Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Business
    3. >Scalability is key to growth as 85% of businesses agree IT is restricting their potential
    Business

    Scalability Is Key to Growth as 85% of Businesses Agree IT Is Restricting Their Potential

    Published by Gbaf News

    Posted on August 9, 2018

    6 min read

    Last updated: January 21, 2026

    Add as preferred source on Google
    This image illustrates the impact of automation in financial services for creating a comprehensive 360-degree view of customer interactions, crucial for enhancing service delivery and operational efficiency.
    Automation in financial services enabling a 360-degree view for customer engagement - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:business-to-business products and servicescustomer’s changing needsoptimum IT system

    A lack of choice and flexibility in IT infrastructure is holding back UK businesses according to a new study by Cogeco Peer 1, a global provider of essential business-to-business products and services, with 85% of respondents believing that their organisation would see faster business growth if its IT vendors were less restrictive.

    The study, which questioned 150 IT decision-makers across several different industries including financial services, retail, higher education, business services and media, found that CIOs and IT Directors are frustrated with the restrictions they encounter, which manifests in a lack of flexibility (51%) and reliability (50%), as well as 40% of respondents citing too much choice from IT vendors, which their organisation finds restrictive.

    The vast majority (84%) of respondents stated that their organisation is not currently running the optimum IT system.

    Almost seven in ten (69%) felt that their organisation’s growth/development has been restricted by its IT vendors’ contracts, with around two in ten (17%) reporting significant restrictions.

    When an organisation adopts new technology, it is clear it doesn’t always go to plan. Most respondents (81%) said that an IT service or system they’ve adopted has not lived up to expectations and almost half (48%) stated this has happened on multiple occasions. The most common impacts of this have been reliability issues (65%), not getting the service required (57%) and higher costs (52%).

    When it comes to upgrades, it is a similar story, with 75% of respondents reporting that an IT upgrade purchased by their organisation has not lived up to expectations, with 41% saying this has happened multiple times. Among the reasons as to why this is, is a system not integrating well with existing systems (63%), the technology was too immature or unproven (45%) or the vendor did not add the expected value (24%).

    Furthermore, business agility was highlighted as a key area where IT vendors could drastically improve the value of their service. Three in five (60%) respondents agreed that their organisation’s IT vendor could do more to help their business to be more agile, with just over a fifth (21%) stating that IT vendors do not help their business to be agile at all.

    Susan Bowen (current VP & GM, EMEA) future President of Cogeco Peer 1 said: “It is clear that the technology industry is key to helping businesses in every sector and specialism grow and to reach their full potential.

    “Agility and flexibility are key tenets of this, so businesses should seek the right partners and services which enable them to scale up and down to match seamlessly with their needs.

    “Far from being restrictive, properly scalable solutions can allow businesses to focus on what they do best, rather than being bogged down in their system requirements.”

    There is plenty of scope for IT providers to adapt to their customer’s changing needs, with the survey concluding that almost all respondents (91%) felt that there are areas within their own organisations that are too complicated, with the most common areas being integration (55%), security (41%) and data protection (37%).

    A lack of choice and flexibility in IT infrastructure is holding back UK businesses according to a new study by Cogeco Peer 1, a global provider of essential business-to-business products and services, with 85% of respondents believing that their organisation would see faster business growth if its IT vendors were less restrictive.

    The study, which questioned 150 IT decision-makers across several different industries including financial services, retail, higher education, business services and media, found that CIOs and IT Directors are frustrated with the restrictions they encounter, which manifests in a lack of flexibility (51%) and reliability (50%), as well as 40% of respondents citing too much choice from IT vendors, which their organisation finds restrictive.

    The vast majority (84%) of respondents stated that their organisation is not currently running the optimum IT system.

    Almost seven in ten (69%) felt that their organisation’s growth/development has been restricted by its IT vendors’ contracts, with around two in ten (17%) reporting significant restrictions.

    When an organisation adopts new technology, it is clear it doesn’t always go to plan. Most respondents (81%) said that an IT service or system they’ve adopted has not lived up to expectations and almost half (48%) stated this has happened on multiple occasions. The most common impacts of this have been reliability issues (65%), not getting the service required (57%) and higher costs (52%).

    When it comes to upgrades, it is a similar story, with 75% of respondents reporting that an IT upgrade purchased by their organisation has not lived up to expectations, with 41% saying this has happened multiple times. Among the reasons as to why this is, is a system not integrating well with existing systems (63%), the technology was too immature or unproven (45%) or the vendor did not add the expected value (24%).

    Furthermore, business agility was highlighted as a key area where IT vendors could drastically improve the value of their service. Three in five (60%) respondents agreed that their organisation’s IT vendor could do more to help their business to be more agile, with just over a fifth (21%) stating that IT vendors do not help their business to be agile at all.

    Susan Bowen (current VP & GM, EMEA) future President of Cogeco Peer 1 said: “It is clear that the technology industry is key to helping businesses in every sector and specialism grow and to reach their full potential.

    “Agility and flexibility are key tenets of this, so businesses should seek the right partners and services which enable them to scale up and down to match seamlessly with their needs.

    “Far from being restrictive, properly scalable solutions can allow businesses to focus on what they do best, rather than being bogged down in their system requirements.”

    There is plenty of scope for IT providers to adapt to their customer’s changing needs, with the survey concluding that almost all respondents (91%) felt that there are areas within their own organisations that are too complicated, with the most common areas being integration (55%), security (41%) and data protection (37%).

    More from Business

    Explore more articles in the Business category

    Image for Submit Your Entry for Years of Excellence Awards 2026
    Submit Your Entry for Years of Excellence Awards 2026
    Image for Nominations Open for Travel & Hospitality Awards 2026
    Nominations Open for Travel & Hospitality Awards 2026
    Image for Submit Your Entry Today for Telecom Awards 2026
    Submit Your Entry Today for Telecom Awards 2026
    Image for Submit Your Entries for The Next 100 Global Awards 2026
    Submit Your Entries for the Next 100 Global Awards 2026
    Image for Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Image for Nominations Invited for Real Estate Development Awards 2026
    Nominations Invited for Real Estate Development Awards 2026
    Image for Submit Your Entry: Process & Product Awards 2026
    Submit Your Entry: Process & Product Awards 2026
    Image for Call for Entries: HR & Recruitment Awards 2026
    Call for Entries: HR & Recruitment Awards 2026
    Image for Submit Your Nominations Today for Education & Training Awards 2026
    Submit Your Nominations Today for Education & Training Awards 2026
    Image for Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Image for Submit Your Entry Today for Business Awards 2026
    Submit Your Entry Today for Business Awards 2026
    Image for Decentralized Masters’ ‘family culture’ building trust instead of hierarchy
    Decentralized Masters’ ‘family Culture’ Building Trust Instead of Hierarchy
    View All Business Posts
    Previous Business PostTackling Risk – Why Visibility Into Contracts Is Crucial for Procurement Pros
    Next Business PostBusiness Professionals in Manchester Fail to Make a Strong First Impression