More than 60% of UK Companies Push Cut Costs in 2024
Recent research from Daisy Corporate Services shows that almost two‑thirds of organisations are tightening belts this year, a jump from the 42% reported in 2023. Why? The answer is simple: price‑pressure is the biggest headache today, with 46% of firms saying “rising costs” top the list of challenges.
Key Findings from the Study (404 IT & Business Leaders)
- Financial Constraints – 37% think money restrictions block progress.
- Legacy Tech Hassles – 31% stuck by outdated systems.
- Cybersecurity Concerns – 27% worry about breaches.
What Companies are Focusing On This Year
- Cyber Resilience Upgrades – 32% want stronger protection plans.
- Digital Business Model Overhaul – another 32% aim to modernise their services.
And there’s a clear push to streamline tech supply chains: 76% see this as a critical or essential effort over the next twelve months.
COO Lyndsey Charlton on the Balancing Act
“IT and business leaders feel the cost pain keenly. While they’re chasing savings, they’re also investing in long‑term resilience to future‑proof operations,” Charlton explains. “It’s no surprise many are eyeing digital models and beefed‑up cyber security. The trick? Doing it all together, smartly and cost‑effectively.”
In short: the UK business scene is tightening budgets, upgrading tech, and fortifying security—all while hoping the changes stick around for the long haul.
Cloud leads the way for 2024 technology investment plans
Tech Investment Trends for 2025
Ever wondered what the future looks like for your tech budget? A recent survey (and a dash of human insight) has given us a clear snapshot: companies are gearing up for a new wave of digital upgrades, but not all of them are ready to ride the wave yet.
Where the dollars are headed
- Cloud Services (63%) – “We’ll be on the cloud or stuck in legacy trouble.” Most firms are punching the clock to sign up for cloud solutions in the next 12 months.
- Cyber Security (47%) – “Secure first, then worry about anything else.” Protecting data is a top two‑seat priority.
- Mobile & Wireless Solutions (40%) – “Phones and tablets before the office.” The mobility score stays strong.
- Artificial Intelligence (37%) – “Smart tech, smart future.” As AI apps grow, 37% of businesses are marking it as a next‑step play.
Tech Benches: The Big Gates on Investment
Even with a keen interest in tech, a few bottlenecks are keeping the cash flow at bay.
- Data Security Concerns (45%) – “My data isn’t safe yet.” This tops the list of hesitations, outweighing even the dreaded budget talk.
- Changing Workforce Dynamics (36%) – “The team’s skill set isn’t matching the tech.” Companies are rethinking dynamics as roles shift.
- Unclear Benefit ROI (33%) – “What’s in it for us?” Without a concrete payoff, many hesitate to commit.
So, if you’re looking to get your organization across the finish line of a tech‑upgrade sprint, start with a clear data‑security plan, keep an eye on workforce skills, and lay out the ROI in plain language. Then you’ll likely win over the majority of those 63% who want the cloud, or the 47% hunting security, or even the 37% chasing AI.
ESG remains a priority
ESG Today: The Corporate Commitment
Turns out most companies are seriously thinking about Environmental, Social & Governance (ESG) obligations. A whopping 78 % say that insisting suppliers meet ESG standards is a top‑priority. And when it comes to keeping gadgets running, 46 % of firms are all in for repairs and refurbishments—a classic “extend the life of the device” win.
Tech: The Secret Weapon
“Technology will continue to shape how organisations operate more efficiently and reach their ESG targets,” Charlton points out. “But if you don’t pair the right tech with the right skill set, you’ll miss out on the full potential.” In other words, good tools paired with savvy teams = a win‑win.
Budget Tightening? Partner Up!
With budgets under the microscope, it’s vital to work with partners who can optimise and future‑proof IT spending. The right collaboration can turn a tight purse into a strategic advantage.
Bottom Line
Companies are not just talking the talk—they’re walking the ESG walk, leveraging technology to keep efficiency high, devices alive longer, and budgets in check. Who knew corporate responsibility could be so tech‑savvy and still punch in a little humour?
