Research by accountancy firm Mazars said huge inconsistencies in...
Research by accountancy firm Mazars said huge inconsistencies in the IT systems of broker firms jeopardise management buy-outs and mergers.
Mazars' survey revealed that only 15% of brokers with a turnover of less than £10m were following a recognised industry standard for managing the purchase, use and development of IT resources and services.
The figure for firms with a turnover of greater than £10m was only marginally higher at 18%, added the firm.
Mazars warned that this lack of uniformity could provide succession difficulties for smaller companies as they looked to expand through acquisition or seek buyers.
Only 50% of companies had identified and secured secondary facilities to continue data and administration processing in the event of a disaster and only 42% of companies with a turnover in excess of £10m had a formal IT organisational structure in place, said the survey.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
