A recent report by Freshworks titled ‘State of Workplace Technology: AI in IT’ reveals that businesses are spending millions on unnecessary software, leading to potential financial waste. The report sheds light on the current state of IT spending in the UK.
Wasteful Software Spending
According to the report, UK companies spend an average of £2.7 million on software contracts annually. This expenditure is often accompanied by increased management efforts to handle IT services. Approximately 71% of IT professionals stated that they had to manage more software compared to the previous year.