Seven out of 10 European IT decision-makers see Brexit as a business opportunity
Interoute, a global cloud and network provider, has revealed new survey results showing almost two-thirds (63%) of businesses across Europe are anticipating high growth in the year ahead.
Despite its turbulent outlook, the UK was only slightly behind the European average at 61%. As the political climate presents opportunities for those countries and companies that can move at pace, on average 70% believed Britain leaving the EU was an opportunity for their company.
In the survey of more than 800 European IT decision-makers, business confidence surrounding Britain leaving the EU was highest in France (83%) and Belgium (78%) but lowest in Sweden (49%). While the outlook surrounding Brexit was generally positive across Europe, 63% of IT leaders anticipate it could ultimately result in the disintegration of the EU. In Germany (78%), France (70%) and Italy (66%) this belief was significantly stronger.
Given the changing political climate, 95% admitted Brexit specifically had impacted their decision-making process. While, 96% said the overall current political uncertainty in Europe (e.g. US and Russian foreign policy) had impacted their decision-making. As organisations have been forced to respond to the changing business landscape, the majority of IT leaders have shifted their infrastructure choices to focus on driving more agility. In total, three in five European organisations (61%) are pursuing new digital transformation projects. The UK follows closely behind the European average with 60% of IT decision-makers investing in technology that allows them to continuously innovate and maintain a competitive edge.
Across Europe, the top drivers for digital transformation projects were cited as reducing costs by improving operations (46%), enhancing the employee experience through more mobile and social capabilities (45%) and improving the customer experience (41%). However, in the UK, enhancing the employee experience emerges as the top priority for nearly half of the companies (45%), which may indicate a desire to improve employee productivity and create great customer experiences.
Matthew Finnie, CTO of Interoute, commented, “The UK and mainland Europe is in the middle of a period of political uncertainly, which is impacting IT decision makers across all sectors. The more ambitious organisations see this as a time of opportunity where the right technology investments will result in high growth and an enhanced experience for employees and customers alike. Changing foreign policy politics, Brexit and even new GDPR regulations are forcing organisations to review the legal, financial and operational aspects of their business.
Digital transformation is about creating an organisation that is flexible enough to respond to market and geopolitical changes. Organisations that move now to ensure they have the right digital infrastructure foundation in place will undoubtedly be the best placed to succeed in these uncertain times.”