A report published by Virgin Media Business claims more than half (57%) of UK firms are planning to increase their IT budgets in 2014.
The company surveyed over 1000 tech bosses in both public and private sector organisations across the country.
According to the research, technology is seen as a cost cutting driver, with over a fifth quoting this as a key benefit.
Besides this, it was also praised for its ability to improve communications.
A largely positive attitude towards IT in the workplace was also revealed: 26% claimed tech investment had increased productivity, while 11% reported “a happier workforce” as a result of increased spending in this area.
The group claims a happier workforce has a knock on effect of driving better employee engagement and lower levels of attrition.
“If digital can improve an organisation’s productivity by 10%, think about what that can do for the overall performance of that organisation, its employees and its customers,” claimed Virgin Media Business Managing Director, Peter Kelly.
“That 10% equates to an extra 25 days a year,” he added, citing examples of how this would increase the number of parcels a logistics company could deliver, or the number of families a care worker could support.
On the other hand, 21.5% of the firms questioned admitted to making no IT investment at all last year, while organisations not based in a city complained of slower Internet speeds.
Despite this, Kelly concluded, “Digital really can change the game for good.”