Inefficient storage and working practices are costing UK plc up to £900 million a week, according to research, commissioned by Oracle and carried out by independent research house ICM.
The research reveals that the equivalent of 30 million hours per week are wasted as people struggle to locate disparately stored documents, and share up-to-date information across systems.
Indeed, the study finds that the average employee uses more than five applications at work on a weekly basis – meaning that they spend more thn one hour every week copying and pasting the same information between documents stored in different places and programmes.
Andrew Gilboy, vice president director E2.0 at Oracle, says: "The findings highlight that while employees are keen to work with Enterprise 2.0 tools in their everyday activities, businesses are yet to take advantage of this and implement them on a wide scale."
And he adds: "The real opportunity missed by not adopting Enterprise 2.0 is the business productivity gains – as opposed to the gains that can be made in personal productivity – and the ability to accelerate business models."