Half of business executives are being held back from investing in IT innovation because they have to fund their current systems.
This is according to a poll carried out by Coleman Parkes Research on behalf of HP, which also showed that more than one in two business and technology executives have found this "innovation gridlock" is making their firms less competitive.
Being restricted in this way meant 95 per cent of survey respondents missed out on business opportunities, while 99 per cent said they lost time.
Fund management
In response to this situation, HP has launched a new range of products to help ease the gridlock, assisting firms in the organisation of both funds and systems.
At a press conference, HP introduced ways in which the hardware giant can assist with IT budget management.
One option is the new HP IT Service Management Assessment for Virtualised Environments, available through HP Proactive Services. Expert recommendations and priority improvements are promised with this in order to open up operational costs.
Self-funding
HP's Paul Evans, responsible for marketing enterprise transformation, was on hand to explain how the company is hoping to assist firms with self-funding and warned of "the cost of doing nothing".
Evans introduced a range of new HP services including new HP ProLiant servers - the DL360 G7 and DL380 G7. They offer a 27 times performance-per-watt increase and Evans claimed that they will have paid for themselves within two months.
He also introduced the HP Integrated Lights-Out Advanced, which can cut administration costs by simplifying the server setup and monitoring the health of systems, along with power and thermal optimisation.
HP's answer to cloud adoption
Adaptability is a key area for HP as well. It is looking to ensure that new technologies do not become legacy systems in the future and can cope with managing cloud initiatives.
Marc Wilkinson, director of HP's global cloud practice, talked about the organisation's Cloud Service Automation, saying that mixing public and private cloud projects is becoming commonplace. The CSA solution accelerates the deployment and management of both forms of cloud initiative.
HP also claimed that its offering lowers the risks associated with cloud adoption something that has scared businesses off in the past.
