New technologies like cloud computing are "vital" to the success of UK business, a survey has found.

According to the research, by Virgin Media Business, more than two-thirds of British firms believe that advances in such technology are pivotal to their success.

The poll of more than 5,000 UK firms found that cloud computing and e-commerce technologies are the most valued, with 32 per cent of business leaders saying that investment in cloud computing has significantly benefitted their company.

This was closely followed by ecommerce solutions, at 27 per cent.

Virgin Media Business said new technologies like the cloud are levelling the business playing field and increasingly allowing smaller firms to compete with their bigger rivals.

The study also found that demand from workers for consumer gadgets in the workplace has reached a tipping point, going from 'nice-to-have' to 'must-have'. 

Some 70 per cent of smartphone users admit that they would rather give up alcohol than be without their phone. 

Commenting on the research, Virgin Media Business' director, corporate sector, Andy Marshall, said: "With more organisations embracing new technologies, the business world is clearly showing it's open to change. 

"New technologies such as cloud computing are helping smaller players to compete on the same stage as massive corporates because of economies of scale."

Article courtesy of Aviva PLC. Published 14-10-2011