A report just issued claims that 39 billion IT man hours will be lost this year across Europe, at a cost of € 1.7 billion. The research says that a further € 3.5 billion will be lost as a direct result, owing to idle IT infrastructure.
The report, commissioned by PSINet Europe, the pan-european ISP, and carried out by Cumulus Research Partners, says that the cost of downtime in the U.K. is 10 million IT man hours, equating to € 1.63 billion in direct costs.
Nicholas Jeffery, PSINet's vice president, said that the figures are phenomenal and speak for themselves, although it is not just about the huge waste of time and resources, but the opportunity cost involved.
“Companies simply cannot afford to compromise on the robustness or scalability of their e-infrastructure as to do so means severely damaging their competitiveness in the marketplace,” he explained.
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