvest in key technologies such as networks and teleconferencing, and business practices like outsourcing and flexible working, according to a new report from BT Global Services.

The company said that the most "technologically innovative" businesses are in the financial services sector, which had suffered the worst and the longest during the recession.

Some 92 per cent of companies in this market told BT that they are investing in at least one of a list of technologies suggested to them. These are network technology, outsourcing technology, teleconferencing and/or video conferencing, flexible working, sustainable and/or green systems, automated customer contact, cloud computing and/or software-as-a-service systems.

Andy Nicholson, managing director of financial services at BT Global Services, suggested that companies investing now as the recession eases will be in a better position to capitalise when the recovery arrives.

"In spite of the economic downturn, sentiment within the financial industry is actually buoyant, according to our research. It is evident that the financial downturn has forced some changes, and that not all of these are negative," he said.

Around 52 per cent of companies in financial services are investing in faster and more reliable network technology in order to maximise their recovery, BT said, while just under half are spending on enabling flexible working, and just over a third are spending on teleconferencing and videoconferencing tools.