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KPMG tells CIOs to stop spending money on tech post-Brexit

Big four consultancy firm KPMG has warned IT bosses that they may need to “delay or cancel large funding approvals” post-Brexit, especially if they’re buying tech from outside the UK.

Speaking to Computing, the director of KMPG’s CIO advisory panel Adam Woodhouse, said that the drop in the pound may change the value of already negotiated IT contracts.

He is also concerned that companies may lose European tech staff.

On the bright side, he suggested that those businesses that are struggling to do digital, but are able to act boldly, could take the opportunity to invest in or buyout startups now on the hunt for fast cash.

Given that technology consultancy, and now the development of new tech, is “one of the fastest-growing business areas” at KMPG, you might have thought Woodhouse would be a little more upbeat.