The economic benefits are revealed in a report produced by IBRS and Insight Economics and commissioned by enterprise software firm TechnologyOne and quantify for the very first time the $224bn economic opportunity that can be unlocked if the public and private sectors embrace new innovations and replace redundant IT platforms with next-gen Software as a Service (SaaS) technology.

According to the report, every year more than $70bn of the $98bn spent in Australia on software is directed towards legacy on-premise platforms, which costs the economy billions and has a detrimental environmental impact through higher emissions.

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