Risk Adverse is Short Termism

Adrian McNay, Managing Director of Touchstone asks why do so many UK organisations continue to jeopardise long term business success rather than risk new technology adoption?

“While the rest of the world is actively embracing innovation in a bid to attain an edge in a highly competitive global economy, here in the UK businesses continue to cite the danger of implementing leading edge technology as a major barrier to change.

This attitude is not only outdated but, frankly, an extremely weak excuse for failure to invest and this endemic aversion to risk fundamentally compromises economic and competitive viability for UK organisations. Today’s plug and play, highly commoditised web solutions have transformed the technology landscape. Yet traditional IT-led, minimum risk, technology-led investments can only result in limited benefits. Should the IT department really determine business success?

It is only by defining the real opportunities for business innovation and competitive advantage that organisations – and their IT vendors – can determine the most appropriate new technology solutions to enable business transformation.

In today’s risk free environment, it is little wonder that technology spend rarely exceeds 2.5% of annual turnover on technology when organisations are loath to attribute any value to innovation. But if the UK is to compete with rapid global change, a little well-judged risk will be essential to step outside the bland, “me too” technology solutions that typify the current market.”