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IT managers are wasting money on the latest IT systems and are failing to gain competitive advantage.

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IT managers are wasting money on the latest IT systems and are failing to gain competitive advantage, according to Martin Butler, chairman of IT research and analyst firm Butler Group.

"Most IT spend is a blatant squandering of money," he said."There is no correlation between IT spend a nd the benefits you gain." But the situation is likely to change. If the UK enters a recession, financial directors will start to apply the brakes on their IT expenditure and will demand visible returns on their investment.

Butler called on financial directors to introduce performance rewards for IT managers to improve IT system value. "In the same way that you reward marketing people, FDs need to look at the cost of buying and...

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