A minimum of £10.6bn of European businesses' IT expenditures are "wasted"

According to the figures discovered in a recent research conducted by Coleman Parkes on behalf of HP, European-based companies are spending a minimum of £10.6bn a year maintaining and supporting IT applications that deliver little or no value.
 
The research questioned 100 CIOs from five European countries and 3 out of 4 CIOs believe the number of applications used in their organisation is too many and that this was a problem.
 
Overall, the CIOs said that, on average, almost 15% of IT applications used across the organisation were not providing real business value; with 30% placing this figure at more than 20%.
 
Maintaining and supporting applications that deliver minor or no benefits to the business leads to unnecessary costs, resulting in a 5.8% overspend on annual technology expenditures.

This spend equates to over £10.6bn across European organisations of all sizes, based on IDC's estimation of average enterprise IT spend in Western Europe, and more than £5bn for enterprises with 1,000 employees and above.