Collaboration on innovation is the key to maintaining a competitive advantage according to new research.

The research by technical recruiter Harvey Nash in its annual survey of senior technology professionals found that 83% of IT leaders thought that innovation projects were the key to improving competitive advantage.

Technology is still regarded as a means of enhancing operational efficiency for 76% of IT leaders, while 65% felt it improved internal processes.

Bryan MacDonald, director, chief information officer practice at Harvey Nash, said: “We are seeing innovation collaboration happening more and more frequently, and the more IT leaders collaborate the better the results. IT leaders are collaborating with suppliers and customers to help drive efficiency and create new revenue streams. With greater results on tighter budgets, we expect the IT function to be rewarded with the strategic influence it desires.”