Innovation collaboration key to IT

In light of the current economic turmoil, IT leaders feel that their business partners expect them to deliver innovation to enhance competitiveness, according to a new report.

Recruitment consultancy Harvey Nash surveyed 360 UK CIOs and senior technology professionals on emerging trends in the IT industry.

They found that although innovation is seen as a route to drive competitive advantage and entry to new markets, technology is still relied on heavily to enhance operational efficiency.

The survey also found that whilst innovation was a top priority, 83 per cent of respondents believed that innovative projects that featured collaboration and generated the highest returns were most important.

A further 65 per cent of respondents found that the most significant benefit of innovation is improvements in internal processes, such as cost reductions or efficiency improvements.

Director and chief information officer of practice at Harvey Nash, Bryan MacDonald, said that innovative collaboration was beneficial to the IT industry.

"We are seeing innovation collaboration happening more and more frequently and the more IT leaders collaborate the better the results. IT leaders are collaborating with suppliers and customers to help drive efficiency and create new revenue streams."

The survey also found that the amount invested in innovation also correlates to the chances of success. Those that invested more than eight per cent of their IT budgets (46 per cent of respondents) and those that invested more than 15 per cent (33 per cent) gained a ROI of more than 10 per cent.

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