Small to medium sized enterprises (SMEs) in the UK are losing billions each year because of crashing IT systems, according to the London Business School (LBS).
A report, compiled in conjunction with computer services firm Connect, found that failing technology is costing firms £31bn each year.
It claimed that the average SME employee spends more than 183 hours a year waiting for IT systems to be repaired.
"The consequences of missed sales and poor customer service can be particularly severe during the Christmas season for those SMEs, such as retailers, which often face a sharp demand increase in this period," said the report.
The LBS estimates that IT failures over the coming festive season could cost SMEs £5.1bn.
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