Only 9 per cent of IT department time is being spent on innovation – making it clear that IT leaders have a ‘golden opportunity’ to move businesses forward.

The report, from Claranet UK, revealed the importance of CIOs and CTOs – revealing that these leaders are in fact directing the digital strategy in 60 per cent of European organisations, reports cbronline.com.

CIOs have been hailed in many recent news reports as being key influencers for innovation in business, which these statistics reaffirm. With less than 10 per cent of business time currently going towards creating strategies to reduce costs and maintain existing service support, the report urges leaders to capitalise on this huge opportunity to make critical business improvements.

Other results of the survey show that the majority (84 per cent) of European firms expect to see radical change by 2020. Notably, 26 per cent of organisations have a firm hand on the IT requirements of the company, though over a fifth do not measure the performance of their IT department notes comms-dealer.com.

Claranet UK managing director Michel Robert says: “The CIO/CTO needs to really help determine and deliver against the strategy of the business by providing great service today and focusing on innovation – a challenging thing to do.

“The strong position in which IT leaders find themselves to guide the future of their businesses, combined with the fact that budgets are set to increase quite significantly in some countries over the next years, means that we can expect to see new levels of innovation across all sectors in Europe.”